Forums46
Topics538,032
Posts9,732,167
Members87,055
|
Most Online25,604 Feb 12th, 2024
|
|
|
Land...For Sale By Owner...?
#4978667
02/17/14 09:39 PM
|
Joined: Nov 2010
Posts: 399
KCH
OP
Bird Dog
|
OP
Bird Dog
Joined: Nov 2010
Posts: 399 |
What are the Pro's and Con's of FSBO for acreage? I found about 80 acres that look pretty good in Fannin County. Let me know what I need to know, lol!
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4978799
02/17/14 10:41 PM
|
Joined: Dec 2012
Posts: 693
JTS
Tracker
|
Tracker
Joined: Dec 2012
Posts: 693 |
I don't think there is much difference for a buyer between fsbo or realtor. If you borrow money for the land the bank will look at the surveys and appraisal to make sure its worth what you are paying.
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4979463
02/18/14 04:35 AM
|
Joined: Aug 2005
Posts: 31,955
txtrophy85
THF Celebrity
|
THF Celebrity
Joined: Aug 2005
Posts: 31,955 |
not a pro or a con per say.
only con is if you don't do your research and understand the contract process you can make a mistake that could cost you.
at the very least have an attorney or broker prepare the contract for you and go over the title commitment
For it is not the quarry that we truly seek, but the adventure.
|
|
|
Re: Land...For Sale By Owner...?
[Re: txtrophy85]
#4979953
02/18/14 04:07 PM
|
Joined: Nov 2010
Posts: 399
KCH
OP
Bird Dog
|
OP
Bird Dog
Joined: Nov 2010
Posts: 399 |
not a pro or a con per say.
only con is if you don't do your research and understand the contract process you can make a mistake that could cost you.
at the very least have an attorney or broker prepare the contract for you and go over the title commitment Thanks for the information! Should I be leary of a Seller that won't accept a Buyer with a realtor?
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4979966
02/18/14 04:15 PM
|
Joined: Jan 2012
Posts: 94
Sprigblaster
Outdoorsman
|
Outdoorsman
Joined: Jan 2012
Posts: 94 |
not a pro or a con per say.
only con is if you don't do your research and understand the contract process you can make a mistake that could cost you.
at the very least have an attorney or broker prepare the contract for you and go over the title commitment Thanks for the information! Should I be leary of a Seller that won't accept a Buyer with a realtor? Not neccessarily. You can probably make the purchase cheaper without a realtor. They charge between 3% and 6% to the seller.
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4980989
02/19/14 02:15 AM
|
Joined: Aug 2005
Posts: 31,955
txtrophy85
THF Celebrity
|
THF Celebrity
Joined: Aug 2005
Posts: 31,955 |
not a pro or a con per say.
only con is if you don't do your research and understand the contract process you can make a mistake that could cost you.
at the very least have an attorney or broker prepare the contract for you and go over the title commitment Thanks for the information! Should I be leary of a Seller that won't accept a Buyer with a realtor? I would be Leary of one who had a problem with you wanting representation Ask what the issue is
For it is not the quarry that we truly seek, but the adventure.
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4981562
02/19/14 02:11 PM
|
Joined: Jul 2009
Posts: 1,804
ijohnston
Pro Tracker
|
Pro Tracker
Joined: Jul 2009
Posts: 1,804 |
I found 58 acres in coleman that I would like to purchase. They will also do Owner Finance. The problem I have regardless of seller is coming up with 20% to put down. I wish there was a way to get a loan 0 down. Anyone have any ideas?
|
|
|
Re: Land...For Sale By Owner...?
[Re: ijohnston]
#4981575
02/19/14 02:16 PM
|
Joined: Aug 2005
Posts: 31,955
txtrophy85
THF Celebrity
|
THF Celebrity
Joined: Aug 2005
Posts: 31,955 |
I found 58 acres in coleman that I would like to purchase. They will also do Owner Finance. The problem I have regardless of seller is coming up with 20% to put down. I wish there was a way to get a loan 0 down. Anyone have any ideas? nope, 20% is standard. if you don't wanna put 20% down then try a bank like capital farm and see if they will do it for 10% down
For it is not the quarry that we truly seek, but the adventure.
|
|
|
Re: Land...For Sale By Owner...?
