Does anybody know anything about this land company?

Discussion in 'Homesteading Questions' started by MikeJoel, Mar 23, 2005.

  1. MikeJoel

    MikeJoel Well-Known Member

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    Personally I wouldn't touch it from what I see on the screen.
    Something is up. Just print out the agreement and send it in along with the first month's payment? Come on, that isn't even a legal agreement. It is not witnessed.

    Mike
     
  2. Valmai

    Valmai Well-Known Member

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    Sep 29, 2004
    Location:
    Land of the Long White Cloud
    So many warning lights and sirens!!! And I dont even know anything about US property laws!!!!
    "If Buyer pays $500 down within one and 1/2 months of date of this contract, the interest will be lowered to 7%." No 'real' business person is going to give that sort of interest deduction unless the interest rate and or the land is way overpriced.

    "Time is of the essence in this contract." Get the sucker thinking they will miss out on the deal of the century and dont give them time to think it through.

    "Buyer may have been shown photographs of the general area where the land in this contract is located, however, no representations are made that these pictures are of the exact parcel of land being sold." AND "10 acres more or less." It could be 10 sq mtrs in a rubbish dump in Mexico.

    "After Buyers have paid $2,000.00 off purchase price, at Buyer's written request, Seller will prepare a mortgage or deed of trust and note for the balance then owed." As soon as you have paid $2000 what is to stop the 'seller' disappearing? You are probably only contributing to Patricias retirement fund.


    Hey I could be totally wrong (its happend before :eek: ) but I wouldnt touch that with a barge pole!!!
     

  3. JackieA

    JackieA Well-Known Member

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    Jun 21, 2004
    Location:
    Tulsa, OK
    The land is in Oklahoma and the seller lives in California? Call some real estate agents in that area of Oklahoma and see if they know anything about it. Think the seller would have it listed with one also...
    JackieA
     
  4. Cyngbaeld

    Cyngbaeld In Remembrance Supporter

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    SE Missouri
    Thanks, Jackie, I have a call in to a realtor in the area. This is just one of several properties that I am looking at. But I didn't think to ask her about this one. I will do so.

    'Time is of the essence' is a standard phrase in real estate contracts. It just means you have to meet your contractual deadline.

    I purchased land in Colorado from a seller in California and it was no problem It was an owner carry. He was splitting up a large parcel of land. But I did put money down and used a realtor, so got the title deed.

    I sent for more info on this and asked LOTS of questions. Will see what she says. LOL.
     
  5. Siryet

    Siryet In Remembrance

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    Location:
    River Valley, Arkansas
    When someone buys or looks at these parcels make sure you have all the facts.
    Land contracts don't give you any title in the property and if the seller goes bankrupt you might loose all your payments, and land.

    Who is responsible for the roads?

    I bought a piece of land from a land developer and when thw winter hit we couldn't drive down our road because it was a muddy mess and the uts were so deep the cars would bottom out and the wheels would just spin in place.

    If you are looking for inexpensive land got to a realtor in that area, or united country agent.

    http://www.eufaula-ok-real-estate.com/search_all.htm


    I hope you DO NOT buy land without checking it out first, seeing a survey, seeing the land after a hard rain, checking into flood problems etc.
     
  6. wy0mn

    wy0mn Transplanted RedNeck

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    Sep 18, 2003
    I thought I had some western land in the bag, so to speak.
    I'd visited the site several years ago & met with the realtor.
    Now, however, they have decided to add numerous covenants to this extremely remote property!
    Basically I'm afraid they've given too many rights to themselves & any prospective neighbors. After I purchasing property I don't want anyone changing the rules on me later, due to loopholes in the covenants.
    You might wanna look into this too...
     
  7. big rockpile

    big rockpile If I need a Shelter

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    This Guy is on the up and up,his land seems to be high $$$,but it is zero down.The Pacel here on Quail Ridge is across the holler from me.There is a new house across the road and one going up next to it.

    http://www.ozarkland.com/index.html

    big rockpile