We’d love for you to pay cash, since that gets you our best price. But we know not everyone has the full amount today, and that banks rarely make it easy to buy land. So on most of our properties, we’ll be your lender.
Why banks make land hard to buy
Many banks don’t make loans on vacant land at all. Those that do usually treat land as riskier than a house, so they typically require a credit check and good credit, a larger down payment than a home loan, and a longer approval process. For a lot of buyers, that’s where the dream ends.
How owner financing with us works
- No credit check. We own the land, so we decide, not a bank.
- You get the deed at closing. The land is in your name from day one, just as it would be with a bank loan.
- We hold a lien until it’s paid off, exactly as a bank would. When you make your final payment, we release the lien, and you own the land free and clear.
- An independent title company handles the closing, so your funds are held in escrow and the deed is recorded properly. (If you choose to skip title insurance, we can discuss other closing options.)
- Pay off early any time, with no penalty.
Cash or financing: which is right for you?
| Pay cash | Owner financing | |
|---|---|---|
| Price | Our lowest price | Costs more in total, because you pay over time |
| Credit check | None | None |
| Deed | At closing | At closing (with our lien until payoff) |
| Closing | Independent title company | Independent title company |
| Best for | Buyers who have the funds and want the best deal | Buyers who’d rather spread the cost out |
Getting the terms for a property
Terms can vary by property. On any listing, choose Ask About Financing and we’ll send you the full terms in writing: the price, down payment, monthly payment, interest rate and any fees, so you can compare them with paying cash before you decide. Nothing is final until you’ve reviewed and signed a written agreement.