Wish me luck! I'm pulling the trigger on the land purchase today

[O.S.O.K.]

I'm submitting the loan application to the credit union and signing the official offer on the 30+ acres today. I just need a few more documents and I can send it all off.

I have a feeling that prior to the housing market/mortgage crash, this all was a lot less complicated...

I'll let you know when it's "done" or actually, started as the closing date will be July something... nothing happens quickly these days it seems.

I'd much rather get the closing done in May.

[slamfire51]

There's no better feeling than getting your own piece of property with acreage.
Long gone will be the neighbors that can watch every move you make. Your privacy is priceless. I had 12 acres and I built a 1200 sq. ft. ranch style house on it. Sold it before the real estate crash and made a killing. I see now it was a mistake to sell.

OSOK, describe the acreage, cleared? Wooded?
I'm happy for you, and the best of luck in the purchase.

[O.S.O.K.]

Thanks. I just got through faxing 27 pages of credit information to the credit union...

Yeah - I had 20 acres that we built a big brick house on and sold about 5 years ago - got a very good price for it and then the area around it "blossemed" with trailer homes after we sold... so we were very fortunate. Nothing against trailer homes - just that they don't increase the value of custom brick homes... the people that bought the place are very happy though so it worked out well for us both.

The sale also cleaned up all of our debt which was a great feeling - and we bought a more modest home in town and fixed it up.

I plan on selling our current home and moving to this property when the time is right. My youngest is still in HS - one more year and doing really well, so we don't want to mess that up. So we're staying here at least one more year.

Here's the property - its the piece on the East side of the country road - the total outline is 154 acres - "ours" is 30 something.

http://farm6.static.flickr.com/5261/5565114981_9ccc2203c8_m.jpg

The light green is 7 year old pine and the dark is hardwood bottoms. There are several drainages on the property and the topography is such that we can easily have a pond made by damming up the downside end of a draw.

There's a fence all the way around this and a little 1800's family cemetary about midway along the country road frontage - right were that little dark green stand of trees is. The road is gravel but this is just a short way to the paved state highway.

Our friends are just 7 miles up the state highway which is nice.

This is in central Mississippi.

[slamfire51]

Thanks. I just got through faxing 27 pages of credit information to the credit union...

Yeah - I had 20 acres that we built a big brick house on and sold about 5 years ago - got a very good price for it and then the area around it "blossemed" with trailer homes after we sold... so we were very fortunate. Nothing against trailer homes - just that they don't increase the value of custom brick homes... the people that bought the place are very happy though so it worked out well for us both.

The sale also cleaned up all of our debt which was a great feeling - and we bought a more modest home in town and fixed it up.

I plan on selling our current home and moving to this property when the time is right. My youngest is still in HS - one more year and doing really well, so we don't want to mess that up. So we're staying here at least one more year.

Here's the property - its the piece on the East side of the country road - the total outline is 154 acres - "ours" is 30 something.

http://farm6.static.flickr.com/5261/5565114981_9ccc2203c8_m.jpg

The light green is 7 year old pine and the dark is hardwood bottoms. There are several drainages on the property and the topography is such that we can easily have a pond made by damming up the downside end of a draw.

There's a fence all the way around this and a little 1800's family cemetary about midway along the country road frontage - right were that little dark green stand of trees is. The road is gravel but this is just a short way to the paved state highway.

Our friends are just 7 miles up the state highway which is nice.

This is in central Mississippi.

Sounds GREAT! Not that far from me.
When you get the pond made and stocked, I'll give you my phone #. :eyebrows:

[jjeez]

Congrats! nothing like having your own property!

[O.S.O.K.]

Slam - you're in Tennessee somewhere... I think the border is only about 1 1/2 hours from this.

My wife gets first dibbs on the pond :D She wants me to stock it with crappy. That's her favorite fish to catch and eat :) I'll need to make it deep - they like cool water.

Haven't heard back from the credit union yet...

I think I'll be ok -the loan is about the same amount as a luxury car... but I guess banks are very cautious these days.

[romak10/63UF]

Im wishing you luck im sure you will get your 30 acres.. !

[O.S.O.K.]

Thanks. And maybe I'll a little left over for a mule too :)

[slamfire51]

Slam - you're in Tennessee somewhere... I think the border is only about 1 1/2 hours from this.

My wife gets first dibbs on the pond :D She wants me to stock it with crappy. That's her favorite fish to catch and eat :) I'll need to make it deep - they like cool water.

Haven't heard back from the credit union yet...

I think I'll be ok -the loan is about the same amount as a luxury car... but I guess banks are very cautious these days.

That's fine. Stock it with channel cats too. The wife can have the crappie. :)

[slamfire51]

Thanks. And maybe I'll a little left over for a mule too :)

You missed Mule Day in Columbia, TN a few weeks ago. Thousands of mules at every price range could be had.
I know you're kidding, but Mule Day is something to see.

http://muleday.org/

ETA: Larry the Cable Guy was there last yr.

[coppertales]

when is the land warming party? My camp search hit a roadblock. My wife and her sister decided to go in together on the camp. I have no idea what they are thinking of buying and where......chris3

[Charliebravo]

I'm almost done paying off the house (16 months left) and I'll be debt free. Once that's done, I'm looking for some E. Texas Piney Woods land (northeast of Longview). What percentage does the bank/credit union want down, and what's the going interest rate for land with excellent credit?

