How to Buy Property With Seller Financing:
The process of “financing”, whether it be land or a home or a car involves the owner/seller – in most cases a bank – agreeing to let the buyer pay slowly over time instead of making one large payment at the outset. In these situations, the buyer is paying more for the convenience of extending the payments over a number of years because the seller will typically not be breaking even, or even profiting on the deal until months or years in the future.
MidAmerica Land offers different types of terms for the majority of the properties we offer or advise on. Our payment terms are typically 48, 60, 72 or 84 months with a low fixed interest rate and a one-time down payment to get started. (Want or need custom terms, not a problem typically).
We also do not require a credit check with financing approval guaranteed. There is no penalty for paying down the principal in advance or completely paying off the loan before the term ends.
We offer a one-month grace period for missed payments. If it happens again or consistently over time without any explanations, the contract will be canceled and no refunds will be issued.