Thank you so much for this very informative and educational video I am beginning my search with land and lots for a possible retirement and this is a has been very transparent presentation
Hi David! Thank you for watching our video and sharing your positive feedback! Your words mean a lot to us 🙂 We are trying to provide valuable content to help you in your land buying journey. 🙂 Sorry currently we don't operate in Wyoming. Our primary areas of focus are Florida, Colorado, Arizona, New Mexico, and bits in Nevada. Hope you find your perfect property soon! 🙂
@@CompassLandUSA I have a question - Can you proceed with fixing a home that is on land that you are Owner Financing to rent out as well while you are paying your loan off?
@@CompassLandUSA I have a question - Can you proceed with fixing a home that is on land that you are Owner Financing to rent out as well while you are paying your loan off?
Just tried to see if i could get land and even with a decent amount down it said no lenders ? So great credit big down payment and nothing. Funny thing is most people with bad credit get huge loans with nothing down. That amazes me.
Hi B, shoot! I'm sorry to hear that. It's hard to understand how banks and lenders make these decisions sometimes...:woman-shrugging: At Compass Land USA we offer 3 Owner financing plans available for you to choose from. Also, you don’t need a credit check or proof of income to qualify for owner financing, you qualify when you submit the down payment and Documentation Fee. :white_check_mark: Happy land buying :slightly_smiling_face:
Hi! I'm glad you find our videos helpful. We are trying to provide valuable content to help you in your land buying journey. 🙂 You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
Hi Vidales! Thank you for watching our video and sharing your positive feedback! 🙂 We are trying to provide valuable content for you. Glad you like it! You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅ Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Hi David! Thank you for watching our video and sharing your positive feedback! We are trying to provide valuable content for you. Glad you like it! You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅ Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Hi MD! Thank you for watching our video and sharing your positive feedback! 🙂 We are trying to provide valuable content for you. Glad you like it! You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅ Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Are you saying that if you do owner financing you cant build on the property until it is fully paid for? I guess that makes sense because you will lose the building you put on it if you default. LARRY
Are there any major risks when buying directly from the property owner? Would you recommend buying directly or using a title company? Thank you for any information.
Hi Rob! It depends on your comfort level. If you wanted to involve a title company to help you through the purchasing process, you can definitely do that. If you're buying an expensive piece of property, i definitely suggest you use a title company! 📫 a title company will perform a 'title search' for you, making sure the chain is clear and the property is clear of any debts and liens. they will also be able to give you title insurance!👍 definitely worth it for those big investments and large parcels! For small parcels you can work directly with the property owner and skip the title company. But in any case it's always important to do the Due Diligence of the property you are planning to buy.
Hi! Thanks for the video! How can you verify if the seller is legit during initial contact? Are they supposed to give you the Parcel#/MLS# so you can reach out to the county to verify ownership? Do they show you the deed? I'm totally new to this.
Going through a title company and purchasing title insurance is the best method for legitimate land purchases. I know this from experience in buying 2 parcels of land. I am not qualified to give you legal advice.
Generally there are two county offices to deal with, Assessor/Collector (could be different offices) and Recorder of Deeds. No property owner in the U.S. has a title to show you (they may have an "Abstract" book that long ago recorded owners and passed that book to a new owner, but today everything is by "Deed" (several types look those up and learn the types and how they are used when you have nothing to do). The deed will be recorded in a book at a page, both indicated by numbers, look that up at the Recorder's Office. I'm not saying this company is not legit, what I can tell you is most who offer seller financing are running a real estate scam, always us an attorney, always! I just replied on another comment, read that as well.
Will you get partners /your company's stuffs of your company?I honestly asking you can I buy land of USA as foreigners?please,tell me your next videos.
I have a question when I financed by owner the land I know that I cannot build on it until it's paid off but can I make a driveway can I clear some of the land for recreation?
**"Absolutely do not forget in your purchasing process. Timber rights and mineral rights to your Land purchase! Otherwise you may end up down the road being dreadfully disappointed.
Hi Brian! We primarily operate in FL, CO, AZ, and NM. If these aren't the areas you're interested in buying land, we may not be the best folks to help you with your land search. Good luck with your search! 🙂
Hi Rahman! Tt depends on the company. At Compass Land USA, we don't have any prepayment penalties. I can't speak to how other companies operate though.
