How it works from both perspectives.
Sarah wants to live in a Tiny Home in the hill country of Texas.
She sees an add on Facebook and goes to the TinyCamp.Life website and fills out the questionnaire on the home page.
A sales person for TinyCamp.Life contacts her to see that she is ready to move forward and has the available funds.
She has chosen an approved Tiny Home builder in Texas and is ready to secure a place to park her new Home.
She is sent an Email directing her to contact our friendly lawyers so they can send her the agreement to sign and instructions for wiring her money to an escrow account for safe keeping during the ramp up process.
She is informed that when the project has enough members, she will be added to the mutimember LLC and that LLC will Purchase the property where she will be living. She will have an equal share in the LLC and its control. She will also have to choose from the available lots which one she would like to live on. First come - first served.
She signs a memorandum of understanding given to her from the lawyers that she is Not buying real estate but that she will hold "Title" to her lot as described by an engineers survey.
She also agrees that work can not begin until the closing of the sale on the property and that it will take a Minimum of 12 weeks.
If she needs to park her home on the property then Base Camp will make efforts to accommodate its storage until it can be installed on her lot.
Base Camp will move as fast as it can to complete the improvements to the project.
Base Camp Industries places a deposit on a suitable property.
The contract is “and/or assigns”.
This will be assigned to the home owners LLC at closing.
Base Camp creates a multi member LLC.
Each home owner buys into the LLC (currently $75,000 per membership) and has an equal share in the LLC.
The Land Owners Association is created after the property has been sold to the land owners LLC.
Each home owner has an equal vote in the Land Owners Association. The Association exists to create rules and guidelines for the community.
First the lawyers create the multi member LLC.
The people that want to join the LLC request the agreement from the lawyer.
After they have signed the agreement and MOU they have to wire their full payment/membership fee to the lawyers trust/escrow account.
Base Camp irrevocably contracts with the member LLC when it is created in order to complete the build-out of the property after closing.