Learn More About The Buying Process
There are two ways that you can purchase property which are Owner financing and Cash.
Owner Financing – Monthly Payments
Owner financing is a way for you to purchase land without going through a bank for a loan, worrying about the headaches of traditional financing, and NO credit checks for this process. It’s as simple as paying the doc fee and down payment to get started.
Here is the process after making the downpayment:
- Once the doc fee is received, you’ll be asked to send over some info to me to fill into the closing documents that we will sign which include: A Promissory Note, Land Contract, and a Purchase Contract.
- Documents will be uploaded to Signnow.com where you’ll be able to read and review them and we both will sign. You’ll get a signed copy to download and save for your records.
- The monthly payments will start approximately 30 days after signing.
- You’ll be able to monitor your loan through an online loan management system Geek Pay that will have your payments set up to withdraw automatically each month. Geek Pay will allow you to create a login where you’re able to access your loan overview, see when your next payment is (will be the same date each month), make additional payments, see your past payments, and the remaining balance.
- Once the final note payment is received, we will sign the deed and get the rest of the documents recorded with the county within 30 days. You’ll receive the electronic recorded version for proof of recording and then a closing packet with the original deed will be sent to your mailing address for your records.
- The purchase agreement will be created within 24-48 hrs after purchase, although many times it’s much quicker than this.
Cash Purchase
Here is the process after making the $250 document processing fee:
- I will create the documents to complete the sale, which will include the Warranty Deed (I will sign this over to you) and Purchase Agreement (both of us will sign.)
- I will send you over the documents to review for any errors and make sure your personal info is correct for the title transfer.
- The Purchase Agreement will be uploaded to SignNow.com where you can review and sign the agreement electronically. You’ll be able to retain a copy of this for your records as well.
- I will get the deed physically signed and notarized, and send you over verification that it has been.
- After proof of the deed has been sent to you, we will arrange the payment for the remainder of the payment for the property. We can accept wire transfers, cashiers check, PayPal, Venmo, Google Pay, or credit card (with a processing fee.)
- The deed will be recorded with the county after the full purchasing amount has been received. Typically, the deed will be recorded within a day of the payment, depending on if the county is open and they accept electronic recordings. If not, you will be notified of when it can be recorded.
- Once recorded, you will receive the electronic recorded copy (if electronically recorded) and also receive a closing packet by USPS that will contain the originally deed we have signed over to you that was recorded.
All of the property is owned through our business Ace Land Investments LLC. It’s all registered and recorded through the proper county, and all properties that we own are thoroughly inspected to insure taxes are up to date, clean titles, no liens or encumbrances at the time of sale. All is backed by transfer of a warranty deed, that warrants the property against title issues.