Hi Karen! It depends on the company. Some companies will charge you a low interest rate, but ask for a really high down payment. Others will do the opposite. Your best bet is to negotiate with the company directly and see what kind of down payment they want.
@@CompassLandUSA I’m not going through a company I am the one that will be holding the mortgage. That is why I was asking what interest rate to charge.
I'm selling our 10acre property, owner financed, to my coworker's son-in-law. Could we hire your company to do the paperwork? If so, how much do you charge?
@@CompassLandUSA Okay, thanks for the reply. I thought your presentation was excellent by the way and at least I have a better understanding because of your video :)
What assurance do I have that a seller won't get my payment, say two years later, throw it in the trash and 30 days later call my loan due for default, demand the full payment and if I can't pay the total amount, foreclose and take the property back and then say "NEXT SUCKER"?
@@HellavaLive Read the default agreement in your contract, read the Deed of Trust, you don't have title you have a deed subject to the mortgage and deed of trust. A little thing called F.D.I.C. and Department of the Treasury is another matter, owner financing is not regulated, no checks or balances, no audits, no regulatory oversight of the seller. The other reality is that sellers pull that over half the time, over 70% of seller financed deals in single family homes fail. If you keep up with transactions through American Title Insurance Ass. and legal publications you'd be aware of the matter. It's also why Seller financing fell under Dodd-Frank financing regulations requiring a licensed mortgage originator and servicer to be involved. If you knew anything about mortgage servicing you'd understand how uninformed that statement was, consider say, just 8000 checks being received for payments, going through a proof machine, validated and assigned to an account, the people in that room have no idea who you are, what property is involved, or anything about the property. Servicers get paid to perform a function of accounting, they don't know anything about you. Totally different with a seller holding a note, they know you, have a good idea if you have the ability to hire a lawyer, they know the property and its value, what you will lose and what they will gain. Have a great day and find a good finance attorney, not a real estate attorney but one versed in FINANCE!
Hi Rick! It depends on your comfort level. If you wanted to involve a lawyer or a title company to help you through the purchasing process, you can definitely do that. Or, you can work directly with the property owner and skip the lawyer and title company. Up to you! :slightly_smiling_face:
They cannot report because they are not licensed as a mortgage servicer to join a credit reporting agency. Reporting is VERY important because when it is time for you to refinance with a new mortgage (if required by seller) your payments must be proven for the new lender. This then requires you to show the last 12 months of payments from your bank statements or cleared checks. Problem is, if the seller deposits a check late, you get a late payment and late payments will get you denied on a new mortgage. You then miss the payoff with the seller and most default losing the property. Like I said, ....Next buyer!
Can the seller change their mind at any point in time within the contract say the buyer is 90% done paying off the the loan??? Or if there are liens on the land from the seller that the new buyer didn't know about? Where does this information come from and how do I protect myself from either one of those things happening?
Hi. You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅ Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Hi Dogecoin! To be honest with you, i'm not sure. Speaking about how my company, Compass Land USA, operates - we don't contact the credit bureau or do a credit check before owner financing. By skipping that step, it allows people to purchase land regardless of their credit state or history. Sorry i couldn't give a better answer! 🤷♀️
You can get your own _FREE_ copy of the *Owner Financed Land Buying Guide* ✅ here 👉 www.compasslandusa.com/go/owner-finance-guide/
Thank you so much for this very informative and educational video I am beginning my search with land and lots for a possible retirement and this is a has been very transparent presentation
Thank you for being professional, courteous, and informative I'm looking to this in Wyoming
Hi David! Thank you for watching our video and sharing your positive feedback! Your words mean a lot to us 🙂 We are trying to provide valuable content to help you in your land buying journey. 🙂 Sorry currently we don't operate in Wyoming. Our primary areas of focus are Florida, Colorado, Arizona, New Mexico, and bits in Nevada. Hope you find your perfect property soon! 🙂
Thank you so much for making this video!
Hi! thank you! we're trying to provide valuable content for you. glad you like it! 🙂
@@CompassLandUSA I have a question - Can you proceed with fixing a home that is on land that you are Owner Financing to rent out as well while you are paying your loan off?
@@CompassLandUSA I have a question - Can you proceed with fixing a home that is on land that you are Owner Financing to rent out as well while you are paying your loan off?
Just tried to see if i could get land and even with a decent amount down it said no lenders ? So great credit big down payment and nothing. Funny thing is most people with bad credit get huge loans with nothing down. That amazes me.
