Things to Know prior to purchasing vacant land:
1. Raw land is acreage with little or no improvements. Improvements include electric, phone, gas, water and septic. Raw land also involves an impact fee from the county when building. It is important to check the amount of that fee with Pinal County prior to purchasing a parcel of raw land.
2. There are acreages that do have a shared well and/or a septic system in place. Electricity is available on most rural parcels.
3. Financing may be available on some parcels. The down payment and interest rate is usually higher. Most land purchases are cash or Seller Carry.
Things to know when purchasing homes with acreage:
1. The types of financing include conventional, FHA, VA and the Seller Carry option. Not all lenders will provide financing for manufactured homes with acreage.
2. Manufactured homes with water (private, shared well, private water company) can be financed with certain lenders experienced in this type of transaction.
3. Manufactured or site built homes with a hauled water system do not qualify for a loan. Cash or Seller Carry options would be necessary.
Buyers should consult with a Realtor to obtain Mortgage Company and Bank recommendations on their desired acreage property.
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