What is owner financing?A
Owner financing is the easiest way to buy property; it’s extremely simple. Owner financing is when the owner of a property extends credit to the buyer by accepting monthly payments and holding the deed as collateral until the property is paid for in full. Owner financing is very similar in nature to an auto loan, where the car title is used as collateral.
How do I qualify for owner financing?A
By paying the down payment you are automatically approved for owner financing through us. We do not do a credit check, verify income, or check references. In fact, the only information we need is your name, address, and phone number; it’s really that simple.
How much down payment do you require?A
Most of our properties require only a small down payment to get started investing in land.
How does the finance process work?A
Once we receive your down payment we will mark your property as “Sale Pending!” on our website and then mail you a land sale agreement to sign and mail back to us; it should arrive in the mail in about 3-5 business days. After you receive the paperwork, just sign it and mail it back in the enclosed self address stamped envelope and the property is all yours. Once we receive the signed sale agreement from you in the mail we will mark your property as “Recently Sold!” on our website and we will mail you your Welcome Packet with all your account information, payment schedule, payment coupons, parcel map, satellite photos, pictures, and certificate of ownership.
What interest rate do you charge?A
Our interest rate is a fixed rate of only 12.9% for all of our properties and will gladly match any lower competitors rates. However, other companies typically charge much higher interest rates as high as 15.9% and include extra hidden service charges and fees.
How much are closing costs?A
ZERO. Our goal is to offer land for sale at prices that are affordable to all and one of the ways we accomplish this is by not charging you any closing costs (transfer tax, recording fees, commissions, document preparation costs, etc.). We apply 100% of your down payment toward the purchase price.
Do you have a pre-payment penalty or balloon payment?A
NO. We do not have a prepayment penalty or balloon payment and we never will, because we believe they are too confusing and tricky. We do all we can to keep the buying process very simple and straightforward and we don’t have any fine print. If you have any questions, please feel free to give us a call anytime.
Do you have a documentation fee?A
NO. We never charge any fees and we apply 100% of your down payment to the purchase price. Q: Can I make payments easily online? A: YES. You can easily make your payments online from our website. We also have the ability to setup your account to make automatic payments each month on your due date.
What payment methods do you accept?A
We accept the following payment methods: Authorize.net, Visa, Mastercard, Discover, American Express, eCheck, Money Order, Cashiers Check, Personal Check, Western Union, MoneyGram, Comcheck
Do you offer any guarantees on the land I purchase from you?A
YES. We offer the following guarantees with any of the land you purchase from us:
LIFETIME FREE AND CLEAR TITLE GUARANTEE
We guarantee that the title to the property we sell you will be free of liens, judgments, or any defects. We guarantee this by giving you a free and clear Warranty Deed when you pay off your land.
5 YEAR PROPERTY EXCHANGE GUARANTEE
If you visit the property within five years of purchase, and decide, for any reason, that you would rather have a different piece of land, simply choose another parcel of land from our available properties on our land for sale page and give us a call to complete the exchange. Limited to one exchange per property purchased for the duration.
1 YEAR LOW PRICE GUARANTEE
If you find a similar property with comparable terms, we will beat their sales price by 5% and even write up new paperwork.
30 DAY MONEY BACK GUARANTEE
Buy with zero risk! We will give you a full 100% refund for 30-days if you are not completely satisfied with your purchase.
Should I visit a property before buying?A
Most people who purchase from us are buying for investment purposes and are not interested in ever visiting the property. If you are buying to live on the property or use it for recreation purposes, we recommend making the necessary down payment, visiting the property during the 30 day Money Back Guarantee period and performing proper due diligence. This way you can secure the property while making sure it suits your needs.
What is a Warranty Deed?A
A deed in which the grantor (Land Trust Company, LLC) warrants, or guarantees, the title against defects against the property.
In real estate transactions, warranty deed is a promise that the buyer’s title to a parcel of land will be defended.
When do I get the deed to my property?A
If you pay in full for the property, you will usually get your deed in 4-6 weeks once it is recorded with the county. However, if you are financing your property with us, your deed will be used at collateral until the balance of the loan is paid off. Once the loan is paid in full, your deed will be delivered in about 2-3 weeks once it is recorded with the county.
What is due diligence?A
Due diligence is the research you, as the buyer, complete prior to purchasing a property. This includes questions to the county where the property is located, questions to us, and/or visiting the land. We want you to feel comfortable about your knowledge of the property before buying.
Are you a real estate broker or Realtor?A
Brokers and Realtors are people who sell real estate which belongs to others and they earn a commission from the sale. Typically they are only licensed in one state and cannot sell property outside their home state. Since we own 100% of all of the properties we sell, and do not sell the property of others, we are not required to be licensed. And because we sell our property directly to the public, there are no commissions, points, or fees; allowing us to sell our properties for a lower price.
Where do you get the photos?A
We do our best to get photos directly of the property, but sometimes that is not possible since we rely on Google Maps and cannot always get photos directly of each property. Many photos are of the actual property and some are photos of the general area closest to the property. If you are unsure, please feel free to contact us and ask.
How do I find a property?A
Each of our properties have either an address listed or closest GPS coordinates. If a property has not been assigned a physical address by the county or city, you will need to use a GPS system like a Garmin that uses GPS coordinates to find the property. Most cell phone apps today have maps with GPS built in to help you find the property.
Do all of your properties have easements/access?A
Most properties we sell either have an existing easement, such as a road. However, some properties may show a road on the plat map, but it has not been built yet. It is possible to encounter a ‘landlocked’ property, but most states and counties have remedies for this, so always be sure to do proper due diligence, up to and including visiting each property before making your decision.
How do I make a payment?A
You can either mail your payments to us or make your payment online via our website.
How do I make a payment online?A
Click the the “Make A Payment” link under the “Resources” tab in the main menu navigation.
Who's name do I make out my payments to?A
All property is financed by Land Trust Company, LLC. Please make checks and money orders out to “Land Trust Company, LLC”
What is my account number?A
Your account number is typically the first two letters of your last name, followed by the 4-digit property ID number. i.e. BA1040
Where do I send my payments by mail?A
Land Trust Company, LLC 1118 Lancaster Drive NE #363 Salem, Oregon 97301
Can I change my payment due date?A
Yes. Just give us a call to make arrangements.
What if I miss a payment?A
Please give us a call to make alternative payment arrangements.
How to I find land for sale?A
To see all the property we have for sale, click on the main “Land for Sale” link in the menu to see our properties. You can also search using keywords by clicking on the search icon right of the main menu.