STEP BY STEP GUIDE FOR HOW TO PURCHASE LAND
We close with a title company for our properties. They will perform escrow and issue you title insurance.
Cash Transaction
1
Submit the deposit through the property listing to reserve the property (applies against your purchase price).
2
We send you a sale agreement.
3
Once signed, we will forward the agreement to the title company.
4
The title company will correspond with you and send you closing documents for signing.
5
Send your final balance to the title company using their instructions.
6
The title company will close the transaction and send you your recorded deed.
Owner Financing Transaction
1
Submit the deposit through the property listing to reserve the property (applies against your purchase price).
2
We send you a sale agreement.
3
Once signed, we will forward the agreement to the title company.
4
The title company will correspond with you and send you closing documents for signing.
5
Send your remaining down payment to the title company using their instructions.
6
The title company will close the transaction and send you the recorded deed and deed of trust/mortgage (which is the lien against the property).
7
We will set you up for automatic monthly payments until the property is paid off. At this point, the deed of trust will be removed.
We will cover title insurance, escrow, and closing costs.
When financing using the process above, you get the deed immediately and can start living on the property! In cases where the down payment is very low, we will instead sign a land contract and promissory note, and deed the property to you once payments are completed. In this case, a home cannot be built on the land until the loan is paid.