What is vacant land?
Vacant land refers to a piece of real estate without any structures or buildings on it.
Why invest in vacant land?
Investing in vacant land can offer potential for future development, appreciation, and various use possibilities like recreation, camping, or homesteading.
How can I reserve a property?
Our properties are sold on a “first deposit, first sold” basis. To reserve or hold a property, you will need to make a deposit of the down payment amount. Please note that we cannot reserve or hold a property without a deposit, and the first party to make the deposit has the first right to purchase the property. However, the buyer must also sign a contract within seven days.
What fees are charged?
If you are financing a property, in addition to the monthly principal payment amount you will be charged prorated property taxes and a note service fee. We collect the property taxes each month you control the property and pay the county annually. The note service fee is used to pay a portion of the bank fees that are incurred from your payments. The note service fee is $10 and the prorated taxes are the “Approximate Yearly Taxes” divided by 12. If you are paying cash for a property, depending on what is negotiated you could be charged a document fee and the costs incurred by closing through a title company. We normally pay all closing costs for cash purchases if the buyer chooses to close in-house with us.
How long does it take to close on a property after I make my down payment?
Once your down payment clears, we’ll send out your entire deed package via email. This packet will include your Land Contract, Promissory Note, and Purchase Sale Agreement. Once you sign the documents digitally we will set you up on automatic payments. Once you pay off your note, we will issue your Warranty Deed. The county will then mail you the original recorded deed for your files. It’s that simple. The whole process usually takes about two weeks, and most of that is the time it takes for the county to process the paperwork. Once you make your final payment on the property, we’ll Issue you your Warranty Deed. At that point you own it free and clear.
What can I do on the land?
Each county and property has unique zoning restrictions. It is the buyer’s responsibility to confirm what is allowed on a property in accordance with the appropriate zoning. The county’s Zoning and Planning Department can answer all zoning questions.
Can I build on the land I purchase?
After the note is paid in full the parcel can be built upon. You cannot live on a property while you are making payments. RVs, trailers, campers, etc. are not permanently allowed on a property while you are making payments. Generally, you are not able to alter the property in any way while you are making payments. This includes clearing trees, building any structures, etc. After the property is paid off and the deed recorded in your name, you are free to do anything on your property in accordance with the zoning.
Are there utilities available on the land?
Unless explicitly stated in the property listing, it is advisable to assume that the property does not have direct access to utilities. While utilities may be available in the general vicinity, they may require expansion or connection to reach the property itself. Aerial images and street views can sometimes help identify electric poles, but determining the availability of underground utilities usually requires specific knowledge or a detailed investigation. Many of our rural properties are ideal for alternative water, power, and sewer systems, making them excellent options for those interested in “green” or “off the grid” living.
Why should I buy from you instead of a real estate agent?
Choosing to purchase directly from us eliminates the additional cost of real estate commissions, which typically range from 3 to 10% of the purchase price. By bypassing the involvement of a middleman, you can save even more on your purchase.
Is title insurance available?
Yes, at the buyer’s expense, any transaction can be closed through a title company, which can provide a title policy. If we purchased a property with title insurance, we will be happy to provide you with a copy of the policy.
Are you a real estate agent?
No, we are not licensed real estate agents. We operate as an independent investment company that buys and sells real estate for our own account.
What is owner financing?
Owner financing allows buyers to purchase land with a down payment and make monthly payments directly to the seller.
Do you offer financing?
Yes we do. We offer easy seller financing to all buyers. There are no credit checks and pre-approvals in order to use our financing. Also, there are no prepayment penalties.
What is the advantage of buying owner-financed land?
Owner financing can provide flexibility for buyers who might not qualify for traditional financing.
Who qualifies for financing?
Anyone can qualify. There is no application process and there is no credit check. Regardless of your financial situation, we don’t discriminate. All you need to start is the downpayment and doc fee. The monthly payments (including fees) will be automatically drafted from your account.
What is the process of buying land through owner financing?
Review the terms, make a down payment, sign an agreement, and start making regular payments through the link provided.
Can I negotiate the terms of owner financing?
Yes, negotiation is possible. Work with us to establish terms that suit us both.
How do property taxes work for vacant land?
Tax will be added to the monthly payment. It generally is not too much as vacant land typically incurs lower property taxes compared to developed properties.
What is due diligence in land buying?
Due diligence involves researching the land’s history, boundaries, zoning, and other important factors before buying.
Do I need a real estate agent to buy land?
Everything can be done between buyer and seller. Which also helps save on cost.
Are there any restrictions on land use?
Zoning regulations and local ordinances dictate how the land can be used. Check with local authorities.
Do you own the properties?
Yes. All properties for sale are owned or controlled by American Tract & Parcel
Why is the property so cheap?
Our properties are priced competitively for a reason. We thoroughly review numerous properties to find the ones we purchase. By acquiring discounted, wholesale properties and buying in bulk, we are able to offer properties below market value. This approach benefits both parties involved: you gain immediate equity in your property, and we can facilitate faster sales.
Can I visit the land before making a purchase?
Absolutely! In fact we encourage it. Feel free to drive by any of our properties at any time to take a look for yourself! We can also provide GPS coordinates of the property boundaries upon request.
Can you come meet me at a property?
We sell land across the county and are not local to our lots for guided tours, but are always just a phone call away to answer any questions.
Do I need to use a title company?
Unless otherwise mentioned in the listing or discussed with the buyer, all sales will be processed and closed “in-house,” without the involvement of a third-party title company or escrow agent. If a buyer wishes to close with a title company, all associated title, escrow, and closing fees will be the responsibility of the buyer. Similarly, if a buyer prefers to close with a mobile notary, the fees for notary services will be borne by the buyer.
Is a survey available?
While acquiring a property, it is uncommon for us to obtain a new survey. However, we may have access to a publicly-filed survey or the survey provided by the previous owner. If a buyer desires a new survey, the cost of obtaining one will be the buyer’s responsibility.