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Maine Land With Owner Financing

Maine Land With Owner Financing

Maine land is low cost, plentiful and unspoiled.

Why? Because if you dig the map out (unfolding, smoothing map) Maine sticks out pretty plainly up here in the right hand corner of the world. Not jammed in between other states like a Rhode Island or Delaware.

Not over populated this place, spot with all the space called Maine.

The natural resources are clean, respected, enjoyed. And to own a piece, a property acreage of your own, land in Maine, well, that is a strong desire, emotion filling the heart of many.

We list Maine land parcels of all sizes, types and sizes. Sometimes the buyer is someone serving in the armed forces in this country or far away from the United States borders. And land in Maine with owner financing is a big plus, handy purchase feature.

Saving money, living on base housing, wanting something of their own to invest in for when they get done their hitch for Uncle Sam.  

A small piece of Maine land where the real estate buyer can put a third down payment of their hard earned money, and make monthly installments that fit their budget is easy to set up.

With owner financing, with Maine recreational land, we are only talking a five year or shorter period in most cases with the smaller seller carried property listings. And as you grow older, you realize how much faster the blue and green marble spins.That time flies by much quicker. Before you know it, the seller getting a five, six percent interest rate on carrying, taking back, “holding” the first mortgage is kind of sad to see the mortgage discharged. Paid in full, all in all done.

There is 99.9% of the time usually a no prepayment penalty mortgage clause in all the Maine land owner financed property sales.

mainegrandlakeregionPay ahead, pay it off early without an interest charge for settling up ahead of schedule on the owner financed Maine land installments. And other promises come in to play, spelled out in the mortgage for the borrower, buyer to not to commit waste.

To make those payments on time or their is a late fee. Gonna hurt, feel pain.

The mortgage the seller takes back also spells out all the sobering details about the legal foreclosure process starting if you miss that monthly payment, find yourself behind three months. 

And in the promissory note, the Maine land mortgage, the buyer promises to pay the property taxes.

Keeping them current also discussed at the Maine land real estate closing. Because if the buyer does not, it can affect the credit rating of the seller. Who has to step in and pay them, add on penalty charges and possible to consider starting foreclosure on the mortgage. Because what was agreed to do is not being done by the buyer with the mortgage on the Maine land. Learn more watching, listening to a Maine owner financing land video explanation.

With Maine land, something on a river, stream, maybe a lake if you are lucky, the enjoyment is knowing everything under foot is yours. You are buying or own outright the property under your feet. Underneath all is the land. Maine land. Your foundation to start building a home, to use on vacations with a little cabin you build with your kids help. Or Maine land to just park a camper travel trailer on.

A Maine hobby farm could become a place to grow, raise your own produce, critters for self sufficiency.

hungrymainebirdsA waterfront property could be rented out for profit until you retire full time in Maine. The neat investment benefit with Maine land is you can use it, enjoy it any of the four seasons in Vacationland.

Do your homework on what you can and can not do with land around a Maine lake, river, stream, pond, the ocean though.

Waterfront shoreland zoning in Maine has specific regulations to protect the Maine natural resource. So we can pass it on in as good or hopefully better shape to our kids. 

Owner financing the Maine land just makes the purchase easier, quicker. Without a bank and the costs for financing added on in the exercise. Banks like to sell the loans they make, package them for the secondary mortgage market investors. And not not wild about holding on to a fifteen year mortgage secured by that twenty acres you want to buy on a Maine river. The rate is higher, the down payment can be forty percent if the bank will even make a land loan.

Most real estate sellers do not need to have all the money from the sale of that forty acres of Maine land either.

So they can wait for the payments to trickle in from the Maine land buyer each month. If the land seller did have the cash, the bank interest rate of one percent or lower is pretty ho hum. Checking off receiving the monthly payments like clock mainefishingwork on the same amortization schedule each have if set up right can be a good relationship for the Maine land buyer and seller.

To get six, seven percent or whatever rate is hammered out with a payment the Maine land buyer can handle is a very good situation for the seller too. The buyer is happy to avoid a few thousands dollars in bank charges.

To get a lower bank rate.To fork over a lower down payment of hard earned money than a bank requires by dealing with the seller in the mortgage partnership.

We list and sell lots of properties, land in Maine with specially designed owner financing to make it easier to buyer property in Vacationland.

Search our Maine real estate listings, our ME properties. Follow our blogs and videos.

I’m Maine REALTOR Andrew Mooers, ME Broker

207.532.6573  |    [email protected]   |   MOOERS REALTY 69 North Street Houlton ME 04730


Andrew Mooers

Welcome to our Maine real estate website. I am the father of four grown children, have listed, marketed, sold properties for over forty years. Lots of changes in the real estate industry over that many decades and daily we re-invent our job. I grew up on a Maine farm that I bought from by three older brothers. My youngest son continues in the tradition on that same Maine farm. Here to help with property searches for homes, farms, land, waterfront, multi housing rentals, small mom and pop business listings.

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