Posted on: 10th Mar, 2010 08:57 pm
I'm thinking about getting land thru owner financing...The intention would be to build a house on said land...My question is, can I build on land that I obtained thru owner/financing??
Hi Ltown,
The land you purchase through owner financing can be used to build a home on it. However, before you build a home you must have the legal ownership of the land. If the land is encumbered with any liens or if you do not have full ownership rights to the property, you will have problems when you build a home on that piece of land. Otherwise, if you fulfill the owner financing terms and get a clear title to the land, you can surely build a home on it.
The land you purchase through owner financing can be used to build a home on it. However, before you build a home you must have the legal ownership of the land. If the land is encumbered with any liens or if you do not have full ownership rights to the property, you will have problems when you build a home on that piece of land. Otherwise, if you fulfill the owner financing terms and get a clear title to the land, you can surely build a home on it.