Frequently Asked Questions (FAQ)
Questions to Ask When Buying Land
You probably have some questions. That’s okay, a lot of people do. Here is a collection of questions that we get asked regularly, along with our answers.
Q: How do I make an offer on a property?
A: You can use the ‘Buy Now’ button on the listing page to buy the property with cash. You can use the ‘Buy With Financing’ button on the listings page to submit the down payment and Documentation Fee for owner financing. Otherwise, you can call Andrew at (313) 349-0434. All offers are on a first come first served basis, so don’t wait!
Q: What is the ‘Buy Now’ button?
A: This allows you to purchase the property at the listed cash price immediately through our website with a safe and secure checkout. Click this button, and you will be directed to the checkout page where you will submit the total cash price of the property with your debit or credit card. If you would like to pay with a different method you can contact Andrew at (313) 349-0434.
Q: How do I buy the property with cash?
A: This is the quickest way to make the property yours. It goes like this: 1) We send you a Land Sale Contract for your review through an electronic signing service called SignNow. 2) You, Felicia, and Andrew will review and sign the documents. 3) We sign and notarize a Warranty Deed deeding the property to you and let you know when this is done (evidenced by a picture or video). 4) Your payment is processed (credit/debit card, direct wire, PayPal, regular check or electronic check). 5) When payment is received we immediately send the deed to be recorded. Most counties will finish recording within 2 days.
Q: What is the ‘Buy With Financing’ button?
A: Similar to the ‘Buy Now’ button, this allows you to purchase the property at the listed owner financing plan immediately through our website via the safe and secure checkout page. Click this button to go to the checkout page where you will submit the listed down payment and Documentation Fee with your debit or credit card to secure your property and make sure it can’t get sold to someone else.
Q: How do I buy the property with owner financing?
A: Here are the steps: 1) We send you a Promissory Note, Contract for Deed, and a Land Sale Contract for your review through an electronic signing service called SignNow. 2) You, Felicia, and Andrew will review and sign the documents. 3) Your down payment and Documentation Fee is processed (credit/debit card). 4) We set you up for automatic monthly payments with our payment processor GeekPay. 5) Your property is deeded to you within 30 days of the property being paid in full.
Q: Why is the cash price less than the terms price?
A: We don’t charge interest on top of the listed monthly payments. But yes, since we’re getting paid for the property over a number of years, we do charge a higher price overall. This allows you to skip applying for funding from banks, and build equity in your property with easy monthly payments. And you can prepay at any time without penalty.
Q: How long after submitting a down payment until the sale is closed?
A: After your down payment and Documentation Fee has been received, we will email you the required documents through an electronic signing service called SignNow. This will include a Promissory Note, Contract for Deed, and a Land Sale Contract. After reviewing, you will electronically sign the documents. Felicia and Andrew will also electronically sign the documents at this time. We then get you set up with automatic monthly payments. This whole process only takes a day or two!
Q: What can I do when I have the property under contract?
A: Unfortunately, due to a couple of bad experiences, we don’t allow any structures or buildings to be constructed on the property while it is under contract. You can, however, visit and recreationally enjoy the property whenever you want! If there is a modification you would like to make to the property while it is under contract, you must receive written consent from us first.
Q: When does the property get deeded to me?
A: If you purchased the property with cash, you will get deeded the property within 5 business days after payment is received. This allows us time to draft the deed and sign it in front of a notary. If you purchased the property with owner financing, you will get deeded the property within 30 days of the property being paid for in full.
Q: Are you realtors?
A: This is a great question and one we get asked often! No, we are not real estate agents or brokers. We buy and sell land through our company, which is owned by us. We don’t charge extra fees like a realtor would – sometimes as high as 8%!
Q: Can I visit the property before I purchase it?
A: Yes! Just keep in mind that our properties are sold on a first-come-first-served basis. If you want to make sure no one else buys the property before you visit it, you can submit the down payment and Documentation Fee to reserve it.
Q: How do I find the property?
A: Each property listing on our page has the corner coordinates, an address, and what type of road access it has. There is also a map that shows the exact property location, and a link to the property on Google Maps. You can enter the address or coordinates provided into your GPS or favorite map application on your cell phone, and it will direct you to the property!
Q: What kind of land do you have for sale?
A: We specialize in vacant and undeveloped land. These properties can be zoned as recreational, residential, open use, or agricultural. Some of the residential lots have utilities, but it’s not a guarantee. We try to keep a variety of properties in our inventory, to accommodate investors who want different things. We will clearly state on the property listing page what is and isn’t available with each property.
Q: What is this property zoned?
A: The zoning of the property is listed on the property listing page on our website. You can also call the County to confirm (you will need the parcel number – found on the property listing page).
Q: How often do you add new properties to the website and VIP list?
A: We are always acquiring new properties, and add them to our website on a continual basis. Be sure to check back often and let us know where you’re interested in buying land so you don’t miss any new properties!
Q: When I look up the property on the County’s database, I see it’s in someone else’s name. Why is that?
A: It can often take a County months to update when a property changes owners. We move property very quickly, so it often happens that we move quicker than the County can update their database. We can easily provide proof of ownership by sending you a copy of our deed and the documents we used to purchase the property.
Q: Why purchase from Compass Land USA instead of other online sources like Craigslist and eBay?
A: All of our properties have all been hand-selected by us, and we’re open with you about all of their features and qualities. We only sell quality land we believe people will love, at a fair price, with a safe and simple purchasing process.
Q: Are back taxes and debts owed on this property?
A: No. We pay off all taxes and debts owed on the property before we bring it to the market. The County’s Treasurer office can verify that the taxes are up to date. We will share in the property listing if the property happens to be in an HOA or POA, as well as what their annual fee is. All information we know is in the property listing.
Q: Are mineral rights included with the property?
A: If mineral, water, or timber rights were specifically stated in the vesting deed, we will advertise this in the property listing on our website. We do not conduct a Mineral Rights search with each property that we buy (it would be too expensive). If this is something that is important to you, you’re welcome to pay for the Mineral Rights search to find out for sure if they’re included with the property.
Q: Does the property have utility access?
A: Most of our properties don’t have power, water, or sewer available. If it does, it will clearly state in the property listing which utilities are included. You can also call the County Zoning or Planning and Development office to check.
Q: How much will it cost to drill a well?
A: This varies greatly by location and how far the drill would have to go to tap water sources. You can call a local contractor or well-driller for an estimated quote.
Have a different question? Call Us! (313) 349-0434