FAQ & Financing Options.
About our Properties:
What can you tell me about the property?
We sell almost every property that we purchase. Everything we know about the property is included in the listing to the best of our knowledge. Please read the property listing closely. We are happy to answer questions, but there is virtually nothing we can tell you over phone or via email that's not already included in the listing. If you have very specific questions, contact the Planning/Zoning department of the County the property is located in.
Why is the property so cheap?
We review anywhere from 5 to 150+ properties for every 1 property that we purchase. We purchase discounted, wholesale properties and large numbers of properties at scale. We price properties for resale below market to encourage quicker sales. It's a win-win for both of us; you get immediate equity in your property, and we sell our property faster.
Does the property have any utilities?
Unless specifically indicated in the property listing, you should assume that the property does not have any utilities directly to the lot. Most times utilities are in the general area but will need to be expanded to the property. Electric poles can frequently be identified from aerial images and street views, but underground utilities are hard to determine without specific knowledge and/or a detailed investigation. Most of our rural properties are great “green” or “off the grid” tracts that would be perfect for alternative water, power, and sewer systems.
About the Buying Process:
How does purchasing a property from your website work?
It is a simple process. If the property is under $5,000.00 you can purchase it in full directly from the listing by clicking "Add to Cart." You can also choose the Non-Refundable 1-Week holding deposit of $250.00 if you wish to reserve the property via credit or debit card. Next, we will email you a purchase/sale agreement for your review and signature. Finally, pay the remaining balance owed on the property. And we'll take it from there! If you would rather close through a title company, we can, but you will have to cover those costs. We can also close with a mobile notary public in your area if you are more comfortable with that.
How can I reserve a property?
We sell properties on a “first deposit, first sold” basis. In order to reserve or hold a property, please make the $250.00 non-refundable deposit for the 1-week hold. We cannot reserve or hold a property without a deposit, and the first party who makes the deposit has the first right to purchase the property but must also sign a contract within seven (7) days.
Are you a real estate agent?
No, we are not licensed real estate agents. We are an independent, investment company that buys and sells real estate for our own account.
Why should I buy from you instead of a real estate agent?
Real estate commissions typically range form 3 to 10% of the purchase price. Buying directly from us avoids the extra cost of a commission. We eliminate the middleman, saving you even more.
Do I need a real estate agent?
No. You are not legally required to have an agent in order to buy real estate for yourself.
Do I need an attorney?
We have simplified the buying process with straight-forward, easy-to-read contracts and documents. We buy and sell the majority of our properties without attorney involvement on either side of the transaction. Nonetheless, you should perform your own due diligence and hire professional counsel, including an attorney, at your expense, if you think it's necessary.
Can you help me look for a specific kind of property?
We are not a real estate agent or broker, and we cannot represent you in any agency or legal capacity. If you're looking for a specific type of property or looking in a particular geographic area, please let us know and we will try our best to find that property for you!
Are there any hidden fees when buying land from you?
No, all fees and expenses associated with the purchase of a property will be included in the property listing. Unless specifically noted in the listing, or talked about with the buyer all sales will be processed and closed “in-house” and without the aid of a third party title company or escrow agent. If a buyer wants to close with a title company, all associated title, escrow, and closing fees will be paid by the buyer. If a buyer wants to close with a mobile notary, the fees associated with the notary services will be paid by the buyer also.
Is title insurance available?
Yes, at buyer's expense, any transaction can close through a title company and include issuance of a title policy. If we purchase a property with title insurance, we will be happy to give you a copy of the policy.
Is a survey available?
We rarely obtain a new survey when buying a property, although we may have a copy of a publicly-filed survey or the prior owner's survey. If a buyer wants a new survey, it will be at the buyer's expense.
About Financing Properties with Us:
What properties qualify for owner financing?
All of our properties on our Listings page qualify for financing. The down payment amount varies based on the cash price.
Do I qualify for owner financing?
Yes. Everyone has a unique financial situation that we are willing to work with. We will talk about the different options that we can take that will fit your budget and not make you stressed about the payments.
When do I get the Title?
When we finance land to buyers, we use a Land Installment Contract (you act as owner) but the deed will not be conveyed to the buyer until the final payment has been made on the loan.
Land Use Restrictions?
You may do whatever you want within the law and covenants or restrictions of the area (do your own due diligence). You may build on the property, 50% of property needs to be paid for, however whatever you build must comply to code (do your own due diligence). If we receive code enforcement complaints and or fines, we will forward them onto you. You will be expected to comply with the county’s request within the timeframe allotted by the county as written in the citation. If unable to comply within that time frame we reserve the right to treat it exactly like non-payment and issue a notice of default giving you a final 30 days to comply. So please comply with code enforcement and land use. We like happy, paying customers. We don’t like taking properties back, especially one where we need to clean off a bunch of unpermitted structures.
