Thursday, November 3, 2016
Wednesday, September 16, 2015
Monday, April 6, 2015
MLS 566370
MLS 566370 8000 per ac. National Land averages rise slightly 1st 1/4 Good time to buy land
Thursday, March 26, 2015
MLS 566370
MLS 566370What people don't know about land financing.
Buying land is a bit different and therefor a bit more challenging than the traditional real estate transaction. Specifically when it comes to securing money to finance the transaction. Pryor to the collapse of the real estate market landers would consider loaning on land. Now it is virtually impossible. Well there is good news. There are several ways to accomplish this. Of course cash is always a good tool and often get the buyer a better pricing in the purchase. Absent of that there are several sources. 1. Commercial lenders will work with buyers, given there is a relationship. Typically they charge a premium for their services anywhere from 2-5 percentage points above traditional lending with a short duration on the time to pay out. Amount of money down usually runs 25% to 50% with an appraisal.
2. Carolina Farm Credit is still in the game. This is a private , for sake of a better term, coop. They will lend up to 20 years and can lend up to 85% loan to appraised value. There is also a requirement to join the Farm Credit for a nominal fee.
3. Seller financing is also a viable option They literally become the lender and should require the same creditworthiness and a traditional lend since they are carrying the debt for the buyer. Terms must be negotiate upfront. So there is hope we just need to keep the market aware of these tools to assist buyers and seller in acquiring land in Western NC.
In all cases contact you lender or Carolina Farm credit for details. This is only intended as a source to the source or an information piece.
Buying land is a bit different and therefor a bit more challenging than the traditional real estate transaction. Specifically when it comes to securing money to finance the transaction. Pryor to the collapse of the real estate market landers would consider loaning on land. Now it is virtually impossible. Well there is good news. There are several ways to accomplish this. Of course cash is always a good tool and often get the buyer a better pricing in the purchase. Absent of that there are several sources. 1. Commercial lenders will work with buyers, given there is a relationship. Typically they charge a premium for their services anywhere from 2-5 percentage points above traditional lending with a short duration on the time to pay out. Amount of money down usually runs 25% to 50% with an appraisal.
2. Carolina Farm Credit is still in the game. This is a private , for sake of a better term, coop. They will lend up to 20 years and can lend up to 85% loan to appraised value. There is also a requirement to join the Farm Credit for a nominal fee.
3. Seller financing is also a viable option They literally become the lender and should require the same creditworthiness and a traditional lend since they are carrying the debt for the buyer. Terms must be negotiate upfront. So there is hope we just need to keep the market aware of these tools to assist buyers and seller in acquiring land in Western NC.
In all cases contact you lender or Carolina Farm credit for details. This is only intended as a source to the source or an information piece.
Wednesday, January 21, 2015
27 acres bordering Madison and Buncombe counties MLS 522226
This cleared with driveway property has some of the better views in our area for the price.27 acres with several sits suitable to build on with a lower section for pasture or garden space. MLS 522226
Wednesday, January 14, 2015
70 Plus acre tract in Sylva NCMLS 557175
MLS 557175 Property has many uses. The easiest is as a private tract, but could be developed.
Thursday, January 8, 2015
Ideal as a Bed And Breakfast property.MLS 567587
MLS 567587 With a setting seen in Gone With the Wind, this estate is prime for restoration and placed back into service as a way stop for weary travelers to our area. 4000 Sq Ft of 2 story Georgian architecture and 12 foot high ceilings throughout are a few of the features of this 1905c family estate. 8 fireplaces make it cozy in the winter and solid stone wall make it easy to keep cool in the summer. Placed on 80 acres with 35 overlooking the bottom land currently used for crop production, this home offers views and privacy. It is tucked under a canopy of 200 year old oak trees. The entrance is remonstrant of a drive into any southern plantation of years gone by.
Subscribe to:
Posts (Atom)