Owner financing from Lotvestors LLC
If you can afford the payment, you are approved
There is no credit check and no employment verification. Pick a parcel, reserve it, pay the invoice for $99 down plus the $199 document fee, and the contract arrives by email within two business days.
The terms in one paragraph: every parcel on this site is owner financed by Lotvestors LLC at $99 down plus a $199 document fee (both non-refundable), fixed monthly payments at 16% interest for the term shown on the listing, no credit check, no prepayment penalty, a $35 or 15% late fee (whichever is greater), property taxes paid by us each year and invoiced to you, and a Contract for Deed that becomes a recorded deed in your name at payoff.
The terms, in one place
- Down payment
- $99, non-refundable
- Document fee
- $199, non-refundable ($298 total to reserve)
- Credit check
- None. No employment verification either
- Interest
- 16% per year, fixed
- Early payoff
- Any time, no penalty
- Late fee
- $35 or 15% of the payment, whichever is greater
- Property taxes
- We pay them each year, then invoice you
- Title
- Contract for Deed. The deed is recorded in your name at payoff
We are happy to send you a sample copy of the Purchase Agreement and Contract for Deed before you put down a dollar. Ask for one through the contact page and we will email it over. Read it, ask your questions, and only then reserve a parcel. Everything on this page is in there, in lawyer language.
Six rules that are part of every contract
Since so many buyers have misbehaved in the past, breaking local laws and creating liability issues, the following rules are now an important part of the contract. They apply for as long as you are making payments.
- Buyer will not live on the property or allow any other party to live on the property at any time during this contract.
- Buyer will not make any alterations to the property without seller's written consent. This includes, but is not limited to: clearing the property, adding structures or fences of any kind, or leaving items on the property.
- Buyer shall comply with all building, zoning and health codes and other applicable laws for use of said property.
- Any costs incurred to correct the above, including, but not limited to, trash removal, lot cleanup, fines and permit costs, whether due to the actions of Buyer or others, shall be the sole responsibility of Buyer.
- Buyer shall not record this contract in the public records of any public office.
- In the event of a violation of any of the conditions above, Buyer will be immediately in default of this contract.
How the program works
Here is the whole program in one paragraph. You find a parcel on the available land page that fits your budget. You reserve it with the form on the listing, and we email you an invoice for the $99 down payment and the $199 document fee, $298 total, from payments@lotvestors.com. The parcel is held for you for 24 hours; pay the invoice in that time and it is yours. Within two business days of payment we email you a Purchase Agreement and Contract for Deed through SignNow. You read it, sign it on your phone or computer, and your first monthly payment is due on the 15th of the following month. You keep paying until the balance is zero, and then we record a deed in your name. That is it.
Who is approved
Everyone who can afford the payment. That is the entire underwriting process. If you look at the monthly number on a listing and you can pay it without stress or hardship, you are approved. We do not pull credit, we do not call your employer, and we do not ask for bank statements. Past bankruptcy, collections, a thin file, no file at all: none of it matters to us.
The flip side is that you need to be honest with yourself. The down payment and document fee are non-refundable, and a missed payment has consequences we describe below. Please be certain the parcel and the terms are right for you before you pay.
The Contract for Deed, in plain English
We use a document called a Contract for Deed, also known as a Land Contract. While you are making payments, the property stays titled in our company name, Lotvestors LLC. You hold a signed contract that says the property becomes yours once the balance is paid. When the last payment clears, we draw up a deed in your name and record it with the county. At that point you own the land outright.
Why not deed it to you on day one and take back a mortgage? Because foreclosing a mortgage on a $3,000 parcel would cost more than the parcel is worth, and that cost would end up in the price. The Contract for Deed keeps things simple and keeps prices low. One thing to know: the contract says you will not record it in the public records. That is a standard term for this kind of agreement and it is one of the six rules below.
Interest, and why there is interest
Like any financing, there is interest. We charge 16% per year, fixed for the life of the contract. Pretty high, but better than the 24 to 30% on a typical credit card, and we are extending credit to people a bank will not talk to. In order to afford to offer financing to everyone, we have to charge for it.
The good news is that interest only costs you money for as long as you carry a balance. Pay extra in any month, or pay the whole thing off whenever you like, and there is no penalty of any kind. You save money and we are happy. Every listing also shows a cash price for buyers who would rather skip interest entirely.
