5 Disadvantages of Owner Financing Land
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- Опубліковано 19 жов 2024
- Owner financing off grid property is one way many people are able to afford to buy their land. For whatever reason, some people just cannot get conventional financing, so they are left with owner-financing land. Owner financing land can be a great way to acquire property, but there are pitfalls to owner financing off grid land, here are 5 things you need to watch for if you find some land and want to owner finance the property.
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#offgridliving #offgridland #ownerfinancing
A year old, but a great video, and great brush-up! I hadn’t looked at property for a while, so the reminders are needed, thanks!
You are welcome! Thanks for taking the time to comment, it's greatly appreciated!
I've sold several properties with owner financing. Every time, the buyers voluntarily exited the contract. None ever paid more than 6 months. Our contracts were very fair and thoroughly written by an attorney. Not all sellers are crooks, but I'm sure there's plenty that are. This is all good advice. I don't offer owner financing anymore because I didn't enjoy selling the same properties multiple times. I still buy and sell, buts it's cash or bank lending only. The buyers are qualified this way. People, beware!!!
Thanks for telling your story. I know all sellers are not crooked. I'd dare to say only a small fraction are. But these days, it seems more and more try to take advantage of people with poor or no credit. Or land in areas where the county will not allow buildings or overbearing regulations.
That’s cool man, I’m doing owner finance rn. How do I get to cut down some trees for space?
I owner financed land and got an attorney. He said get a deed, with a lien.
In SC you pay the "estate" you still own the land even if the owner dies.
Trust me. Do this!!
Thanks!
Always have a real estate attorney to be involved in every aspect of any purchase to any down payment is in Your attorney escrow account. This applies to stick built houses an you do your own research of property an back taxes paid in full. Realtors don't like this but your rights an your money an subject to your attorney approval no easements at all. Very good video
Thankyou! I really appreciate all this information. God bless you! Amen🙏🙏
Thank you for taking the time to comment. I appreciate it!
Thank you for your information. GOD BLESS YOU.
Thank you for this video. I was looking at purchasing a tax deed house that was owner financed. I would have to do renovations to make it livable. I was hesitant because we would have to use their attorney, which cost 1000. I was waiting for a day to go visit the property before I made a commitment. Your video has stopped me from making a huge error. Especially the clause about what will happen if they die or a spouse didn't want to sell. I previously looked at owner financed land in Missouri and when I read the small print, the buyer was not allowed to do anything, including moving a structure onsite, until the property was completely paid off.
Thanks for sharing that story! Owner financing can be so rewarding with the right contract and seller. It just seems like anymore though, more and more people use it to try and take advantage of people though.
Thanks for sharing with us, some good advice and your right people should find out as much as they can about the land they want to buy. We are new to your channel and look forward to watching more.
Great info. Thank you!
Some great wisdom from a man that has been around the block the few times. As someone looking to purchase some off-grid land myself in Oklahoma, your videos have been very insightful!
Yep. Use a title company to handle the contract.
Poor Animals are acting crazy cause the weather is fixing to get bad bad...it's a must for them to get ready fast...we just had tornado lots of places in Texas and now next week dropping below freezing that fast....
Make sure you are ready before it gets really cold. God bless you and your family! Amen🙏
The Homestead crossing will not allow you to cut any trees bigger then 3 to 4 inches if bigger you must call them to ask to cut it Iocated in southen mo. and your In charge of taking care of roads. From your property to main road. Also Instant Acres has restrictions on how close you can build to the property line Both company located in Southern Missouri they offer land contract for deed.
Many utility and drainage easements require that you cannot build to the edge of your property, in many places, perhaps all?
That's something to look at, certainly, and to keep in mind when you are fixing to build a home, outbuildings, barns, fences, etc.
Many have a 15 or 20' utility easement. If you're in or near a city, I'd about count on it.
In some areas, you can build within that area, but if the county or city or utility company needs access, they can remove whatever is there.
great video, but are you ever gonna drag that cigarette outa that pocket
I had to go back and watch the video to see what you were seeing. I haven't smoked in over 20 years so I was a little confused what you saw. I still don't know what was in my pocket!!! lol but I can assure you it wasn't a smoke!
Off grid bob and on grid Jane lol 😂
Would you buy land and build a home out of shipping containers?
I hope to meet you one day sir.
If I could get a good price on shipping containers, I would certainly give it a try. But I believe I could build quicker with lumber.
In wouldn't build with sea containers. Steel condensates like crazy and without proper ventilation will cause moisture problems that will lead to mold. Metal works great on roofs with vented ridge cap, but there's no way I would turn a steel box into a house or cabin. Shed? Maybe......
@@MountainRancher So, you would build only with lumber 🪵? I plan on paying off my debt, buying some land as well as an RV. I would like to start building a home on the land that I buy, I was thinking a shipping container would be cheaper and quicker. Any advice?
@@Emmi_cheetoos2000 yes sir, I would build with wood. Based on the container videos I’ve watched, wood is also quicker. As for price, no amount of mold will be worth any possible discounts. It’s a free world, well supposed to be. Haha. Suit yourself and best wishes.
Can’t hear you
What type of device are you watching/listening to the video on?
@@1acrehomesteader43 cell phone
@@MrBdjoker2000 thanks. I've been meaning to invest in a mic, guess Santa is gonna have to expedite me one! :)
😅
Keep make no videos because I’m going to watch them all. 😊
SPOT-ON legal contract the only way to go i wood go one step further have it surveyed
Thanks for commenting! Definetly have it surveyed!