Financing an Amish House

Discussion in 'Homesteading Questions' started by ChiliPalmer, Sep 29, 2005.

  1. ChiliPalmer

    ChiliPalmer Well-Known Member

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    I've Googled and found nothing. Anyone here know more about mortgages than poor Chili, who is about Googled out?

    We found a house for sale, previous owner (owner-built) was Amish. It has gas or wood everything but no electricity, obviously. We're pre-approved by our lender, contingent on home appraisal and inspection. Will the bank balk at being asked to finance a house lacking in electric power, or would it merely be looked at as a "construction" loan?

    No, I haven't figured out how they're powering the well. Generator? I've emailed to ask and will be calling in the morning.
     
  2. Cyngbaeld

    Cyngbaeld In Remembrance Supporter

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    Why don't you just call your lender and ask?
     

  3. labrat

    labrat Well-Known Member

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    Our future homestead is also without electricity and water. I am still upgrading for future occupation. We have propane for the cook stove, right now I haul water for drinking, but in the future after I fix the roof, I plan to harvest rain water, if we ever see any again, and plan on digging a well. For heat we have a wood-burning stove. For electric I plan on a small solar unit. I don't want the hassle or expense of a septic or lagoon system, so we have a sawdust toilet. I also had a problem with financing and the owner willingly accepted a land contract with 20% down. The mortgage company did not care about my lifestyle choice and because the house is already built, a construction loan was out of the question. Remember the system is set up so that everyone lives the urbane lifestyle with connection to the grid.
     
  4. Gary in ohio

    Gary in ohio Well-Known Member Supporter

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    I know many "AMISH BUILT" how are now required to have electrical installed even if they will never be used. Most likley you will end up with a construction loan and will be required to put in electrical wires unless you live in a heavy amsih populated area and an amish friendly or knowledgeable lending institution.
     
  5. shelljo

    shelljo Well-Known Member Supporter

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    Sometimes Google isn't the best place to look. Googles great, but call someone. A REAL person is better than google anyday.
     
  6. ChiliPalmer

    ChiliPalmer Well-Known Member

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    Don't know about yours, but my lender isn't open late at night. After twice taking time to think about it, sit around on it, and then find the real estate attorney and local inspector only to find that the house had gone under contract that day, I wanted to get looking for a real estate attorney ASAP. And thanks for being such a pleasant, helpful little kittycat.
     
  7. MaryNY

    MaryNY Well-Known Member

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    Chili --

    Is there an "Amish" or "Mennonite" community in that area -- is that why this house was built there? If so, perhaps you should try to contact a local Mennonite lawyer, banker or realtor. They probably could answer your questions. Or, you might be able to visit with an Amish person and ask how their community gets financing for houses like this and who they get it from . . . then go talk with that bank/business/whatever. The house sounds great; I'd love to find a place like that!! Good luck!!

    MaryNY
     
  8. ChiliPalmer

    ChiliPalmer Well-Known Member

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    Thanks all, but I called the realtor today and the owners accepted an offer this morning. I am having no manner of luck with that.
     
  9. heather

    heather Well-Known Member

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    I'm curious why you would need a real estate attorney?
    Guess it doesn't matter now - guess this one wasn't meant to be!
    Best wishes in finding the right place for you
     
  10. Blu3duk

    Blu3duk Well-Known Member

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    Everything in life happens for a reason... and you cant sit around trying to figger it all out......

    What you can do is if you think you need a realestqate attornor, then find one first, before you look at properties, get one on a retainer..... same with a home inspector, and a mortgage broker..... make contacts first, look for a propeerty that fits your needs and make a phone call to everyone.....

    and if proprties are that hot selling in your area then you might need to go farther out.... or to a completely different area for slower moving properties.....

    just a couple thoughts.

    William
     
  11. ChiliPalmer

    ChiliPalmer Well-Known Member

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    William, I'm in FL and looking throughout IA, ND, SD, KY and WV... in various parts of each state. But thanks for the advice.
     
  12. oz in SC

    oz in SC Well-Known Member

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    Why did you choose those areas if I may ask?

    When we were looking we looked within 500 miles of here and S-T-R-E-T-C-H-E-D that out a little further....we searched for about four years(I know you don't won't to read that...) and then quite by accident found our place in NC...a state we had given up on as too expensive.

    There is a older farmhouse on 20 acres for sale in the town we have land in NC,it is priced at $179,000...if interested I have a link.
     
  13. ChiliPalmer

    ChiliPalmer Well-Known Member

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    We hate Florida. For the same reasons we hate Florida, most of the south is out. The west coast (where I'm from) is too pricey. We chose those states for minimal government interference, climate, cost of living and acceptance of farming/rural lifestyles. And no hurricanes.
     
  14. shawnee

    shawnee Well-Known Member

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    I'm in central Ks. and a nephew of ours wanted to find a farmhouse between Hutchinson and Wichita. Found 80 acres a little to the west of that area. Mennonite area. No electricity. Fortune to put in and not a DAB of insulation. Easily explains the 3 wood stoves in that house - 2 upstairs and one downstairs, NOT COUNTING the wood stove in room off kitchen they cooked in. Can you believe the summers from cookin in that place? They dearly loved it and attending chicken coop and barn and horse corral. Asked $175,00. Someone made a bid they accepted; but backed out when they found out degree of work necessary on inside. Nephew got it for $135,00 and pledges of help from rest of family. Thank God his side of family is plumbing/wiring gifted. They're excited and planning on moving in first of year (calculated time wiring, insulation, plumbing and furnace installation will be completed). They're keeping woodstoves to supplement and putting in central air as both their kids have allergies and open windows during spring and fall literally debilitate them. We offered plumbing and insulation help. Gonna be an old-fashioned all hands on deck sorta thing! Actually, we're excited to have them settle here from Arizona and look forward to enjoying them for "neighbors". Hubby was a sort of role-model and we all get along really well. Point of post is ya gotta watch out for those homes that are Amish/Mennonite owned. Cost will be prohibitive but they are BIG money-earning couple with chemical industrial degrees. Land is cheap out here in Ks. and as far as I'm concerned the only drawback in north, central and western Ks. is lack of "woods"; upside is pelnty of land to use as intensively as desired without clearing out.