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truck
by jhix3734. 04/19/24 10:50 AM
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Re: Land Financing
[Re: Chad T]
#3186173
08/07/20 07:03 PM
08/07/20 07:03 PM
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Joined: Apr 2013
Posts: 4,617
Alabama
Rmart30
10 point
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10 point
Joined: Apr 2013
Posts: 4,617
Alabama
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Ala farm credit did my bare land loan. Standard 20% down if credit is good.
Ethical behavior is doing the right thing when no one else is watching - even when doing the wrong thing is legal. Aldo Leopold .. (except when it comes to trailer tags)
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Re: Land Financing
[Re: AU7MM08]
#3186319
08/07/20 10:31 PM
08/07/20 10:31 PM
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Joined: Jun 2010
Posts: 8,913
Tallassee
G/H
14 point
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14 point
Joined: Jun 2010
Posts: 8,913
Tallassee
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I included my land in with my house mortgage How were you able to do this? Refinance or something? Nope, just when I did the finance the first time. They included the land, guess cause I had a good down payment. I really not positive since it was about 20 yrs ago
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Re: Land Financing
[Re: AU7MM08]
#3186347
08/08/20 01:14 AM
08/08/20 01:14 AM
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Joined: Jan 2009
Posts: 3,305
Autuaga County
nomercy
10 point
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10 point
Joined: Jan 2009
Posts: 3,305
Autuaga County
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I included my land in with my house mortgage How were you able to do this? Refinance or something? you can do it. I had the option, but was it was gonna be more expensive. My friend at AL AG advised against it and he is who financed the land. Anyway,,,,,,, AL AG all the way. You get a nice dividend check every year too!!
Don't blame me for your bad decision-
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Re: Land Financing
[Re: Chad T]
#3186368
08/08/20 06:23 AM
08/08/20 06:23 AM
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Joined: Dec 2009
Posts: 9,004
Colbert County
Teacher One
14 point
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14 point
Joined: Dec 2009
Posts: 9,004
Colbert County
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My wife is a realtor here in Colbert County and finding anything on the East end of the County is impossible, especially acreage you are looking for. West end may be your best chance to find something if you want out that far. I was offered ten thousand an acre last year for a little over 25 acres in Ford City and turned it down. Builder wanted to start a subdivision with a country setting for city folks wanting out in the country. With pricing as high as it is, I dont see how folks can finance and come out ahead. Throw in a huge down payment to the bank and it gets almost impossible for the average person to acquire land these days.
I can't stand a thief.
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Re: Land Financing
[Re: Chad T]
#3186398
08/08/20 07:48 AM
08/08/20 07:48 AM
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Joined: Feb 2002
Posts: 44,211
North Alabama
Wiley Coyote
Freak of Nature
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Freak of Nature
Joined: Feb 2002
Posts: 44,211
North Alabama
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Jump across to southern TN and the price per acre drops like a rock. In 1999 we could have bought our 433 acre lease for $450 per acre. We thought that was a LOT of money.
I firmly believe that a double gallows should be constructed on the East Lawn of The White House. Politicians who willfully and shamelessly violate their oath to uphold and defend the Constitution of the United States of America should be swiftly tried and, upon conviction, publicly hanged at sunup the day after conviction. If multiple convicts are to be hanged they can choose with whom to share the gallows or names shall be drawn from the hangman's hat to be hanged 2 at a time.
NRA Life Member
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Re: Land Financing
[Re: Wiley Coyote]
#3186400
08/08/20 07:54 AM
08/08/20 07:54 AM
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Joined: Mar 2016
Posts: 2,021
AL
therealhojo
8 point
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8 point
Joined: Mar 2016
Posts: 2,021
AL
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Jump across to southern TN and the price per acre drops like a rock. In 1999 we could have bought our 433 acre lease for $450 per acre. We thought that was a LOT of money. I was back then. You could buy property in Shelby Co Al for under $1000 back then.
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Re: Land Financing
[Re: jwalker77]
#3186563
08/08/20 02:09 PM
08/08/20 02:09 PM
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Joined: Apr 2017
Posts: 15,319
Ourtown, AL
BCLC
Old Mossy Horns
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Old Mossy Horns
Joined: Apr 2017
Posts: 15,319
Ourtown, AL
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Is there a closing cost on buying farm land. I know the down payment includes attorney fees, survey, etc. You pay that at the time of down payment. It is supposed to take about a month to close. Will there be a closing cost and what exactly is that for? Down payment is a down payment, reduces the amount you are financing for the property and most importantly to the bank shows that you have skin in the game. Closing costs include everything you listed: attorney fees, surveys, etc... PLUS appraisals, taxes, liens, perc tests etc...any expenses that are accrued during the process of purchasing the land.
We’re not dead. We just smell that way. Dayum. - AC870
Yessir! I’m always gonna shoot what makes me happy and I want everyone else to do the same! If you shoot one be proud of it and don’t worry what anyone else thinks. - SJ22
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Re: Land Financing
[Re: BCLC]
#3186724
08/08/20 07:07 PM
08/08/20 07:07 PM
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Joined: Dec 2015
Posts: 22,138
blount county alabama
jwalker77
Pumpkin
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Pumpkin
Joined: Dec 2015
Posts: 22,138
blount county alabama
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Is there a closing cost on buying farm land. I know the down payment includes attorney fees, survey, etc. You pay that at the time of down payment. It is supposed to take about a month to close. Will there be a closing cost and what exactly is that for? Down payment is a down payment, reduces the amount you are financing for the property and most importantly to the bank shows that you have skin in the game. Closing costs include everything you listed: attorney fees, surveys, etc... PLUS appraisals, taxes, liens, perc tests etc...any expenses that are accrued during the process of purchasing the land. Thanks
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