Oklahoma Land for Sale by Owner
While real estate brokers and sales agents control the vast majority of properties sold in the state, finding Oklahoma land for sale by owner can offer some significant advantages for a buyer.
Following is a brief list of some of those advantages.
- The purchase price will probably be lower because a real estate commission isn’t involved.
- In many cases, the owner will provide convenient seller financing.
- Because the owner is providing the financing, the buyer doesn’t have to deal with all the bureaucratic “red tape” and lengthy applications involved with bank financing.
- Most of the time, seller financing doesn’t require credit checks.
- To facilitate the sale of the property, sellers will often accept much smaller down payments than would be required by banks.
- Sellers might also be willing to accept monthly payments over a longer amortization schedule than would banks.
- In most cases, institutional lenders (banks, insurance companies, credit unions, etc.) won’t even loan money on raw, unimproved land. Yet in order to make the sale, an owner will probably be very willing to provide the financing.
To a land speculator or investor, nothing is more appealing than finding an excellent tract of Oklahoma land for sale by owner at a cheap price, and then having the owner willingly provide a very beneficial financing package. In such an arrangement, there can be astonishing profit potentials, with the right property and a little luck with timing.