Hi B, shoot! I'm sorry to hear that. It's hard to understand how banks and lenders make these decisions sometimes...:woman-shrugging:
At Compass Land USA we offer 3 Owner financing plans available for you to choose from. Also, you don’t need a credit check or proof of income to qualify for owner financing, you qualify when you submit the down payment and Documentation Fee. :white_check_mark: Happy land buying :slightly_smiling_face:
It was helpful but suppose someone's looking for just a quarter ankle and but up north not everything is in Florida or down south
Great information 👍
Hi! I'm glad you find our videos helpful. We are trying to provide valuable content to help you in your land buying journey. 🙂
You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
@@CompassLandUSA Thank you,… my name is David, I’ll reach out here shortly!
Thank you, very good advices, well made video
Hi Vidales! Thank you for watching our video and sharing your positive feedback! 🙂 We are trying to provide valuable content for you. Glad you like it!
You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Thank you very informative
Great job.
Hi Thomas! Thank you for watching our video and sharing your positive feedback! 🙂
Thank you so much!
Hi David! Thank you for watching our video and sharing your positive feedback! We are trying to provide valuable content for you. Glad you like it!
You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Thanks for you
Hi MD! Thank you for watching our video and sharing your positive feedback! 🙂 We are trying to provide valuable content for you. Glad you like it!
You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
Are you saying that if you do owner financing you cant build on the property until it is fully paid for? I guess that makes sense because you will lose the building you put on it if you default. LARRY
Are there any major risks when buying directly from the property owner? Would you recommend buying directly or using a title company? Thank you for any information.
Hi Rob! It depends on your comfort level. If you wanted to involve a title company to help you through the purchasing process, you can definitely do that. If you're buying an expensive piece of property, i definitely suggest you use a title company! 📫 a title company will perform a 'title search' for you, making sure the chain is clear and the property is clear of any debts and liens. they will also be able to give you title insurance!👍 definitely worth it for those big investments and large parcels! For small parcels you can work directly with the property owner and skip the title company. But in any case it's always important to do the Due Diligence of the property you are planning to buy.
Read reply to RickD125! There are risks you would not even dream of but they can all be managed professionally by an attorney who understands finance.
She forgot to say that camping is up to the county
Hi! Thanks for the video! How can you verify if the seller is legit during initial contact? Are they supposed to give you the Parcel#/MLS# so you can reach out to the county to verify ownership? Do they show you the deed? I'm totally new to this.
Going through a title company and purchasing title insurance is the best method for legitimate land purchases. I know this from experience in buying 2 parcels of land. I am not qualified to give you legal advice.
Generally there are two county offices to deal with, Assessor/Collector (could be different offices) and Recorder of Deeds. No property owner in the U.S. has a title to show you (they may have an "Abstract" book that long ago recorded owners and passed that book to a new owner, but today everything is by "Deed" (several types look those up and learn the types and how they are used when you have nothing to do). The deed will be recorded in a book at a page, both indicated by numbers, look that up at the Recorder's Office.
I'm not saying this company is not legit, what I can tell you is most who offer seller financing are running a real estate scam, always us an attorney, always! I just replied on another comment, read that as well.
Yes, use the land glide app
I'm buying a time-share in Coral Shores, North Reddington. What is it procedure for transferring title?
Will you get partners /your company's stuffs of your company?I honestly asking you can I buy land of USA as foreigners?please,tell me your next videos.
Yes, as far as we know there's no reason why people from abroad can't buy land in the US. ✅
I have a question when I financed by owner the land I know that I cannot build on it until it's paid off but can I make a driveway can I clear some of the land for recreation?
Hi Nelson, feel free to call or text us at (313) 349-0434 and we will be more than happy to help. :)
What credentials do u need?? Like work history
**"Absolutely do not forget in your purchasing process.
Timber rights and mineral rights to your Land purchase!
Otherwise you may end up down the road being dreadfully disappointed.
Do you work with people in certain states particularly?
Do you ever have land in Missouri Arkansas or Tennessee??
Hi Brian! We primarily operate in FL, CO, AZ, and NM. If these aren't the areas you're interested in buying land, we may not be the best folks to help you with your land search. Good luck with your search! 🙂
Florida would be the only one out of those but I am looking for 20 plus acres
Is there a prepayment penalty with these type of deals
Hi Rahman! Tt depends on the company. At Compass Land USA, we don't have any prepayment penalties. I can't speak to how other companies operate though.
