Hold Options For Properties
Landed Ground Offers a few different Hold Options on our properties to give you time to visit or do your due diligence.
OPTION 1: 7 Or 14 DAY HOLD:
We can usually hold a property for 7-14 Days for a non-refundable Hold Fee. The fee must be paid on zelle, venmo, cash app, or through the website listing (no checks.) The fee goes to your purchase if you decide to move forward. This gives you time to do Detailed Due Diligence on a property without having to worry about anyone else taking it. We started this because we have had properties for sale where customers have driven four and five hours to see the properties without contacting us, only to call us after getting home, very excited and enthusiastic— only to have their hopes dashed! We have had to tell them the property is sold or under contract which is not fun. Please Don’t be one of these people, it breaks our heart!
NOTE: The Hold Fee is Optional, but All Properties with Landed Ground are “fist come, first served” on deposits. The first person to put in a deposit will get the property.
If you decide against doing a Hold, Please ALWAYS CALL OR TEXT us about a property you are interested in. If you prefer email, make sure you replied to the initial email we sent you. We try our best to update listings the second they have received a deposit- “Pending” or once paperwork is signed by everyone and down payments clear - “Under Contract.” Unfortunately, sometimes things happen fast, and we aren’t in front of the computer to update listings. Just a heads up: We can only update land.com, landwatch.com and the Landed Ground website from a desktop computer. Since we are often in some pretty rural and remote areas inspecting properties and taking pictures, we do not always have a PC (or even cell service) for that matter.
General Rules;
The Point of the deposit is to hold the property for you in order for you to go and visit it, or make inquiries with local authorities for your due diligence. Remember:
There is no obligation to complete the property purchase when you put in a Hold Deposit, however If you decide to purchase the property, the deposit will be applied to your purchase!
We will sell the property to the first person who puts in a deposit and does paperwork.
Deposits expire after 14 days. If we do not hear from you, the property will be marked available on the 15th day.
Hold Deposits Are Not Refundable. When you place a property on hold you are taking it off the market, which is a valuable thing.
OPTION 2: BUILDER OPTION:
There is a different type of Hold Fee we offer on Finished Residential Lots ONLY-the “Builder Option.” Builder Options are usually 10-15% of the purchase price of the lot + Pro Rated Property Taxes, and are Non Refundable. You do not need to be a licensed Builder to take advantage of this option. Some rules apply:
This Option is only for Finished Residential Lots with Water Lines In The Road
Estimated Property Taxes Must Be Impounded with Option
Option Fee is Not Refundable
Who uses this option: Homebuilders or Individuals looking to build typically like to have a wide variety of lots to choose from when showing prospective clients floorplans. Not all floorplans fit on every lot. Additionally, there is no reason for a builder to buy and pay for a full lot if they aren’t going to build on it. The option allows a builder or someone pulling homeowner permits to lock in the pricing on a lot so they can invest the time to test soil, have architecture drawings done, etc. A builder can then show prospective clients this lot, without having to pay the full cost of having the lot in inventory.
OPTION 3: LANDED GROUND FINANCING
Since our financing, unlike a traditional mortgage, requires no personal guarantee, you can always lock up a lot for 2, 3 or even more months with our installment agreement. If your plans change, or you decide not to move forward with the property we can always cancel it. The payments aren’t refundable but you are never on the hook for the full balance. See our article on the installments for more details.
If you are ready to put in your deposit, please call or text us which lot and payment method you’d like to use, or add your hold fee through the listing on the website. If you have any questions, you are always welcome to call or text us at (323) 800-8379.
