When property is listed for sale, the owner signs a contract appointing the company as his agent for the sale. Figure 252 shows a form of this contract, on the back of which, shown in Figure 253, is given the description of the property. Description UNIMPROVED BUSINESS PROPERTY Washington 16 St. Lot No. 38 Price $10000 40 x 150 ft., South ride of street, 120 feet from ar! 12th St. An index is kept of all properties listed, and cards are found most convenient for such an index. The size of the cards is 6 by 4 inches. They are filed alphabetically by names of streets; or if out of the city, by names of towns, townships, etc. Each card contains particulars re garding the property listed on it, so that it is not necessary to look up other records to give an enquirer such information as he may wish before viewing the property. Figure 254 shows a card used for this index. Another form is shown in Figure 255. The latter is one of a set of several cards differing in color, the idea being to use a card of a special color for each kind of property listed. The card shown is for "unimproved business property:" others are for "improved business property," "dwellings," "flats and apartments," "suburban and acreage." Cards may also be distinguished from each other conveniently by having tabs at the tops, a certain tab being left on all cards used for listing a given kind of property. THE GUARDIAN SAVINGS & TRUST COMPANY REAL ESTATE DEPARTMENT FIG. 258.-INDEX OF OWNERS. 1237 Brown Blitz Wants a durlling good neighborhood at about "si MEMORANDUM Some 20 Looked at = 7614 Ralston Air. Thinks price high. Su again FIG. 259.-INDEX OF INQUIRERS. Figures 256 and 257 show two different forms of cards used for an index of tenants. The sizes of the cards are 3 by 5 and 4 by 6 inches, respectively. They are filed alphabetically. OFFICE OF MISSISSIPPI VALLEY TRUST COMPANY. REAL ESTATE DEPARTMENT, St. Louis, Mo., Received of Wallace M. Hand the sum of..... 6. Fifty Jane 8 of the feet on the....... South as earnest money on purchase of a certain parcel off ----------- improved property lying in City Block No... Street, and a depth. South wardly of 145. side of feet, The above described property is this day sold by the undersigned agent, but subject to the approval of the owner thereof, to said secured by first purchase money Deed of Trust on the above mentioned property. Said property will be conveyed by General Warranty Deed free from liens and incumbrances, except as to general and sprinkling taxes for the year... which the purchaser accepts, subject also to Deed- el Trust now ea cand premises for $ dee which the purchaser assumes and agrees to pay; subject also to restrictions now on said property, or such as may be imposed thereon by the grantor. The said purchaser is accorded ten days' time from this date in which to have the title investigated and to close the sale at the office of the Mississippi Valley Trust Company. If, upon examination, the title proves to be defective, and cannot be made good within a reasonable time, the sale shall be off and the earnest money returned, if the purchaser so elects, but otherwise the sale shall stand good and be binding upon pur chaser and owner; should title prove to be defective and cannot be made good, as aforesaid, the cost of certificate of title not to exceed en ... Dollars, will be refunded to said purchaser Kents, Insurance, Interest on Deed of Trust and Taxes on said property to be prorated to date of closing this sale. Upos the completion of this sale a commission of 2% is to be paid to the Mississippi Valley Trust Company by the vendor. Time is declared to be the essence of this contract, and if sale is not closed promptly as above provided, then, withou, any notice whatever, at option of owner of said property, said earnest money hereby receipted for shall be forfeited to said owner as liquidated damages, and said purchaser shall be taken to have waived all right, interest or equity under this contract and in said property, as though this contract had not been made SIGNED IN DUPLICATE. Accepted under above terms and conditions. Wallace M. Hanson Purchaser. MISSISSIPPI VALLEY TRUST COMPANY, Agent. Real Estate Officer This receipt to be returned to MISSISSIPPI VALLEY TRUST CO., on closing of purchase. FIG. 260.-MEMORANDUM OF SALE. Figure 258 represents a card 4 by 6 inches in size used for an index of owners of property. A loose-leaf form for a list of inquirers after property is given in Figure 259. Many companies issue booklets giving a list of the properties which they offer for sale, describing each property briefly and stating the price asked. ...SALE... When a customer decides upon the purchase of a property, he pays down a small amount as "earnest money," and is given a receipt or memorandum of sale in such a form as that shown in Figure 260. This is written and signed in duplicate, the company retaining a copy. Upon completion of the sale, if by payment in full, the company delivers to the purchaser the former owner's warranty deed; if by partial payment, the purchaser delivers his note or notes for the balance of the purchase price, together with a mortgage securing same, and receives the warranty deed. In either case an abstract, certificate of title or policy of title insurance is also furnished. Sales are also made under land contract. |