Loan Default?
In the event of default by Buyer, Seller may give written notice of such default to Buyer, and if said default is not corrected within five (5) days of such notice, the Seller shall give an additional notice thereof to Buyer that if such default has not been corrected and any delinquent payments (including reasonable expenses incurred by Seller as a result of the default) made current within thirty (30) days of this notice, the interests of Buyer in the Property shall be forfeited and Seller shall be entitled to immediate possession of the Property and may retain all monies paid by Buyer as liquidated damages, unless otherwise decreed by a court of competent jurisdiction.
Are there hidden fees with financing?
We charge a flat $12/month fee for the services of managing your note, we also prorate the annual taxes for the property. Whatever the annual tax amount is, we divide that by 12 and add that fee onto the note also. Besides those two things, there are no other fees!
What documents do we use for Financing? (Simple explanations, not intended for legal advice.)
1.) Installment Land Contract:
This agreement simply outlines the terms and conditions of the sale that you as buyer and Legacy Land LLC as seller mutually agreed upon. The main highlights of this contract are the purchase price, financing terms, receipt of your down payment, and our guarantee in writing. Without this agreement, there could be some misunderstanding of the terms we both agreed upon and we certainly know that the key to any good relationship is excellent communication without ambiguity.
2.) Promissory Note:
Basically, you promise to pay each month on time the specified monthly payment. There are no prepayment penalties. If you don’t pay on time we are going to charge you. If you continue to not pay on time we are going to charge you even more money. Don’t make any payments and we will send an email giving you 30 days to make payment before we terminate the contract and re-sell your land. Nevertheless, if you call us or email us and let us know what is going on, we certainly can try to help you out.
3.) ACH Authorization Form:
We charge $12/month for the privilege of managing your note. There will be a prorated monthly tax fee based on the annual assessed value of the land. To keep our prices low, we are only going to accept automatic payments. You must subscribe to automatic payments through ACH (automated clearing house) – an ACH transfer is a payment method for transferring funds from one bank account to another. We work with Actum Processing, who operates as a third party sender of ACH transactions – they have offered secure and reliable ACH payment processing solutions since 2011.
I heard you offer a 90-Day Money Back Guarantee?
We no longer offer a 90-Day Money-Back Guarantee.
“Beautiful land and happy landowners guaranteed.” – Legacy Land LLC
What can you tell me about the property?
We sell almost every property that we purchase. Everything we know about the property is included in the listing to the best of our knowledge. Please read the property listing closely. We are happy to answer questions, but there is virtually nothing we can tell you over phone or via email that's not already included in the listing. If you have very specific questions, contact the Planning/Zoning department of the County the property is located in.
Why is the property so cheap?
We review anywhere from 5 to 150+ properties for every 1 property that we purchase. We purchase discounted, wholesale properties and large numbers of properties at scale. We price properties for resale below market to encourage quicker sales. It's a win-win for both of us; you get immediate equity in your property, and we sell our property faster.
Does the property have any utilities?
Unless specifically indicated in the property listing, you should assume that the property does not have any utilities directly to the lot. Most times utilities are in the general area but will need to be expanded to the property. Electric poles can frequently be identified from aerial images and street views, but underground utilities are hard to determine without specific knowledge and/or a detailed investigation. Most of our rural properties are great “green” or “off the grid” tracts that would be perfect for alternative water, power, and sewer systems.
About the Buying Process:
How does purchasing a property from your website work?
It is a simple process. If the property is under $5,000.00 you can purchase it in full directly from the listing by clicking "Add to Cart." You can also choose the Non-Refundable 1-Week holding deposit of $250.00 if you wish to reserve the property via credit or debit card. Next, we will email you a purchase/sale agreement for your review and signature. Finally, pay the remaining balance owed on the property. And we'll take it from there! If you would rather close through a title company, we can, but you will have to cover those costs. We can also close with a mobile notary public in your area if you are more comfortable with that.
How can I reserve a property?
We sell properties on a “first deposit, first sold” basis. In order to reserve or hold a property, please make the $250.00 non-refundable deposit for the 1-week hold. We cannot reserve or hold a property without a deposit, and the first party who makes the deposit has the first right to purchase the property but must also sign a contract within seven (7) days.
Are you a real estate agent?
No, we are not licensed real estate agents. We are an independent, investment company that buys and sells real estate for our own account.
Why should I buy from you instead of a real estate agent?
Real estate commissions typically range form 3 to 10% of the purchase price. Buying directly from us avoids the extra cost of a commission. We eliminate the middleman, saving you even more.
Do I need a real estate agent?
No. You are not legally required to have an agent in order to buy real estate for yourself.
Do I need an attorney?
