The wife and I have been wanting to purchase land to build our dream home on within the next 5-10 years.
I've inquired with our credit union and a local bank and they both seem to shy away from land financing with out 50% down. The wife and I both have great jobs but with three kids in daycare saving cash can be a struggle. Home prices in my area are quite soft now but land prices seem to remain solid.
I've run across a few sellers that are offering owner financing with a little cash down. I found a 5+ acres parcel that I really was interested in but the seller wouldn't get the land surveyed and mark so we could see the actual property boundary's. He also would not allow any improvement or access to the land until paid in full.
Any of you guys have any experience either buy or sell you'd be willing to share?