People love to talk. They love to give you their input on anything and everything as soon as you utter a word about any subject that they may be the slightest bit familiar with. One big thing that people love to talk about is buying a home or buying land.
Because everyone has an opinion, misconceptions are often formed and, tragically, can become commonly accepted. Many of these misconceptions can become myths as time goes on, allowing false beliefs to prevail.
We want to address five of the most common myths regarding land ownership and buying land. Let’s set the record straight.
1. Only Wealthy People Can Afford Land
Many people believe that land is a luxury only those with loads of money can afford. While it may be true that the average Joe can’t afford a mansion in Hollywood, it is not impossible for anyone to purchase land. Real estate is forever growing and changing. In order for the business to survive, there must be customers. This means that realtors and real estate companies are always looking for new ways to make land ownership possible for more people.
Here at Five Star Acres, it is our goal to make land ownership attainable for everyone, even the average Joes. One way we address this concern is by guaranteeing financing to every customer. All of our properties are backed with 100% GUARANTEED owner financing. That means that you don’t have to have excellent credit, you don’t need to take out a loan, and you most certainly don’t have to be wealthy to purchase land.
2. Buying Land is a Headache
Another common misconception many believe is that buying land is a complicated process; it takes weeks, sometimes months, and even then, the seller can back out or the bank can refuse to loan you money. Again, this is FALSE.
Buying property doesn’t have to be complicated. Five Star Ares’ buying process is short and sweet. First, find the property you want. You can do this by looking at our website, our social media postings, and postings that we have on other sites like Craigslist and eBay. Once you find a property you like, go and check it out; let us know if you like it and we’ll start working on the agreement. Once we complete the agreement, we will send it out to you, via email. You will be able to review and sign the document through the email. When we have received the signed agreement, we will sign it and send you an invoice for the $299.00 processing fee. Pay that, we will get your monthly payments set up, and the land is yours!
No need to be a real estate tycoon to purchase land.
3. You Can’t Buy Land Without Getting a Mortgage
Most people don’t want to commit to a 30-year mortgage. That’s an incredibly long time to be locked in to a payment. Not to mention, the recommended down payment on a land or home purchase is 20% of the purchase price! That’s a huge chunk of money that very few would happen to have lying around. While it does seem to be one of the more popular methods to pay for a home or land purchase, a mortgage is not the only way to purchase land.
Five Star Acres is one of the few pioneering companies in the real estate world that offers 100% owner financing for all of our properties. We don’t require any down payment, though you are welcome to make one if you wish, we don’t do a credit or background check – no hit to your credit score – and we offer low monthly payments. We offer a 10% discount to veterans and military service members, as well as 10% discounts for cash purchases and multi-tract discounts.
You don’t have to get a mortgage to buy land, and it doesn’t have to break the bank.
4. If You Buy Land, You Have to Build
“If a man owns land, the land owns him.” – Ralph Waldo Emerson
Many properties have lists of restrictions a mile long. These restrictions outline all the rules for the property you just bought and the neighborhood in which you live. They often include a timeline for building, what type of home you can and can’t have on the property, the minimum size of the home you can have, the number and types of animals you may have, and so on. Sounds crazy, right? You own this property and now have to follow someone else’s rules? We think so too.
Our properties don’t have the exorbitant amount of restrictions that other properties do. You don’t have to build a home within a certain number of days in order to purchase our properties – you don’t have to build a home at all if you don’t want to. Our properties with restrictions allow mobile homes, farm animals, and farming practices. There are still a few restrictions on the property we sell, but they are reasonable and allow for more freedom to develop your land as you see fit.
5. You Have to Work With a Realtor to Buy Land
At Five Star Acres, LLC, we don’t employ realtors. While they are helpful in many situations, realtors are not necessary for the successful purchase of land. Their main purpose is to attract customers to certain homes and properties, show the property to the potential buyers, and then close the sale. Since our sales are land only – no homes involved – we don’t require realtors. You are welcome to view any of our properties at your leisure. No need to schedule an appointment or try to make busy schedules match up so that you can be shown a property with someone pushing you to buy and only pointing out the best aspects.
Our lack of realtors has its perks. For one, this keeps the price of our properties low. We are not required to pay commission to a realtor for selling our properties. Those savings are passed on to you by way of lower priced property. It also allows more freedom for potential buyers and less buying pressure. Without a realtor watching your every move, you’re not going to feel the same pressure to buy as you may with other companies. This makes our buying process easier and more affordable for everyone involved.
So, can you buy land without the help of a realtor? Absolutely. And we are here to help you do just that.
Now that you’re well informed, you can feel confident as you move forward with your quest to purchase the land of your dreams. View our properties and give us a call if you see something you like. We can’t wait to make your dreams of land ownership come true!