We have simplified the buying process with straight-forward, easy-to-read contracts and documents. We buy and sell the majority of our properties without attorney involvement on either side of the transaction. Nonetheless, you should perform your own due diligence and hire professional counsel, including an attorney, at your expense, if you think it's necessary.
Can you help me look for a specific kind of property?
We are not a real estate agent or broker, and we cannot represent you in any agency or legal capacity. If you're looking for a specific type of property or looking in a particular geographic area, please let us know and we will try our best to find that property for you!
Are there any hidden fees when buying land from you?
No, all fees and expenses associated with the purchase of a property will be included in the property listing. Unless specifically noted in the listing, or talked about with the buyer all sales will be processed and closed “in-house” and without the aid of a third party title company or escrow agent. If a buyer wants to close with a title company, all associated title, escrow, and closing fees will be paid by the buyer. If a buyer wants to close with a mobile notary, the fees associated with the notary services will be paid by the buyer also.
Is title insurance available?
Yes, at buyer's expense, any transaction can close through a title company and include issuance of a title policy. If we purchase a property with title insurance, we will be happy to give you a copy of the policy.
Is a survey available?
We rarely obtain a new survey when buying a property, although we may have a copy of a publicly-filed survey or the prior owner's survey. If a buyer wants a new survey, it will be at the buyer's expense.
About Financing Properties with Us:
What properties qualify for owner financing?
All of our properties on our Listings page qualify for financing. The down payment amount varies based on the cash price.
Do I qualify for owner financing?
Yes. Everyone has a unique financial situation that we are willing to work with. We will talk about the different options that we can take that will fit your budget and not make you stressed about the payments.
When do I get the Title?
When we finance land to buyers, we use a Land Installment Contract (you act as owner) but the deed will not be conveyed to the buyer until the final payment has been made on the loan.
Land Use Restrictions?
You may do whatever you want within the law and covenants or restrictions of the area (do your own due diligence). You may build on the property, 50% of property needs to be paid for, however whatever you build must comply to code (do your own due diligence). If we receive code enforcement complaints and or fines, we will forward them onto you. You will be expected to comply with the county’s request within the timeframe allotted by the county as written in the citation. If unable to comply within that time frame we reserve the right to treat it exactly like non-payment and issue a notice of default giving you a final 30 days to comply. So please comply with code enforcement and land use. We like happy, paying customers. We don’t like taking properties back, especially one where we need to clean off a bunch of unpermitted structures.
Loan Default?
In the event of default by Buyer, Seller may give written notice of such default to Buyer, and if said default is not corrected within five (5) days of such notice, the Seller shall give an additional notice thereof to Buyer that if such default has not been corrected and any delinquent payments (including reasonable expenses incurred by Seller as a result of the default) made current within thirty (30) days of this notice, the interests of Buyer in the Property shall be forfeited and Seller shall be entitled to immediate possession of the Property and may retain all monies paid by Buyer as liquidated damages, unless otherwise decreed by a court of competent jurisdiction.
Are there hidden fees with financing?
We charge a flat $12/month fee for the services of managing your note, we also prorate the annual taxes for the property. Whatever the annual tax amount is, we divide that by 12 and add that fee onto the note also. Besides those two things, there are no other fees!
What documents do we use for Financing? (Simple explanations, not intended for legal advice.)
1.) Installment Land Contract:
This agreement simply outlines the terms and conditions of the sale that you as buyer and Legacy Land LLC as seller mutually agreed upon. The main highlights of this contract are the purchase price, financing terms, receipt of your down payment, and our guarantee in writing. Without this agreement, there could be some misunderstanding of the terms we both agreed upon and we certainly know that the key to any good relationship is excellent communication without ambiguity.
2.) Promissory Note:
Basically, you promise to pay each month on time the specified monthly payment. There are no prepayment penalties. If you don’t pay on time we are going to charge you. If you continue to not pay on time we are going to charge you even more money. Don’t make any payments and we will send an email giving you 30 days to make payment before we terminate the contract and re-sell your land. Nevertheless, if you call us or email us and let us know what is going on, we certainly can try to help you out.
3.) ACH Authorization Form:
We charge $12/month for the privilege of managing your note. There will be a prorated monthly tax fee based on the annual assessed value of the land. To keep our prices low, we are only going to accept automatic payments. You must subscribe to automatic payments through ACH (automated clearing house) – an ACH transfer is a payment method for transferring funds from one bank account to another. We work with Actum Processing, who operates as a third party sender of ACH transactions – they have offered secure and reliable ACH payment processing solutions since 2011.
I heard you offer a 90-Day Money Back Guarantee?
We no longer offer a 90-Day Money-Back Guarantee.
“Beautiful land and happy landowners guaranteed.” – Legacy Land LLC
