# Owner Finacncing?



## DEVILDOG (Dec 20, 2010)

Anybody know of any leads for owner financed housing with acreage, or rent to buy?


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## AngieM2 (May 10, 2002)

you might want to put where you're most interested in landing. 

Might help. good luck.


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## Otter (Jan 15, 2008)

How I got mine was I put a "Land Wanted" ad up on the farm & garden section of my local craigslist. I spoke about my finances, what I could afford, what I could put down and what I was looking for.
I bought our place owner finance, very low down and no closing costs, but a hefty 9% interest rate. I can pre-pay, keep my payments a month ahead or refinance with no penalty.
The seller and I have both been happy with it.


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## DEVILDOG (Dec 20, 2010)

Angie, not really particular about where I end up. Just want some acreage so that I can have a few animals and a decent size garden.


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## fantasymaker (Aug 28, 2005)

Got Any Idea of how big a payment you want?


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## hercsmama (Jan 15, 2004)

There is a place Dh and I looked at. It's in Nebraska, a town called Pleasenton. About 26 miles north of Kearney. If you type kearneyhub. com into your search, you het the cyber local paper. The add was still there yesterday. 10 acres, I believe,2000+ sq ft 3 bed w2 bath. Has a pond, and is surrounded by a cattle ranch.
It's for sale or lease to buy. The owners dad is handling the details. Real nice people, just not the place for us.
I want to say it was 120,000.00 , but he will do owner finance.


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## Evons hubby (Oct 3, 2005)

I have a house on a couple acres I would be willing to owner finance. Its a 3 bdrm, one bath out in the country. Near Burkesville (South central Ky) Its currently listed with Metcalfe Realty in Edmonton Ky... you can contact them for details http://www.unitedcountry.com/search...&Page=1&Office=16056&No=16056-00293&AU=N&FT=P or PM me here.


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## rickfrosty (Jun 19, 2008)

DEVILDOG said:


> Anybody know of any leads for owner financed housing with acreage, or rent to buy?


Don't know where you're interested in, but I know 104 acres in good location in Maine for about $75k & owners will finance, has power at 2 lane blacktop road & nice drive onto land w/big filled area to put garage, barn, workshop or house, but there is no building there as yet.
Only 'filled' because road project needed place to put fill, not wet land at all.


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## InvalidID (Feb 18, 2011)

rickfrosty said:


> Don't know where you're interested in, but I know 104 acres in good location in Maine for about $75k & owners will finance, has power at 2 lane blacktop road & nice drive onto land w/big filled area to put garage, barn, workshop or house, but there is no building there as yet.
> Only 'filled' because road project needed place to put fill, not wet land at all.


 I'm almost tempted to jump on that myself. I've been getting homesick lately.


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## SkizzlePig (May 14, 2006)

If I may, Devildog, I think Angie asked the right leading question. 

I would first find a place that fits your "style". Think about the climate you want to live in, think about the hardiness zone and the plants you'd like to keep ... think, too, about the people you'd like to be around. These are critically important questions to be honest with yourself about. If you move to "anyplace" and end up hating the humidity|frozen winters|local politics ... you'd give anything to make a more educated decisions.

I confidently submit that in ANY region there are small to medium-sized tracts where the owner will hold the contract. Acreage prices are slipping a bit and a seller might consider locking in a price now and making some interest until the buyer can secure bank financing. Most sellers don't immediately offer owner financing, because they'd rather get the property sold and liquidated ... AND owner financed properties brings everyone out of the woodwork that have no real means of making the payment.

If you're sincere, have some money for a small down (or security) and have an income that a seller can rely on ... you'll find that property. Trust me ... they're out there.

Good luck! And I hope you find your Shangri La!


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## tncreeker (Dec 23, 2011)

There is a company that sells owner financed in TN.,KY.,AL., area. It`s Country Places inc. The more you put down the less interest rate you have. There is a 300.00 closing fee, but not really sure why. No credit check, no job, no prob. All the land avail is pretty much raw without homes. Good luck in your search.


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## tncreeker (Dec 23, 2011)

This is something I just learned about owner finance and thought I would pass on. I have a real estate sales contract w/ country places inc. It was done without lawyers, just a notary. Cheap and quick. Draw back,,,,,the seller is the "owner" which means that I cannot list this property with a real estate company to sell it. My name is no where on any paper work any where. The county gets the taxes through country places inc. I have never seen the tax bill, because its not mine. The lot next to mine is part of the same tract as mine. So until I pay mine off or someone pays for that one the taxes are figured out per acre by country places. I want to sell but they are not going to help me,,they have properties they are trying to sell. The contract is transferable but I have so much invested that I need a good sized down payment. I`m sorta stuck at this point. So theres my 2 cents worth on not having a lawyer for ANY contract. Again,,good luck.


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## willow_girl (Dec 7, 2002)

Make sure that there is not a clause in the contract that allows the seller to encumber the property with debt. 

I hold a land contract on a farm I owned in Michigan. The boilerplate contract we signed allows me to borrow against my equity in the property. If I were to do so, and then die or default, I imagine it would create a real nightmare for my buyer. I was surprised he agreed to those terms.


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## edcopp (Oct 9, 2004)

DEVILDOG said:


> Anybody know of any leads for owner financed housing with acreage, or rent to buy?


The most important part of "owner financing" is the purchaser.

So how does that guy look? Credit score? Does he have any down payment money? How much? Does he have income? How much? How stable is that income? 

That is a starter for the questions that any potential seller will ask usually in the first minute or two of the conversation. If he does not ask such questions then it will be your turn to get suspicious.

If you do not like the way the prospective purchaser looks (that would be you), change the picture. Polish up the image. As a used car dealer would say "put some lipstick on the pig".

Any potential seller can be asked to consider seller financing. Often they will consider that move. The next thing that they will consider is you.


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