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Topic: Re: crash course on land buying (long post)
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| bjd
12-12-2012 06:02:23
74.231.186.200
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I bought 46 acres this time last year. did not take long at all to get loan and paperwork done. me and seller agreed on price the monday before thanksgiving and signed all papers on dec 28th. two things took the longest waiting on title search and getting appointment with lawyer for closing. 2nd thing was working around the bankers 2 week long vacation he took at thanksgiving and middle of dec. getting approved for loan took about a week of getting info to banker. financed with the land bank (agcredit) and their policy is you must have 15% of purchase price of put up collateral of 15% of purchase price.
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