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littlehouseontheprarie
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# Posted: 9 Nov 2015 08:47pm
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Saturday I was going for a little drive to relax in the middle of no where.I stumbled upon a sign that says land for sale.
So I called on it.
The guy was more than happy to meet me and my wife out there within the hour.
He had 5 acre and 10 acre parcels and they were beautiful.
I thought this was undeveloped land but it turns out that
He installs the septic,Electric pole and water meter.And also puts in the culvert and a gravel driveway.
So I am figuring big bucks for this land.
He quotes me $22,000 for 5 acres and he finances with $2500 down and payments of $123 per month for 20 years.
Only 4.5% interest rate.
It sounded too good to be true.But I decided to check with the neighbors around there.It was legit.
One guy had bought his 2 years earlier and paid it off already.Said the guy was legit and super nice to deal with.
Another was a little older couple in their 60"s who had a derksen cabin they put on their land.They couldn't say enough nice things about the guy.
So first thing this morning I ran to the bank and got a certified check for $2,500.
He had the paper work drawn up today and at 5:15 this afternoon we were at the bank getting it all notarized.
I am now the proud owner of 5 acres and he has 30 days to get the water meter,Electric pole and septic in.
He already has the culvert in and says he will have the gravel driveway done by Thursday.
I think I will be putting in a new cabin on this one at tax refund time.
I finally got lucky on a deal.
By the way the land is just outside of Dekalb Tx about 12 miles from town in the middle of the woods.Perfect for a cabin and a quiet life.
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Steve_S
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# Posted: 9 Nov 2015 09:20pm
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Congratulations on a Good Find and Good Deal ! 4.5% is not bad and should be fairly easy to pay off.
Post some Pics when you get a chance, I'm sure I'm not the only curious "Looky Lou".
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ColdFlame
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# Posted: 9 Nov 2015 09:46pm
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Sounds like an incredible find! I, like Steve, am looking forward to seeing some photos and hearing about your progress as you move through your new adventure! 
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littlehouseontheprarie
Member
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# Posted: 9 Nov 2015 11:33pm
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Going back there this weekend to clear a spot for the cabin.
Making a spot for a 20x24 cabin.
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upndown
Member
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# Posted: 10 Nov 2015 12:28am
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Like they say, good things happen to good people! Hope things continue to go smoothly for you. Like said above, it didn't happen without pics! Haha..Congrats.
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AK Seabee
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# Posted: 10 Nov 2015 01:00am
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Congrats!
Now the fun begins!
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Julie2Oregon
Member
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# Posted: 10 Nov 2015 01:44am
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Congratulations! That sounds very exciting! How lucky it was that you stumbled upon the land! Were you looking to build in that area?
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OutdoorFanatic
Member
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# Posted: 10 Nov 2015 06:19am - Edited by: OutdoorFanatic
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Congrats OP! Its a good feeling aint it? I got a big rock on my property and everytime I walk by it I look at it and say to myself, "Your mine."
I bought my land owner finance and it worked out great. But I know someone who got royally screwed once by a owner finance deal.
My only advice, make sure you hire a lawyer $750 to go through and file the closing papers.
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LoonWhisperer
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# Posted: 10 Nov 2015 11:43am
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Sounds awesome! Congrats. And of course we will need to see pictures as others have mentioned.
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Steve_S
Member
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# Posted: 10 Nov 2015 06:26pm
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One thing I noticed afterwards that's a tad confusing... This land is "off the beaten path" so a Water Meter ? Where's the water coming from ??
With droughts and all, I'd be chatting the neighbours up about any water issues.
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littlehouseontheprarie
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# Posted: 10 Nov 2015 08:41pm
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Steve S.
There are water meters in this area.The neighbors have one and it is serviced by Bowie central water district.
Went down today to see about a deposit on the service.
No deposit.
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