Yurt Forum - A Yurt Community About Yurts  

Go Back   Yurt Forum - A Yurt Community About Yurts > Building a Yurt
Search Forums
Advanced Search

Lenders That Finance For Bare Land?

Reply
 
Thread Tools Display Modes
Old 03-04-2013, 08:14 PM   #1
Yurt Forum Youngin
 
Ouryurtlife's Avatar
 
Join Date: Feb 2013
Posts: 16
Default Lenders that finance for bare land?

Does anyone have any experience with lenders that will finance for bare land? We are located in oregon, and after meeting with the our lender today, they told us that they do not finance for bare land. We are feeling deflated in trying to find something to build a yurt (whether canvas or wall paneled) on.

Ouryurtlife is offline   Reply With Quote
Old 03-04-2013, 08:39 PM   #2
Manufacturer Representative
 
Tree Bones's Avatar
 
Join Date: Aug 2012
Location: High Sierras
Posts: 72
Default Re: Lenders that finance for bare land?

You can find some information here.
Tree Bones is offline   Reply With Quote
Old 03-04-2013, 10:14 PM   #3
Manufacturer Representative
 
Tree Bones's Avatar
 
Join Date: Aug 2012
Location: High Sierras
Posts: 72
Default Re: Lenders that finance for bare land?

Here is a couple more links with owner finance information:

Rockaway Beach Land

Rockaway Beach Oregon, Homesite for Sale

RockawayLot4546
Tree Bones is offline   Reply With Quote
Old 03-04-2013, 10:20 PM   #4
Manufacturer Representative
 
Tree Bones's Avatar
 
Join Date: Aug 2012
Location: High Sierras
Posts: 72
Default Re: Lenders that finance for bare land?

Here is a description of a land contract used when a seller financed property is sold under a Land Contract.

Land contract

From Wikipedia, the free encyclopedia



A 'land contract' (sometimes known as a “contract for deed,” "agreement for deed," "land installment contract" or an “installment sale agreement”) is a contract between a seller and buyer of real property in which the seller provides financing to buy the property for an agreed-upon purchase price and the buyer repays the loan in installments. Under a land contract, the seller retains the legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership. The sale price is typically paid in periodic installments, often with a balloon payment at the end to make the timelength of payments shorter than a corresponding fully amortized loan without a final balloon payment. When the full purchase price has been paid including any interest, the seller is obligated to convey legal title to the property to the buyer. An initial down payment from the buyer to the seller is usually also required by a land contract. The legal status of land contracts varies from region to region.
Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual, more conventional real estate contracts, a seller does not provide a loan to the buyer; the contract either does not specify a loan or includes provisions for a loan from a different "third party" lender, usually a financial institution in practice. When third party lenders are involved, typically a lien called a mortgage or trust deed is placed on the property so that the value of the property is used as collateral until the loan is paid in full.
Tree Bones is offline   Reply With Quote
Reply

Tags
None


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -5. The time now is 11:33 AM.


Yurt Forum | Buying a Yurt | Building a Yurt | Yurt Life | Yurts for Sale | Yurt Glamping | Yurts Pricing Yurt Calculators | Yurt Insurance | Yurt Insulation | Yurt Classifieds

Copyright 2012 - 2024 Jeff Capron Inc.

Yurt Posts Delivered to your Email!

Stay up-to-date with all the new yurt posts to your inbox!

unsusbcribe at anytime with one click

Close [X]