Similar to property foreclosures, land foreclosures are pieces of land that are repossessed by lenders and governments for failure to pay land taxes or loan payments. They are then sold at auction.
Land foreclosures happen every day all over the United States, but most buyers will never hear about it. When a landowner defaults on their financing payments, the lender, either a government or bank agency, will move to repossess it and sell it through a special sale. It's at these sales that buyers stand to find some of the best prices on farm land for sale than they're likely to find in their life. Incredible deals can be found on both residential land and commercial land through ForeclosureDeals.com, whether in our comprehensive lists of bank owned land, or through a government owned tax auction.
If you're thinking of investing in land for future real estate development, buying horse properties as a vacation retreat, or looking for farm foreclosures to expand your agricultural business, foreclosures are simply the way to go. With our service, you'll have thousands of listings of lands for sale from all over the country right at your fingertips that you can access and view with a simple search. View hundreds of properties, weed out the ones that don't interest you and you'll be left with some fantastic opportunities. You'll find everything on our database and all of it available for extremely low costs. There are lots of previously owned ranch properties and fancy farm foreclosed homes that are ready for you to move right into, as well as tracts of rural acreage that is completely untouched and unspoiled. There are even USDA properties that you can purchase directly from the US Department of Agriculture!
Foreclosure Deals can help you find the land you need for recreational purposes, or for investments in building houses, and all for cheap prices that will earn you lots of value. Come buy a property with the help of our team today and become the landowner you want to be for an incredible bargain price.
You do not have to go through the lender, since the land has not yet been foreclosed on and repossessed by the bank. The homeowner might be more willing to sell to you because they want to avoid foreclosure and keep the equity they've built up over time.
One risk of buying foreclosed land is that some of it is undevelopable. If you want to put a commercial building (or even a residential property) on the premises, zoning laws may prevent that. Another risk is that tax liens may be on the property, which could allow state or federal agencies to claim the land even after you buy it.
If you can pay for it, you can built it wherever you like. If you can't pay cash for the home, though, getting financing for building the property – even on your own land – can be problematic if your foreclosure is less than seven years old.