# cheap land-owner financed



## Yknot (Jan 1, 2012)

Has anyone ever done business with this company? 

http://store.onlinelandsales.com/Financed_s/1862.htm


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## sandc (Apr 26, 2010)

I have not, but I do know that they are listing land in the same subdivisions as www.classiccountryland.com from my own looking. I know I have seen classic around for a while and am pretty sure that they developed antler ridge so maybe a call to them might net you some info. I have called and asked them a lot of questions over the last couple of years and they seem pretty nice.

Seeing them list land that I have previously seen listed elsewhere would really make me want to research them out a bit.


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## Yknot (Jan 1, 2012)

Yes, I saw that also. I can not find any info about them. The covenants on the Tennessee property are not good for me and the terms on some other property seem too good to be true. I will keep searching for info. Thank you.


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## BarbadosSheep (Jun 27, 2011)

Be really careful of those kind of places and read the contract really well. Most of them have terms that allow them to repo the land VERY fast, much faster than a conventional loan. In some cases, they can begin repo proceedings as soon as you are 30 days late. My SIL had land with one of those kind of places. When they repo, they get to keep all improvements.


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## Yknot (Jan 1, 2012)

Yes, that is true. I am more concerned with the possibility of paying off the loan and finding out they borrowed money from a bank using "my" land as collateral and having paid my note but can't get the deed because of a mortgage to a non paid lender. I might have to trust them for 30 years not to borrow against the land they sold me and there is not much info available on them.


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## tncreeker (Dec 23, 2011)

My story is a long one,,,but get a lawyer is my best advise. No closing cost means there is no title check, no lawyer. I found out 2 years after I bought (owner financed) my land that there was still a lein on in. It was eventually paid off,,but I never knew about it. I cant list with a realtor, etc. etc. Because I do not own it,,its just a sales contract. Be informed and ask the questions that I didnt. It was just so EASY,,,felt lucky to have found it and did not do my homework.


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