What is a good interest rate to charge for land that I would owner finance? 32.9 acres.
Hi Karen! It depends on the company. Some companies will charge you a low interest rate, but ask for a really high down payment. Others will do the opposite.
Your best bet is to negotiate with the company directly and see what kind of down payment they want.
@@CompassLandUSA I’m not going through a company I am the one that will be holding the mortgage. That is why I was asking what interest rate to charge.
I'm selling our 10acre property, owner financed, to my coworker's son-in-law. Could we hire your company to do the paperwork? If so, how much do you charge?
Hi Dan! We are investors, not real estate agents. So unfortunately, we cannot act as a brokerage for you. Sorry about that!
@@CompassLandUSA Okay, thanks for the reply. I thought your presentation was excellent by the way and at least I have a better understanding because of your video :)
What assurance do I have that a seller won't get my payment, say two years later, throw it in the trash and 30 days later call my loan due for default, demand the full payment and if I can't pay the total amount, foreclose and take the property back and then say "NEXT SUCKER"?
That's why you have a TITLE AND A CONTRACT...WHO'S TO SAY A BANK WONT DO THE SAME THING...
@@HellavaLive Read the default agreement in your contract, read the Deed of Trust, you don't have title you have a deed subject to the mortgage and deed of trust. A little thing called F.D.I.C. and Department of the Treasury is another matter, owner financing is not regulated, no checks or balances, no audits, no regulatory oversight of the seller. The other reality is that sellers pull that over half the time, over 70% of seller financed deals in single family homes fail. If you keep up with transactions through American Title Insurance Ass. and legal publications you'd be aware of the matter. It's also why Seller financing fell under Dodd-Frank financing regulations requiring a licensed mortgage originator and servicer to be involved.
If you knew anything about mortgage servicing you'd understand how uninformed that statement was, consider say, just 8000 checks being received for payments, going through a proof machine, validated and assigned to an account, the people in that room have no idea who you are, what property is involved, or anything about the property. Servicers get paid to perform a function of accounting, they don't know anything about you.
Totally different with a seller holding a note, they know you, have a good idea if you have the ability to hire a lawyer, they know the property and its value, what you will lose and what they will gain.
Have a great day and find a good finance attorney, not a real estate attorney but one versed in FINANCE!
Can SA CITIZEN buy
Hey can you find me some land
Does any of these steps require an attorney?
Hi Rick! It depends on your comfort level. If you wanted to involve a lawyer or a title company to help you through the purchasing process, you can definitely do that. Or, you can work directly with the property owner and skip the lawyer and title company.
Up to you! :slightly_smiling_face:
ALWAYS USE AN ATTORNEY OR REAL ESTATE BROKER AS A BUYER'S AGENT when dealing with anyone selling and financing real property, always!
Do you report the payments to the credit bureaus so that our credit score would be increased
No, we don't do credit checks on land we sell and our process leaves no impact on your credit score. ✅
They cannot report because they are not licensed as a mortgage servicer to join a credit reporting agency. Reporting is VERY important because when it is time for you to refinance with a new mortgage (if required by seller) your payments must be proven for the new lender. This then requires you to show the last 12 months of payments from your bank statements or cleared checks. Problem is, if the seller deposits a check late, you get a late payment and late payments will get you denied on a new mortgage. You then miss the payoff with the seller and most default losing the property. Like I said, ....Next buyer!
Can the seller change their mind at any point in time within the contract say the buyer is 90% done paying off the the loan??? Or if there are liens on the land from the seller that the new buyer didn't know about? Where does this information come from and how do I protect myself from either one of those things happening?
Wish there was an actual website vs. Facebook only. You have lost my business
Hi. You can see all of our available properties at: www.compasslandusa.com/property/ and also visit www.compasslandusa.com/ and join our VIP group to be the first to know of our new properties! ✅✅
Thanks again for watching. 😊Please help us make land ownership a reality for more people by sharing our website www.compasslandusa.com/ with anyone you know. Thank you for your help! 🙏
How do i get this loan reported to credit bureaus once i pay it off?
Hi Dogecoin! To be honest with you, i'm not sure. Speaking about how my company, Compass Land USA, operates - we don't contact the credit bureau or do a credit check before owner financing.
By skipping that step, it allows people to purchase land regardless of their credit state or history.
Sorry i couldn't give a better answer! 🤷♀️