r/land

Most banks won't lend on a cheap piece of raw land, so most people either drop the idea or put it on a credit card.

I carry the financing myself: $49 down plus a $100 doc fee, then $105 a month for 48 months, 0% interest, no credit check.
Or it's $2,499 if you'd rather pay cash.

It's a wooded 0.35 acre lot in Horseshoe Bend, Arkansas, with road frontage, about 9 minutes from Crown Lake.
Taxes run $53.72 a year (the full county bill) and there's no HOA, so holding it costs you about $4.50 a month.

Miss a payment and you get a 5-day grace period, then a $50 late fee, then 30 days' written notice to catch up.
After that I can end the contract and keep the lot and whatever you've paid.
You're not on the hook for anything beyond that.

Don't take my word for it.
Look up APN 800-07198-000 in the Izard County records.
The owner of record is my company, YAI LLC.

The details:

- Location: Lot 192, North Shore Addition, Horseshoe Bend Estates, Izard County, AR (36.211225, -91.730959)

- Size: 0.35 acre

- Price: $2,499 cash, or $49 down plus a $100 doc fee, then $105/month for 48 months ($95 toward the lot, $10 servicing).
That's $5,189 total financed vs $2,499 cash, no prepayment penalty.
Card payments carry a 1.9% processing fee, except the $49 down payment

- Owner: me, through my company YAI LLC.
You get a warranty deed, at closing for cash or at payoff on the plan

- Legal access: road frontage, not landlocked

- Flood zone: not in a mapped FEMA flood zone (FEMA layer, checked Oct 4; a map, not a drainage survey)

- Building: the recorded Bill of Assurance requires a single-family home of at least 1,100 sq ft.
While you're on the payment plan, a foundation, well or septic needs my written OK first

- Utilities: power and water are listed as available at the street.
Hookups and septic are on the buyer

- Guarantee: 90-day money-back on the payment plan (the doc fee isn't refunded).
Cash buyers can cancel any time before the deed is recorded

Photos, a sample contract and the tax bill: yaillc.com/l/07198-reddit

Ask me anything in the comments, I'll be around.

Just looking for some advice on a piece of land i'm looking at. It's an urban mixed use infill lot, but due to the lots pretty narrow and long dimension, it is basically prohibitive to develop for its highest uses (larger story multi-family/mixed use) due to parking restrictions. However, i'm looking at it for a single family home and have confirmed it would work for my use case with the city (though there are some outstanding questions about how much it would cost to bring water to it). I have some questions about my experiences with the sellers agent though and wondering what people think about this:

First of all, he has been very slow/unresponsive at times to questions. At first I was inquiring myself, and now I have an agent who reached out who said the exact same thing - that he noticed the sellers agent seemed reluctant to talk and he had difficult getting a hold of them. At first, they did end up giving some basic info about the property after I asked multiple times, and shortly afterwards they let me know that it had gone under contract. I said ok thank you, please let me know if anything changes. Some time later I reached back out to ask if the property had sold and he said no, the deal fell through. Ok fine, they're busy, but I would still think they would follow up with an interested party. I then asked if he could provide any information about why the deal hadn't closed, and he said that due to the recent (though its been a few years the GIS still shows the old zoning) re-zone of the property, the buyer thought that they could build lot line to lot line because that was allowed under the old zoning, and that since there were now setbacks to the sides, he pulled out.

I am located a few hours away, so I booked a trip down to take a look at the lot. I found that the lot had been surveyed, and that the monuments were showing that the neighboring property, which is a new (1-2 years old) apartment building is encroaching onto the property (their fence, not the building). The encroachment is not huge (about a foot and a half), but it cuts into the lot on the already narrow dimension making the lot even skinnier, and amounts to about 5% of the total lot square footage.

Does the agent not have to disclose this information? The lot is still on the market and they are taking offers. Obviously anyone buying is going to find this out immediately in due diligence. I told them i'm out of state, and yet they gave no indication of an encroachment issue.

I am considering that the encroachment may actually be an opportunity for my situation, because there could be a much shorter, easier path to getting water onto the property through the neighbors lot. Depending on the circumstances of the encroachment (not sure if it affects the neighbors buildings setback requirements), i'm wondering if there is a deal to be made where easement for utility access to the other street he's neighboring (they are on a corner) can be traded in exchange for changing the property line and letting them keep the extra land.

Curious to hear peoples thoughts on this situation.

Banks won't finance a $2,500 lot, so I finance it myself. 0.35 acre near Crown Lake, Horseshoe Bend AR, $49 down

Sellers agent didn't mention neighbors encroachment

Want to buy this land but....