[Re: txtrophy85]
#4981803
02/19/14 04:07 PM
|
Joined: Dec 2008
Posts: 19,296
pokerj2
THF Celebrity
|
THF Celebrity
Joined: Dec 2008
Posts: 19,296 |
I found 58 acres in coleman that I would like to purchase. They will also do Owner Finance. The problem I have regardless of seller is coming up with 20% to put down. I wish there was a way to get a loan 0 down. Anyone have any ideas? nope, 20% is standard. if you don't wanna put 20% down then try a bank like capital farm and see if they will do it for 10% down Im going thru capital farm credit now. Good guys to work with. They will loan up to 80% of the appraised value. In my case I am only going to have to put down about 12% of the purchase price due to the negotiated price I made with the seller, and the apprasial that was completed by them.
President of American Entitlements LLC Health insurance agency focusing in all ages from ACA plans all the way through Medicare. Office is based in Wylie, TX We have local agents in both Texas and Louisiana 469-814-0289
|
|
|
Re: Land...For Sale By Owner...?
[Re: pokerj2]
#4981829
02/19/14 04:21 PM
|
Joined: Nov 2010
Posts: 399
KCH
OP
Bird Dog
|
OP
Bird Dog
Joined: Nov 2010
Posts: 399 |
if you don't wanna put 20% down then try a bank like capital farm and see if they will do it for 10% down [/quote]
Im going thru capital farm credit now. Good guys to work with. They will loan up to 80% of the appraised value. In my case I am only going to have to put down about 12% of the purchase price due to the negotiated price I made with the seller, and the apprasial that was completed by them. [/quote]
Was the apprasial in line with the sellers sales price? I always wonder how big of an issue this becomes? I see a lot of land priced way high and am curious if the appraisal can be a deal breaker...
|
|
|
Re: Land...For Sale By Owner...?
[Re: txtrophy85]
#4981835
02/19/14 04:27 PM
|
Joined: Nov 2010
Posts: 399
KCH
OP
Bird Dog
|
OP
Bird Dog
Joined: Nov 2010
Posts: 399 |
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4982032
02/19/14 05:45 PM
|
Joined: Dec 2008
Posts: 19,296
pokerj2
THF Celebrity
|
THF Celebrity
Joined: Dec 2008
Posts: 19,296 |
In my case Im buying the land at 1650 an acre with no realator involved. However I am going thru traditional financing to purchase it. The apprasial came in at 1800 an acre. The property is in Archer Co. I am set to close next Friday.
President of American Entitlements LLC Health insurance agency focusing in all ages from ACA plans all the way through Medicare. Office is based in Wylie, TX We have local agents in both Texas and Louisiana 469-814-0289
|
|
|
Re: Land...For Sale By Owner...?
[Re: pokerj2]
#4982167
02/19/14 06:53 PM
|
Joined: Nov 2010
Posts: 399
KCH
OP
Bird Dog
|
OP
Bird Dog
Joined: Nov 2010
Posts: 399 |
Congrats! Livin' the dream! Archer can be good hunting, had an old GF from Holiday, lol! In my case Im buying the land at 1650 an acre with no realator involved. However I am going thru traditional financing to purchase it. The apprasial came in at 1800 an acre. The property is in Archer Co. I am set to close next Friday.
|
|
|
Re: Land...For Sale By Owner...?
[Re: KCH]
#4993496
02/26/14 03:28 PM
|
Joined: Jul 2009
Posts: 1,804
ijohnston
Pro Tracker
|
Pro Tracker
Joined: Jul 2009
Posts: 1,804 |
That is awesome Pokerj2.
Here is where I am on the one I am interested in. They will consider Owner Financing. Mineral rights are negotiable. I am trying to find out the property value and the average price per acre in the area. Anyone out there know how I can find that out?
|
|
|
Moderated by bigbob_ftw, CCBIRDDOGMAN, Chickenman, Derek, DeRico, Duck_Hunter, hetman, jeh7mmmag, JustWingem, kmon11, kry226, kwrhuntinglab, Payne, pertnear, rifleman, sig226fan (Rguns.com), Superduty, TreeBass, txcornhusker
|