Home Buying in Billings>Question Details

Kent Evans, Home Buyer in Billings, MT

What finantial agencies finance just the land/property with no improvements, without having to put 30% down ect???

Asked by Kent Evans, Billings, MT Fri Jun 15, 2012

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I agree with Ron.

Depending on what your goals are, you may look into seller financing, finding a money partner, or, if you plan to build, I know of builders who will buy the lot, build the home and then sell you the completed home. Though, this usually requires a non-refundable earnest money deposit that the builder would keep if you were to back out of the deal. But, remember, it is all dependant upon what you negotiate.
0 votes Thank Flag Link Thu Jun 21, 2012
None of them. Bare land with no improvements has a much longer marketing time than a single family residence. If the lender gets the property back they know they will have to discount it pretty steep to sell it fast. They are in the money business and not the real estate business.
0 votes Thank Flag Link Fri Jun 15, 2012
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