$218,000 for 5 acre lot with RV – Cash or Owner will carry with $54,000 down payment 5% for five years
$197,000 for 5 acre lot without RV – Cash or Owner will carry with $30,000 down payment 5% for five years
These terms are not open for negotiation. For an owner carry, the buyer must prove a credit score of over 700 and consistent income over $3,000 per month for at least three years.
The owner-financed loan is a five-year term and a 30-year amortization. You’ll make the same payment every month for five years (60 months) that you would have made on the loan with the 30-year term. But after that, you’ll owe all of the remaining principal. If you prefer different terms, please do procure a mortgage.
Deed & Transfer
Contract for Deed for first two years of financing. Then Deed of Trust if no late payments and no other breach. Deed of trust upon approved permits for foundation work. RV title transfers in full upon receipt of down payment.
Transaction to be handled in escrow at Mid Valley Title or another local title company mutually agreed upon. Title company must have ability to do electronic signatures until final in-person signing.
Escrow costs split 50/50 between buyer and seller. Buyer is encouraged to seek their own title search and title insurance. Seller will provide title report from 2018
Special Conditions and Breach
If you plan to cultivate cannabis beyond the allowed amounts, you will risk getting a visit from enforcement. If seller-financed, a conviction related to the property or any fines or liens levied against the property will call the note to be paid in full [or seller may cancel the loan and repossess]. Any other lien levied on the property, such as for unpaid property taxes, will have the same results. For cash buyers, of if you get your own mortgage, it’s your own business what you do on the property.
Things You Should Know
The seller owns the property outright and the RV outright and has the right to sell them both. There are no liens or loans on either. Ongoing, there are only two obligations to the owner: Property taxes and mutually-agreed fees to maintain the paved private road. That’s it. No water, sewer, HOA fees. The property is perfect for off grid solar if you wish. You can do what you wish. The land is yours.
Like most property in California now, this lot is in a high-fire-danger zone [State Responsibility Area]. Lucky for the buyer, the Bear fire removed most of 80 years of fuel (brush) buildup. Some burned trees may fall down over time, but you will see there are none near the building areas or the RV. Some of the brush will try to grow back. Make your choices accordingly.
The well has not been flow tested. It served us at high flow rates through droughts and wet seasons. Bring a hose and test it if you like. The septic tank has not been formally tested. The septic is a 1,000 gallon concrete system. It was pumped on a whim in January 2019 simply because I had it open and thought it would be smart. The pump service fellow did the work but then commented that it absolutely didn’t need to be pumped. It was very clean with no sludge. I have some photos (and possibly videos). You are welcome to inspect it if you like. Currently the septic is approved and permitted for any two bedroom home of unlimited square footage.
There are several ideal areas for steel sheds, warehouses or additional dwelling units. There are also ideal areas for an orchard, vineyard, gardens, or other sun-hungry agriculture. There is plenty of room for horse corrals or parking boats or equipment for your business. Usable acreage is a wonderful thing.
The property comes with a lot of easements and rights in addition to the land. Get a title report and check it out.