Pricing & Purchase Process
- Document Fee: We charge a $299 document processing fee together with Down Payment (50% of the cash price) to reserve your property and start paperwork.
- Once the Document Fee & Down Payment are received, a document will be drafted: a Purchase Contract.
- We will send you the document by email for your review.
- The accepted Purchase Contract will then be signed using an electronic signing service called Signnow.com.
- After you sign, we will draft a Deed and send it for your review.
- We then ask that the remaining balance be sent to us, preferably by ACH Wire or Credit Card.
- Once we receive the payment, we will notarize your deed and send it to the county for recording. Many counties will record the deed in a week.
- Once the deed is recorded, we will send you a recorded deed!
Term Sale (Owner Financing)
This will be sold on a Contract for Deed (Land Sales Contract). The actual Title to each parcel will be conveyed to the Buyer only after any outstanding loan balance is completely paid off. We elect this method to keep the price of our property as low as possible. Conveyance of Title does NOT hinder the buyers enjoyment of their property.
- Down Payment & Doc Fee: We charge a $299 document processing fee together with Down Payment (varies by property) to reserve your property and start paperwork.
- Once the Document Fee & Down Payment are received, 3 documents will be drafted: Purchase Contract, Promissory Note, and Land Contract.
- Documents will be signed with an electronic signing service called Signnow.com.
- Your monthly payments will be set up automatically to be paid monthly via ACH. Your checking account’s routing and account number are required for monthly payment.
- We use Geekpay.io for loan servicing. You can check your balance, payment history, and make manual payments all online.
- Once the principal is paid in full, we convey the title to you within 2 weeks. We charge $0 for preparing and recording your deed.
Document/Closing Fees - Cash or Term Sale
$299 Document Fee is collected together with downpayment for cash and term sales. We charge this to reserve your property, prepare paperwork, and assist you through the closing process. Keep in mind that the more traditional escrow transaction usually costs buyers $1200-2000/transaction. We minimize the closing costs by closing directly with buyers.
Note Servicing Fee - Term Sale
$20/month note servicing fee is charged for any term sales. We charge this fee to account for bookkeeping and loan servicing. Term buyers can access their loan details online, make manual payments, and change billing information if needed.
Prorated Property Tax - Term Sale
We prorate the property tax and charge term buyers monthly. We keep track and pay property taxes on behalf of term buyers to maintain a good standing with the county treasurer. We also reserve the right to adjust this charge in case your property appreciates in taxable value.
Fabrica will settle the entire real estate transaction from processing your payment to digitizing the deed in your name while providing security and certainty for the buyer, you, and the seller, us.
- Register an account with Fabrica
- Choose the property for your purchase
- Enter payment information (verify bank account)
- Fill out your title information
- Transfer Complete!
- Cash Transactions are final and no refunds/exchanges will be issued
- Term buyers have 30 days after the downpayment date to exchange or get a refund for their purchase. The refund would include downpayment but exclude payment processing fee (2%) and doc fee ($299)