Should I visit the property before buying? YES, we strongly recommend that you inspect the property before buying. You should also check with the county on the zoning and approved uses of the property. Particularly, the County Planning and Zoning Department will also be able to tell you about the current and future development plans for the area. While we will do our best to tell you everything we know about each property, nothing replaces the value of doing your own research and due diligence.
Who owns the properties being sold at the LandsandLots.com? All properties sold through the LandsandLots.com are either fully owned (FREE AND CLEAR) by us, or we have a right to sell them, such as through an option. It must be specifically noted that LandsandLots.com is not a real estate brokerage firm, but only the market place and brand name through which these properties are being sold by the owner direct to the buyers without a broker.
How does LandsandLots.com acquire their properties? Unlike other land sellers, we only purchase properties from private parties and DO NOT engage in purchasing through tax sales or foreclosure sales. All properties are bought with WARRANTY DEEDS (no quit claim deeds or Tax Deeds which are often hard to get title insurance for) and from mostly long time owners. It is the goal of LandsandLots.com to pass these bargains along to you.
Are the mineral rights guaranteed for the properties? We make no guarantees concerning mineral rights or the lack thereof. If we are aware of the lack of mineral rights, this will be disclosed. However, buyers should do their own research to find out if the property has mineral rights or lack thereof.
What GUARANTEES does LandsandLots.com offer? We guarantee that the property is free and clear of any governmental or private liens or encumbrances other than recurring assessments or bonds. Basically, we guarantee that at the point of ownership transfer from us to you, the property is free and clear and has a marketable title.
Are there any liens on the properties? No. We guaranty a free and clear marketable title on all properties we sell.
A down payment is listed on the website. Can I make a larger down payment? Yes, giving a larger down payment amount is absolutely possible. Please contact us with what amount you would like to put down (must be at least the minimum) and we will accommodate the contract for this. Of course you can also make additional monthly payments without any form of pre-payment penalty or fee.
If I want to make a larger down payment, how does this affect the loan? If the dollar amount that you use as a Down-Payment is larger than what is required, the monthly payment will be reduced. The term (length of the loan) can stay the same.
Do I need to qualify for financing or how does this work? NO, you don’t need to qualify for financing. We wish to make property ownership affordable for as many people as possible. Therefore, we do not require formal qualifications. It is very simple, you want to buy a piece of land and we want to sell it to you. That’s it. We do however, perform a check against a database in order to see if you have an IRS lien against you. This would be the ONLY disqualifying reason for the simple reason that IRS liens attach themselves to any property you own and will not be removed until they are paid off. Other than that we do not look at your credit at all. We do not look at your credit score and even bankruptcies are fine.
How long can I finance the property? This varies by property and will be noted in each property description. The larger the sale amount, the longer the term will be permitted to be.
Is there any penalty for paying off a property early? No. You can pay off your property at any time with no pre-payment penalty whatsoever. Just call us and let us know when you wish to pay if off and we will let you know your pay-off amount.
What kind of contract will I be signing when purchasing a piece of land from LandsandLots.com? When purchasing a piece of land from us, we will either sign a Sale Agreement, which is used for cash purchases. If purchasing via financing, you will sign either a Mortgage, Agreement for Deed or Lease Option which lays out all the terms of the transaction including the sale price, down payment, monthly payments, interest rate (if applicable), rent credits (if applicable), cost of loan, and all the details commonly in such a document. The original of these documents may be recorded in the county where the property is located. The determination of which document is used is based on how much is put down and the amount being financed.
If I pay cash or once the property is paid off, what kind of Deed do you convey the property with? Once a property purchased through LandsandLots.com is paid off, transfer of title occurs exclusively using Special Warranty Deeds. This form of deed gives you, the valued customer, one of the highest levels of protection.
When do I get the Deed to my property? Once you pay for a property in full, your title to the property will be conveyed via Special Warranty Deed within thirty (30) business days. We commit to signing all paperwork necessary to transfer ownership and deliver a Special Warranty deed to the recorder/clerk of the county the property is located. In addition you will receive copies of the notarized deed via mail so you can have proof that the seller has issued the deed to you. After the recording of the original Warranty deed is completed, the county recorder/clerk will then return it directly to you. Depending on the County it may take 4-14 weeks (depending on the county) for the county recorder/clerk to mail the recorded deed back to you.
How do I find the property when doing my research? We try to provide as much information for you on the property listing, including maps, but here are some additional hints on how to find properties for Sale. For each property listed on the site, we have provided a link to www.maps.google.com as well as an aerial picture of the property location, and the County/Assessor’s Parcel Map for each property.