No credit check and owner financing with a Land Contract

No credit check and owner financing with a Land Contract
Video Transcription

Luke Harris: Hey, guys. This is Luke Harris with the Farm Finders. We’re out here at our property in Floyd, Virginia.

I’m, in the video, we are going to talk about the land contract, which is the document that we use to own or finance our properties.

We’re going to give you the good, bad and the ugly of the land contract. No credit checks, we’ll finance for anybody at all, it doesn’t matter what your credit score is, and very low down payments. And you might say, well, why would we be willing to do that? Nobody else … banks usually don’t even finance land at all for you. And if they do, then they want at least like 20 to 50% down sometimes. Which, to the normal working person is virtually impossible, a lot of the time.

And we’re gonna tell you exactly why we’re willing to do that. The reason, basically, is that the deed stays in our name for the entire term of the time that you’re paying off the property. And if you stop making payments at any time, we’re legally required to send you a series of notifications. We do it in every way possible. We text you, we email you and we also send certified mail to the address that you provided. And we give you 70 days.

If we haven’t heard from you in those 70 days, then we simply take back the property and we relist it for sale.

It’s important to note that we obviously are not lawyers and we are just explaining how we do owner financing. If you have questions about it, we definitely recommend talking to a lawyer or a legal professional.

And you might say, well, “Luke, why can we trust you if the deed is still in your name?” Well, we’re running a business and with the way the internet is these days, as a business owner, it’s very important to make sure that your customers are happy. You guys have a lot of power to either make or break our business by reviews online. We love feedback, you can comment on this YouTube video. You can give Google reviews and if you have a negative experience with us, the world is gonna know it. So we’re highly motivated to make sure that you guys are as pleased as possible with the product that we provide. And when you get to the end of your land contract term, which is typically 72 months, and you make all your payments, then we literally record the deed into your name and the property’s completely yours and we have no interest in the property at that point.

If you enjoyed this video and you found the content valuable, please like the video and subscribe to our channel. Also, go to our website at and check out properties that we have available. Maybe there’ll be something that fits your needs and what you want in your dream property.

Also, please comment on the video and tell us what other topics you would like to hear about. Are there big questions that have kind of been hovering over you, keeping you from buying a property that you want cleared up? We’ve been doing this for a couple of years now and have bought and sold close to a hundred properties and we’d love to share what we’ve learned with you guys. We definitely don’t know everything but if you have a question, we’d love to dig in, make a video about it and dig in and share what we’ve learned about buying and selling land.

So definitely leave a comment below. Tell us what topics you would like to learn more about.

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