Paying each month
Between the day you sign and the 15th of the next month, we will email you to set up your monthly payment. You can choose auto-debit from a checking account, a credit or debit card, a monthly emailed invoice you pay by hand, or a check or money order by mail. Pick whatever you will actually keep up with. Auto-debit is the one nobody forgets.
Property taxes
Once a year, we pay the property taxes on your parcel. Then we invoice you for them. On most of our Investment Acreage parcels this is a very small number, often under $30 a year, which is one reason they are easy to hold. The current annual tax is shown on every listing. The tax invoice is separate from your monthly payment.
Late fees
If a monthly payment is late, a late fee of $35 or 15% of the payment, whichever is greater, is charged. When a payment is going to be late, tell us before the due date. We always try to work with people and be as flexible as we reasonably can.
Default, the ten-day notice, and what you lose
At some point a contract has to mean something. If you default on a payment, or on any other term of the contract, we send you a ten-day notice to make things right. If the problem is fixed within those ten days, life goes on. If it is not, the contract ends and you lose the property, along with everything you have paid toward it.
That is the worst case and we want you to understand it before you start. It will not affect your credit in any way. We do not report to credit bureaus and there is no foreclosure on your record. But it is something neither one of us wants, so please size your payment accordingly.
The SignNow timeline
Once you pay the down payment and document fee on the site, within two business days you will receive the Purchase Agreement and Contract for Deed by email via SignNow, an electronic signing service. You can review and sign it on your computer or phone. The paperwork must be signed within seven days. Unsigned after seven days, the reservation is void: the $298 is forfeited and the parcel is relisted. Watch your spam folder, and if nothing has arrived after two business days, write to us through the contact form.
Sold as-is, no warranties
You are buying the property as-is, where-is. You are responsible for making sure the parcel is right for you and that you can do what you want with it. There are no warranties of any kind. Everything we know about a parcel is on its listing. Anything about what you can build or do on the land is a question for the county Planning and Zoning department, not for us. Most of our parcels are buy-and-hold investment land, not places to build or camp, and the listing will say so. If anything here is unclear, read the FAQ or ask us through the contact page before you pay, not after.
Questions about the financing
- What is the interest rate?
- Sixteen percent (16%) per year, fixed for the life of the contract. We are upfront that this is high compared with a bank mortgage and low compared with most credit cards. It is what allows us to extend financing to anyone with no credit check. The listing shows the exact monthly payment and term, so there is no guesswork. Because there is no prepayment penalty, you control how much interest you actually pay: extra payments or an early payoff reduce it directly.
- Do you run a credit check?
- No. We do not pull your credit, verify your employment, or ask for income documents. Our only approval question is whether you can make the monthly payment without stress or hardship, and you are the one who answers it. The trade-off is that if you stop paying, you lose the parcel and the payments you have made, though a default does not affect your credit in any way. Please be sure the payment fits your budget before you reserve.
- Can I pay off the parcel early?
- Yes, at any time, with no penalty. We would be glad if you did. Interest is charged on the outstanding balance, so paying extra each month or paying the whole balance off in a lump sum saves you money. To find out your current payoff amount, send a note through the contact form. Once the balance is paid, we close on the property and draw up the deed in your name.
- What is the late fee, and what happens if I stop paying?
- If a payment is late, the late fee is $35 or 15% of the payment, whichever is greater. We try to work with people and be flexible, but if you default on a payment or any other term of the contract, we send a ten-day notice to make things right. If it is not resolved in those ten days, you lose the property and all payments made. This does not affect your credit in any way, but it is an outcome neither of us wants, so please reserve only what you can comfortably afford.
- Who pays the property taxes during the contract?
- We do, and then we invoice you. Once a year we pay the county property tax bill on the parcel because it is still titled in our name. We then send you an invoice for the amount, which you pay on top of your regular monthly payment. Taxes on most of our investment acreage are very low, often under $50 a year, and the current annual amount is shown on each listing. After you pay off and the deed is in your name, the tax bill comes directly to you.
- Can I sell or transfer the parcel before it is paid off?
- Not on your own. The Contract for Deed is not assignable, which means you cannot sell your interest, sign it over to someone else, or record it, unless we agree in writing. If your circumstances change, ask us. We have been flexible with buyers before and would rather find a workable answer than see a contract default. The simplest path is usually to pay off the balance first, take the deed in your name, and then sell the parcel as the owner.
Questions
Something on this page still unclear?
Ask it through the form and we will answer in writing, usually within one business day. Name the parcel you have in mind if there is one.
Written answers are easier to keep and compare than a phone call, which is one reason we do not take sales calls.