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We believe that land ownership should be tangible to anyone that wants to buy dirt! There is truly no other way to describe the feeling of standing on your own piece of dirt, other than to experience it for yourself. As a company we want to help as many people as we can to experience that feeling! While paying cash for land would be the ideal situation, we recognize that isn’t possible for everyone. With that in mind, we put our heads together with leaders in the industry to come up with a solution that would be a win-win for everyone, and we landed on owner financing.Â
Owner financing is an arrangement where the seller (Debrosland) acts as the lender, providing financing to the buyer (You) for the purchase of land. This method bypasses the traditional mortgage process, granting greater flexibility in terms of any financing arrangement a bank might offer. Please note, Debrosland will review your financial situation prior to approving a deal to ensure that you will be able to repay the land loan you undertake. With that in mind, know that our goal is to do a deal with you and to see you own the land free and clear.
While owner financing can present unique opportunities and benefits, it also carries inherent risks and considerations that necessitate careful evaluation. Below we have attached some resources for you, a breakdown of our owner finance underwriting process and reasons to consider owner financing. Please read this carefully and reach out to us with questions, we are here to help in your land investing journey!
As you narrow down your selection of potential land deals, it's crucial to know your options to finance the property of your dreams. We always encourage our customers to explore all options on the table. When it comes to land, banks are not as receptive to the idea of financing land, but it is always something you can explore with your bank or credit union prior to choosing to finance through Debrosland. In the flyers below you will get some insight into how our financing works and some resources to other financing resources available to you. Take advantage of these resources so you can become a landowner!
As you embark on your journey towards become a landowner, defining your budget is where everything will start. Whether you're seeking a small parcel for a weekend retreat or vast acreage for a dream homestead, our team works closely with you to understand your financial parameters. We believe in making land ownership accessible, ensuring that your budget aligns with your aspirations. Keep in mind the following when considering your budget:Â down payment, closing costs, ongoing monthly payments and maintenance of the property.
Once your budget is set and property is selected, submitting your finances to Debrosland is a straightforward process. Our streamlined approach ensures efficiency and transparency. Debrosland is here to guide you through the submission process, offering personalized assistance every step of the way. The application and required documents are here in the Debrosland Owner Financing Flyer (or see above). We want to work with you, so assuming that your ability to repay the land loan is passed by our team we will move onto step #3.
Once approved for our land owner financing, we will be creating and sending a contract for your signature. Navigating the paperwork involved in land ownership can be daunting, but with Debrosland, it's hassle-free. We work with experienced professionals that will take the executed contract and make all the necessary documents required for the owner financing arrangement, giving you peace of mind that everything will done correctly. All of this will be created and sent for review prior to moving to closing.
As you approach the final stages of acquiring your land, Debrosland is here to help facilitate a smooth closing process. Our team coordinates all parties involved, ensuring a seamless transition to ownership. During this stage you will meet with a notary public to sign the closing documents which were sent for review in step #3. AÂ special note, you can sign in person at the title company or via a mail away, which is what our company does for all paperwork.
Before payments can begin we will be getting in touch with a 3rd party note servicing company who will facilitate your monthly payments. Once setup, you will make your payments to that company for the duration of the loan. They will be your point of contact for any issues with payments, late fees or anything else related to the loan. If you are having personal issues with making your payment, please get in touch with Debrosland. Our goal is for you to pay off the land loan, so anything we can do while you are making payments, please let us know.
Congratulations! Now that you have paid off your land loan, you're now the proud owner of free and clear land. Before you celebrate we will have one last piece of paperwork to file with the county to erase the mortgage. Once that is completed, rejoice and celebrate your accomplishment as you've partnered with a trusted ally in your journey towards land ownership. Welcome to being a land owner, free and clear!
#1. Accessible Financing: Traditional lenders often have stringent requirements for land loans, making it difficult for buyers to secure financing. Owner financing provides an alternative path to land ownership, especially for those who may not meet traditional lending criteria.
#2. Flexible Terms: With owner financing, you have the opportunity to negotiate terms directly with the seller. This flexibility allows you to tailor the down payment, interest rate, and repayment schedule to better suit your financial situation and goals.
#3. Expanded Opportunity: Often times land ownership can be cut off to only those with cash. However, when owner financing is offered it opens up the possibility of land ownership to a wider range of buyers like you. This can be a game-changer, expanding options in making land ownership a reality.
#4. Potential for Better Financing: Often banks are set in stone on rules required to offer any financing. With the flexibility of owner financing, both parties can work together to find terms that suit their needs, potentially resulting in a mutually beneficial agreement. This can be in the form of the down payment, interest rate, length of loan and other details.
#5. Streamlined Process: Compared to traditional bank financing, owner financing transactions often have a quicker and more straightforward closing process. With less paperwork and fewer intermediaries involved, which allows you to become a landowner quicker.
#6. Stability and Security: Through spreading out payments over time, owner financing provides a sense of stability and security. You can make manageable monthly payments while enjoying the benefits of land ownership, without the pressure of a substantial upfront cash outlay like you would in a cash transaction.
#7. Opportunity for Investment: Owner financing can be an attractive option for buyers looking to invest in land. By leveraging seller financing, you can acquire property and potentially realize appreciation over time, all while maintaining control over the terms of the financing.
#8. Tax Advantages: Depending on your individual circumstances, there may be tax advantages associated with owner financing, such as potential deductions for mortgage interest payments. Consulting with a tax advisor can help you understand and maximize those benefits.
#9. Personalized Agreements: Owner financing allows for personalized agreements tailored to your specific needs and financial situation. This flexibility ensures that the terms of the financing align with your goals and preferences, making for a more satisfying and successful transaction.
#10. Empowerment and Control: Ultimately, owner financing empowers you as a buyer to take control of your path to land ownership. By working directly with the seller to craft a financing arrangement that works for both parties, you can achieve your dreams of land ownership on your terms.
Debrosland is dedicated to helping with your journey towards land ownership. With a commitment to excellence, we offer a diverse range of premium land parcels across the country, ensuring there's something for everyone. We tailor our owner financing options to fit your unique needs, making the process seamless, stress-free, and accessible. Let us be your partners in realizing your dreams of owning land. Reach out today to explore the possibilities and discover how our experienced team at Debrosland can guide you every step of the way.
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