Selling Land with Owner-Finance
Is owner-finance a good strategy for selling land in Colorado? Our grandparents bought ranches in southern Colorado & subdivided them into 35+ acre lots & then sold to buyers offering financing terms at 10% down, 10% interest for 10-yeaars.. They even retained a grazing lease for their cattle. There are other ways to structure owner-finance of land. We would love to hear any success stories!
#1 All Forums Contributor
- Investor
- Virginia
@Jena Vail
That is how we prefer to sell owner financed is the 10/10/10 rule(10% down 10% interest for 10 years)
We have modified this in instances for larger or smaller down payments or changed amortization but had a ballon
#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
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#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
Quote from @Jena Vail:
Is owner-finance a good strategy for selling land in Colorado? Our grandparents bought ranches in southern Colorado & subdivided them into 35+ acre lots & then sold to buyers offering financing terms at 10% down, 10% interest for 10-yeaars.. They even retained a grazing lease for their cattle. There are other ways to structure owner-finance of land. We would love to hear any success stories!
I remember those 35 acre ranchettes was very popular in the day.. not sure why 35 acres and not 40s as you could break down a section ( 640 acres) in even numbers 320 s 160s 80 s 40s 20s etc.
35 always struck me as odd and you would see them advertised in hunting and fishing mags.. Colorado and Montana the ones in Montana in the right locations those buyers hit a Yahtzee given were Montana rural land values have gone.
