Land...For Sale By Owner...?

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!

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.

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.

I would be Leary of one who had a problem with you wanting representation

Ask what the issue is

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.

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...

Thanks for the advice!

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.

Congrats! Livin' the dream! Archer can be good hunting, had an old GF from Holiday, lol!

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?