Terms of Service
Effective Date: August 29, 2024
Welcome to Park Place Finance. By accessing or using our services, you agree to comply with and be bound by the following terms and conditions. Please read them carefully.
1. Acceptance of Terms
By using our website, services, or engaging in any transactions with Park Place Finance, you acknowledge that you have read, understood, and agreed to these Terms of Service. If you do not agree to these terms, you must not use our services.
2. Services Provided
Park Place Finance offers hard money lending services. Our loans are typically short-term and secured by real estate. We may provide funding for various purposes, including property acquisition, renovation, and development.
3. Eligibility
To qualify for our services, you must:
- Be at least 18 years old.
- Have the legal capacity to enter into binding contracts.
- Provide accurate and complete information as requested during the application process.
- To proceed with a loan closing, all borrowers are required to close under an LLC. This structure ensures limited liability protection and aligns with lending requirements for investment property transactions.
4. Application and Approval
To apply for a loan, you must complete our application process, which includes providing financial documentation and information about the property securing the loan. Approval is subject to our review and discretion. We may request additional documentation or information as needed.
5. Loan Terms and Conditions
Loan terms, including interest rates, fees, and repayment schedules, will be specified in your loan agreement. It is important to review this agreement carefully before accepting the loan. By accepting the loan, you agree to abide by the terms set forth in the agreement.
6. Fees and Charges
Fees may include, but are not limited to:
- Application Fees
- Origination Fees
- Processing Fees
- Late Payment Fees
These fees will be disclosed in your loan agreement. You are responsible for paying all fees and charges associated with your loan.
7. Repayment
Repayment terms will be outlined in your loan agreement. You agree to make payments in accordance with the schedule provided. Failure to make payments as agreed may result in penalties, additional fees, or legal action.
8. Default and Remedies
In the event of default, we reserve the right to take necessary actions to recover the outstanding amount, including but not limited to foreclosure on the property securing the loan. You may be responsible for any costs associated with recovering the debt.
9. Privacy Policy
Your privacy is important to us. Our Privacy Policy, which is incorporated by reference into these Terms of Service, explains how we collect, use, and protect your personal information. By using our services, you consent to our Privacy Policy.
10. Limitation of Liability
To the fullest extent permitted by law, Park Place Finance and its affiliates, officers, directors, employees, and agents shall not be liable for any indirect, incidental, consequential, or punitive damages arising out of or related to your use of our services or any loan agreements.
11. Governing Law
These Terms of Service and any disputes arising from them shall be governed by and construed in accordance with the laws of [Your State/Country], without regard to its conflict of law principles.
12. Changes to Terms
We may update these Terms of Service from time to time. The updated terms will be posted on our website, and the effective date will be revised accordingly. Your continued use of our services after any changes constitutes acceptance of the revised terms.
13. Contact Information
For any questions or concerns regarding these Terms of Service, please contact us at:
Park Place Finance
500 W 2nd Street
Austin, TX 78701
Justin Hubbert
(866) 495-3970
justin@parkplaceus.com
14. Severability
If any provision of these Terms of Service is found to be invalid or unenforceable, the remaining provisions will continue to be valid and enforceable.
15. Termination
We reserve the right to terminate or suspend your access to our services at our discretion, with or without cause, and with or without notice.
Thank you for choosing Park Place Finance. We look forward to serving your hard money lending needs.
August 29, 2024