[O.S.O.K.]

You know, I was looking in that area too. The land prices in Texas are pretty dang high - one of the reasons that I decided to buy in Mississippi.

20% down and 6.5% interest on a 15 year loan - not bad. I am working with a credit union which means that when I pay the loan off, I get dividends back.

The thing that threw me but I've found is normal is that the selling agent wanted 10% earnest money - but this goes into the down payment... so that's OK and I get it back if anything goes wrong other than me backing out.

[O.S.O.K.]

when is the land warming party? My camp search hit a roadblock. My wife and her sister decided to go in together on the camp. I have no idea what they are thinking of buying and where......chris3

The deal in Wisconsin didn't fly?

I know you didn't do the west TX thing...

Check Mississippi! ;)

[coppertales]

The deal in Wisconsin didn't fly?

I know you didn't do the west TX thing...

Check Mississippi! ;) The deal was in the UP of MI. I have another camp lined up for a looksee if I can get up there next month. The inlaws live there and I lived in the UP for 22 winters. However, no more winters in the UP for me. I fired my snow shovel when I moved back to Texas....No MS. I lived there for a few years when I was a kid. Besides, I already have my southern camp here in Texas......chris3

[O.S.O.K.]

OIC - you're a snowbird :D

I'm planning on splitting the difference - the area that I'm buying gets snow occasionally but then it melts in day or two. Very mild winter. But there's a full change of seasons.

I like it also because:

1) you can literally hunt somehting year-round
2) deer season is from Oct to the end of January and you take a deer a day
3) water table is high and you can get good potable water very easily/cheaply
4) great for gardens - the growing season is less than here in Texas but man you can grow anything there
5) land is inexpensive
6) there are some nice fishing lakes within an hour's radius of this area
7) nice folks in the area
8) this is closer to Iowa where my wife's folks live and Florida where mine are
9) gun laws are good - shall issue carry permits
10) while I am building a house and such there, I can claim it as a write-off for entertaining customers which will in effect give me a discount on all of the stuff I need
11) it's somewhat isolated
12) I have friends 5 minutes away
13) I have kinfolk in-state
14) no charge for a culvert install, electric hook-up, county water hook-up
15) property taxes are decent
16) I can get to an international airport in a little over an hour's drive
17) place is 5 minutes away from the Natchez Trace :)


That enough?

[Charliebravo]

You know, I was looking in that area too. The land prices in Texas are pretty dang high - one of the reasons that I decided to buy in Mississippi. Sorry. Just can't bring myself to leave Texas. Besides, my kids will probably end up staying here and I'll eventually have grandkids that I want to see.


20% down and 6.5% interest on a 15 year loan - not bad. I am working with a credit union which means that when I pay the loan off, I get dividends back.20% down seems reasonable.....but 6.5% on a 15-year note seems a bit steep.

[O.S.O.K.]

I like Texas too but $90K for 10 acres? For land that's an hour and half to two hours from an international airport? That'll easily get you 40 acres in MS.

I also understand about grandkids but are you sure your kids are going to stay in Texas?

My oldest is in Iowa with her husband. My youngest is planning on going to the AF Academy - and then he'll be all over. My middle child might stay in the Austin area....

[jojo]

If you don't mind my asking where did you get property in Central Ms. I was born and raised in Central, Ms. Would you be referring to the Lee or Pontotoc County area.

[O.S.O.K.]

Montgomery

[slamfire51]

Montgomery


The way these storms are coming in tonight, there may not be a Mississippi or Tennessee tomorrow.
I hate this crap.

[jojo]

Montgomery

I'm located in Attala County. Definitely some good deer hunting around the Yazoo. Good luck with your property

[O.S.O.K.]

Thanks. Still waiting for the loan approval... grrr.

[O.S.O.K.]

The way these storms are coming in tonight, there may not be a Mississippi or Tennessee tomorrow.
I hate this crap.

Yeah, bad timing for my wife too - she hates tornadoes and wind storms in general... and she's a weather bug so she knows all about each and every storm.... sits with the weather channel on the tube while she works. :dammit:

[slamfire51]

Yeah, bad timing for my wife too - she hates tornadoes and wind storms in general... and she's a weather bug so she knows all about each and every storm.... sits with the weather channel on the tube while she works. :dammit:

I never liked the Weather Channel, not specific enough for my liking.
I use www.Intellicast.com and enter my location.
Very good radar coverage. You can zoom in right down to your street or zoom out to see the whole US.

[O.S.O.K.]

She doesn't need to know about that :lool:

[slamfire51]

She doesn't need to know about that :lool:

I don't blame you. LOL

[guns-n-tonic]

I wish u the best in getting it..its on my bucket list to have enough land to buy for at least a 200 yard range w/o disrupting neighbors..

[O.S.O.K.]

Thanks :) http://www.gunsnet.net/showthread.php?9343-Woohoo!!!-Loan-approved-purchase-agreement-sent...

And I'm planning on making a "buffered" shoot house - with a tunnel of sorts on the front end made of sound-absorbing materials - maybe just hay bales... or something. Just to cut the noise down when I'm blasting away :D

[guns-n-tonic]

u could apply for a suppressor..$200 tax plus the can?? just a thought, but then again i like "turning gun powder into noise!!"