seeking experience/info selling land owner finance

[Obie]

Down load and fill it out yourself.Take it to a title company for the rest.

https://konarealestatenow.files.wordpres...03/pc1.pdf

[DanielP]

I use a loan processing Company called Weststar to handle all of my loan processing. Payments are sent to them, they deposit it into my bank account. They email me notice of payments received, calculate principal, interest, loan balance and late fees and emails me a spread sheet after each payment. Buyer and I each pay $10/month.

[pbmaise]

No construction till final payment is largely based on eviction hassle. If they built a legal residence on the property you have to foreclose and evict a homeowner from their residence.

[SuperGu]

quote:

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Originally posted by pbmaise

No construction till final payment is largely based on eviction hassle. If they built a legal residence on the property you have to foreclose and evict a homeowner from their residence.

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Negative. The loan is for the land, not for improvements to the land. Recovery of any permitted construction/mortgage loan would be between the bank and the buyer. The seller of the land had nothing to do with that. Two separate deals made between different unconnected parties. Most likely scenario would be a bank offering a construction loan which would retire (payoff) land loan before construction began.


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