- 1). Look in the newspaper and on line classifieds for vacant land for sale. Create a list of properties that are the size you desire and in the area that interests you.
- 2). Check with the zoning department in the area to make sure you will be able to build the type of residence you want to build on the properties that interest you.
- 3). Call each property owner and ask if they would carry the note if you put 20 percent down.
- 4). Negotiate the length of the note and the percentage of interest paid.
- 5). Call local community banks if you do not find a seller willing to carry a note and ask if they give loans on unimproved properties or, if not, if they know of a lender in your city that does give such loans. You'll have the greatest chance of borrowing the money if it is to build your personal residence and if there are other houses in the area.
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