Re: Buying land on contract

Posted by RC on October 15, 2003 at 10:24:21 from (65.122.152.1):

In Reply to: Buying land on contract posted by dhermesc on October 15, 2003 at 06:05:19:

I am not sure what the Banking laws are like in Kansas but:
VADAVE has good advice!
Private contracts are generally a great deal for the seller and the buyer. Sometimes it depends on the sellers age, people in the there 70's sometimes want all their money in a hurry in case they die?
Pay 300 or 400 dollars to consult with an attorney an close the deal with an attorney if you choose the priave contract.
How bad do you want the property? There are many options in aquiring the money.
1. AVDAVES WAY
2. A consumer finance company interest rate will be steep.
3. Private money, there are private people out there that loan money for land, interest rate can be steep, look in your local want ads.
4. Find a licensed mortage broker to broker the deal, interest rate should be far for the deal and the situation.
There are 100's of private licensed bonded professional mortage brokers out there. I like using the ones out of Washington State. The laws there are brutel on that industry, they actually have a government entity that watch dogs them!!
In all cases there is going to have to be an appraisal, hopefully she isn't asking to much.
The broker we have used on property here in Oklahoma is a Allied Finance in Spokane, Washington, 509-922-6100 (Jennifer). Always makes a deal happen and very very reasonable and responsive.

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