There are several ways to purchase through NorthwoodLand Company. Of course, a buyer can obtain a loan from his/her bank to purchase any parcel we offer. However, we do offer some options to help monthly payments and terms fit your budget.
Lease/Option: With a low down payment of approximately $500-$2,000, we offer a 12, 15 or 20 year lease with an option to buy. A deed to the property will be issued upon completion of the lease agreement.*
Land Contract: With 25% of the purchase price as a down payment, we can issue a land contract. A deed to the property will be issued upon completion of the contract.
Either options listed can be paid off early with no penalty. Any extra amount paid above the monthly payment will be applied directly to the principal. Double payments can be made as well. No balloon payments are applied.
*With the Lease/Option the lease may be terminated if no payments are received for a duration of 90 days.