Owner / Seller financing is offered as a way to purchase your dream property. This is accomplished through a contract for deed. For most properties it can be paid off or refinanced at any time. Minimum down payment is 5%.
*If only paying 5% down, all new clients will be required to temporarily lease the property and make payments on time for 6 months before a contract for deed is executed. You may skip this initial lease period if paying 10% or more down.
With the initial lease option, if all payments are made on time for 6 months, the 5% security deposit will be converted to your down payment. Your payments will remain the same. If you do not make all payments on time, the 5% deposit will be returned after all fees, damages or expenses owed are deducted. There is NO cost difference. This helps keep costs lower for all of our valued customers.
*Lease to Contract for Deed conversions are typically performed in June and December of each year for qualifying clients. If you have a multi-party discount rate, then all parties must be eligible for conversion, or you may request to convert with a non-discount rate.
Financing is offered at a fixed 12% interest with a 5% down payment with a 20 year promissory note. For larger properties over 50 acres, loan terms can be up to 30 years, depending on your desired monthly payment.
If paying over 30% down or purchasing multiple tracts, the rate may be adjusted slightly at our discretion.
Property taxes are added to and collected through the monthly payments and will be paid to the county by KY Whitetail Land Co.
A $60,000 property financed for 20 years requires a $3,000 down payment, and monthly payments of approximately $640/month including taxes.
*By using owner financing, you agree that upon the event of default, you will re-sell the property to the owners of KY Whitetail Land Co upon request. Any equity in the property will be returned less any damages or charges.
*By viewing a property, whether or not escorted, you agree that you are doing so at your own risk and that you indemnify and hold harmless KY Whitetail Land Co from any and all liability resulting from your actions. KY Whitetail Land Co in no way represents that properties are safe from all dangers.