Here are some excerpts from an actual home manager contract!!! Read Before You SIGN!!! These are of SPECIAL INTEREST Since This Company can Cause Problems for The Home Manage / Home Tender and Homeowner ALIKE...
Below is What the Home Manager will have to sign: Basically, if you do not adhere to your 'performance obligations', a term very loosely constructed, kiss your furniture goodbye!'Performance Obligations' are determined by the Showhomes Manager / Owner. There is a general manual they follow, however, when you question the contents of this manual, Showhomes will refer to it as a 'guide' with 'many other things not listed in it'. $250 Fines for NON-PERFORMANCE For EACH INCIDENT??? Increase the Deposit by 25%??? Give all security interest in your furnishings and artwork??? - How does all this SAVE SOMEONE MONEY??? I'm surprised they didn't ask for the rights to your first born child!!! LOL!
4.5. Security Interest. As further security for the payment and performance of your obligations under this Agreement, you, by executing this Agreement, grant us a first priority security interest in all furniture, furnishings, accessories, artwork and other items of personal property that you place on the Property at any time after the date of this Agreement (collectively, Contractor's Items). You authorize
us to take all actions and execute and file or deliver all documents or instruments, including without limitation a UCC-1 Financing Statement to perfect and continue the security interest created by this Agreement. You agree that, if you fail to pay or perform on a timely basis any obligation created by this Agreement, we may exercise our rights respecting Contractor's Items available to a secured creditor under the Uniform Commercial Code in effect in the state where the Property is located. As long as no defaults
exist, and you have paid or performed all obligations arising under this Agreement, we will take all actions necessary to release our security interest, promptly after this Agreement terminates.
3.4. Risk of Loss. You assume the entire risk of loss or damage to all Showhomes Furnishings on the Property from any cause other than the intentional or negligent actions of us or our agents, employees or contractors. If there is any loss or damage to Showhomes
Furnishings that is your responsibility under this Section 3.4, you, at our option, will either make the repairs necessary to restore the Showhomes Furnishings to good condition, replace the Showhomes Furnishings, or reimburse us for the replacement cost of the
Showhomes Furnishings.
4.3. Late Fees and other Remedies. If we do not receive the Monthly Fee by the fifth day of any month, or if any check delivered by you is returned unpaid for any reason, we may charge you a late fee equal to the greater of five percent (5%) of the unpaid amount or fifty dollars ($50.00), and may require you to increase the security deposit required by Property Schedule by up to twenty-five percent (25%) of the initial amount.in addition, if we notify you of any material failure to perform under this Agreement, and you do not rectify
this within three days after our notice, we may charge you a non-performance fee of up to $250.00 per occurrence. The imposition of any late fee or non-performance fee is in addition to any other rights and remedies available at law, in equity or under this
Agreement.
this is what the homeowner will sign...
Do you really want to get involved with company that will put LIENS ON YOUR PROPERTY when you are trying to SELL IT! Your Real Estate AGENT Wouldn't do That... But, Showhomes WILL!!! If you stay with them OR NOT... WHETHER they provided the service you expected OR NOT... YOU WILL STILL HAVE TO PAY THEIR FEES!!! If YOU CANCEL the contract, for ANY REASON, you pay a cancellation FEE. This company will be your worst nightmare... And all you were trying to do was sell your property...
6. Payment for Services. You will pay us for the Services as follows:
Set-up Fee. The Set-up Fee is fully earned on the date a Home Manager first occupies the Property (the Set-
Up Date). The amount of the Set-Up Fee is $3,500 which is due and payable upon closing of the sale of the
Property or termination of the Agreement.
Success Fee. 1%
Home Manager Conversion Fee. $3,000.00
If at any time during the Term or one year thereafter you and the Home Manager, or any person to whom we have shown the Property as a prospective Home Manager, enter into any agreement regarding a lease or other arrangement for sale or occupancy of the Property other than under this Agreement, you will pay us the setup fee and success fee as designated above.
Lease Conversion Fee. If at any time within the Term you lease or offer to lease the Property to anyone other than
a Home Manager you will pay us the setup fee and success fee as designated above.
Lien.
In order to secure payment at closing, this Agreement may be recorded by either party at any time
before the closing of the sale of the Property. The recording of the Agreement shall create a valid lien
against the title to the Property in regard to payment for the Services rendered by us. This lien may be
released only by us. You authorize us to add the legal description of the Property as an Exhibit to this
Agreement.
9. Additional Terms. Should Homeowner terminate this contract for any reason, except sale, within 60 days of
signing Homeowner will pay a termination fee in the amount of $975. Should Homeowner terminate this
contract for any reason, except sale, within 180 days of Home Manager placement, Homeowner will pay the
setup fee. Should Home Manager move from this home Homeowner agrees to give Showhomes a period of
30 days to replace, and in this case, if unable to refill Showhomes agrees to discount the set-up fee to 1750.
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