Understanding Loans

The first thing many people think of when they see a Land for Sale sign is: Where will I get the money to buy it? Loans are a popular choice, simply because cash can be difficult to come by, or let go of if you have it. If you have never bought land before, you need to know a little about the different kinds of loans. Here is an overview.

1. Owner Financed Loans

When an owner finances Land for Sale, the terms are generally very easy and go through very quickly. The process of getting an owner-financed land loan is painless for the borrower. You usually do not need a credit check for the loan, and you do not have to keep paying for the entire length of time the loan was set for. If you can pay it off sooner, everyone is happy.

You may have to pay a small down payment, but the collateral for the loan is the deed to the property. Once you have set up the loan and paid the small down payment, you do not have to pay all the excessive closing costs to complete the process that you do with other types of loans. The loan goes through quickly and easily, and you pay a reasonable interest rate to boot.

2. Financial Institution Loans

When you get a loan for Land for Sale through a financial institution such as a bank or finance company, you have to jump through many hoops just to start the process. You have to fill out numerous forms about your income, finances, and taxes. You have to have a credit check and provide proof of employment. On top of all that, the down payment required may be a very large part of the overall cost of the Land for Sale.

A land loan through a bank can take as long as months to go through, and all the while you have your money tied up for the down payment. The interest rates can vary widely, depending on your credit score and other factors. If you want to pay off the loan early, you might have to pay a prepayment penalty. Some land loans with banks even have balloon payments that loom ahead the whole time you are paying your regular payments throughout the loan. These are all reasons that many people choose to buy Land for Sale with owner financing.

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The mark of a really great company is how they handle problems with their customers. I had a problem with property that I purchased recently, unforeseeable for both myself and Lands Sales, and asked if I could switch to another property. The entire process took less than 20 minutes and I was very happy with how it was handled; finally a company in America that cares for its customers.

William T.Kansas City, Missouri

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Virginia B.Los Angeles, California

We would like to thank Land Sales Company for the great customer service experience we had when purchasing our land. We purchased land years ago and it was never this easy. It was very quick, and the representative answered all of our questions before we purchased our property. We recommend Land Sales Company to anyone looking to buy a property with small down payments, small monthly payments, and a perfect customer service experience.

Tammy B.Fort Polk, Louisiana

Thank you Land Sales Company for the help you extended in making it possible for me to buy that piece of land in northern California! I have never own my own property here in America. I even call myself a "forever renter" but since I retired, I thought of going to country living ...and my cruising the internet one day in 0ct 2010 paid off because I stumbled upon your website and learned of the possibilities of acquiring affordable land. As a first time buyer I highly appreciate all the help I got from the staff of Land Sales Company More power to you all!

Leonor V.
Leonor V.San Francisco, California

I would like to thank Land Sales Company for the great customer service experience I had when purchasing my land. It was very quick & Easy and the representative’s answered all of my questions before & after I purchased my property. I recommend Land Sales Company to anyone looking to buy a property with a small down payments & small easy monthly payments with A company with perfect customer service experience. I would like to say a Big Thank You! to all at Land Sales Company.

Rodney P.
Rodney P.United Kingdom

I have purchased two properties (one with my son), and both transactions went extremely well. The info packets are perfect. I will definitely recommend Land Sales Company to my family and friends.

Thank you!

Don H.
Don H.Hemet, California

I’ve purchased two properties from Land Sales Company and I am very happy with their customer service and sales staff. The process was very simple and it has been a pleasure doing business with them. Thanks to Land Sales Company; I'm all smiles this holiday season!

Jacque A.
Jacque A.Los Angeles, California

Buying property from Land Sales was very simple, and now that I am their customer they treat me great! Their paperwork is clear and they are always around to answer any questions I have.

Cassius B.
Cassius B.Richmond, California

My experiences with Land Sales Company have been great. They have done everything they have promised and it has been a very pleasurable experience. I have two commercial properties in Texas and they are excellent investments.

Wendell M.
Wendell M.Dallas, Texas

My wife, Kristin and I purchased several properties from Land Sales Company within the last few years. It has always been an easy process; much easier than any other company we have worked with. The paperwork was and is always very clear and easy to understand, and any time we need to call customer service, we always get a friendly person, and get all of our questions answered. We recommend Land Sales Company to anyone looking to buy a property with a great location, reasonable down payments, small monthly payments, and great customer service.

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Bruce JSt.Paul, Minnesota
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