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Updated over 2 years ago,
Land loans in Riverside County California
Hey everyone! I sold an 8 acre lot in Perris to a buyer for $180,000 this week. Buyer gave me $90,000 down and has 18 months to pay me the balance of $90,000
He is going to pay me $1,000 a month for 17 months and the balance of $73,000 on month 18
I'd like to cash out now and get the $90,000 owed to me and the buyer would like a longer term like 10 years
So long story short, my buyer needs a $90,000 land loan for a 8 acre property in Perris. One acre lots in this neighborhood sell for $115,000+
Can anyone point me in the right direction? I buy and sell land exclusively but have always done cash deals and assumed land loans were far and few between for my area. thank you!