Grant Trevithick Carrollton Real Estate Investor Pro Tip - Avoid Scams when purchasing Owner Financed Land

Grant Trevithick Carrollton Texas Real Estate Investor here with another pro tip about how to avoid scams when buying Owner Financed Land.When you purchase land in East Texas, you can enjoy it not only as a solid investment, but also as tangible rural property you can put to use however you like.

Some people decide to grow vegetable and fruit crops on their land here in Texas, either to feed their families or as a small farm business, selling produce to local restaurants and other establishments.

Others use it as a great getaway location, a pristine place in which to spend some time to recharge and feel restored.

Whatever you decide to do with your land, here’s something you need to know: There are scams out there (no surprise, right?). It’s important that you learn how to avoid these so that you can take advantage of the benefits of owner financed land for sale in Texas without getting scammed.

If It’s Too Good To Be True, It Probably Is

Don’t fall for promises that can’t be backed up. A scammer will prey on your needs, offering you a deal they hope you can’t resist. But resist you must! If the terms, conditions, and costs don’t feel right, sound improbable, or simply seem too good to be true, there’s an excellent chance that something fishy’s going on. Trust your instincts. Don’t get sucked in by promises that sound tempting but come with a catch.

Just Google searching the name “Grant Trevithick Dallas Texas” isn’t good enough for you to get into business with them. Either do your due diligence and research the heck out of this company, or just walk away. Reputable companies will put everything in writing, and they have a track record to share with new or potential buyers.

RESEARCH THE COMPANY

As we just said, research the company you’re dealing with! Too much can go wrong with owner financing when the company doesn’t know what it’s doing, or when the financing really isn’t there and an unscrupulous party is simply trying to scam you out of down payment money.

Owner financed land for sale in Texas needs to be offered by an established company that is in the business of buying and selling land and can show you, without a shadow of a doubt, that they have the means to back up the financing they’re providing to you.

You must ask the company key questions to make sure they know what they’re doing and they’re not trying to scam you. Here are key questions you should ask:

• How long have you been in business?
• How many owner financed land-sale transactions have you completed to date?
• What type of assistance do you offer to buyers?
• Can you explain how, exactly, you conduct your business with ethics and integrity?
• Can you spell out every detail of your owner financed terms?
• How well do you know the region and communities you serve?
• Why are you in this business?
• Can you explain, in detail, the land purchase and owner financing process?
• Would you provide me with references?

The more you probe, the better you’ll be able to tell if you’re dealing with a legitimate company or a fly-by-night scamming operation.

GET QUOTES IN WRITING

It’s imperative that you know what numbers you’re dealing with. This is why you must get quotes in writing, with all terms spelled out. Don’t let the company get away with vague, ballpark figures; get exact numbers and exact repayment dates.

You need to know how much you’ll be paying each month, and for how long. You also must know what the fees are (here’s where scammers can really get you). Get everything in writing, and don’t sign on until you’ve carefully reviewed the terms and vetted the company’s credentials.