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I am looking to put an offer on an old house and adjacent land (two seperate parcels, same owner) Is

I am looking to put an offer on an old house and adjacent vacant land (two seperate parcels, same owner) What is the best way to finance the land?
Thanks, Mike S
  • March 05 2012 - Santa Ana
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Answers (2)

Joining parcels would be the best way, it is much harder to get  financing on raw land.  Or   ask the seller to take some of his profit and carry back the financing on the raw land.  

a joined parcel is worth less than a seperate parcel in my opinion so you may be able to get a better deal by joing them and waiting to see if it will appraise but if you do that you cant unjoin them unless you payoff the loan you get.  Remember all RE markets are unique but the theory should be correct.
  • March 05 2012
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user616901 / I have two suggestions / 1.  As is  / A residential city Lot Loan from U.S. Bank / 2. Have the property Re-Recorded under ONE APN instead of the two you have now / If you plan on enjoying the bare land or plan on building another Unit this is cheaper for financing / Only One Loan instead of Two / Rudi
  • March 05 2012
  • 0Yes

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