I just bought 40 acres NW of Holbrook AZ.

[Bobjr59]

Hello to all I just bought 40 acres NW of Holbrook AZ. that I'm going to try and set up as a Boon docking camp so please tell me your thoughts on my plan ?

 

[BradKW]

I'm curious how much acreage costs out there? In the one pic it looks like there's a power line, so will you be able to have power? What would your options for water be?

 

[Bobjr59]

Land is priced just right I bought mine for The full purchase price is only $14,400 (Only $360/acre!) with 120.00 down and 120.00 a month
I hope the information below provides all the info you were asking for.

APN: 104-37-018
SIZE: 40 Acres±
COUNTY: Navajo
CLOSEST CITY: Holbrook
STATE: AZ
ZIP CODE: 86025
LEGAL DESCRIPTION: The Northeast Quarter of the Southeast Quarter of Section 29, Township 20 North, Range 19 East of the Gila and Salt River Base and Meridian, Navajo County, Arizona.
CONVEYANCE DOCUMENT: Special Warranty Deed
PROPERTY TAX: Approximately $42/year. (completely up to date)
ASSOCIATION DUES: 0
POWER: In the area but not to the lot line (solar, wind or alternative system)
WATER: N/A (well or alternative system)
SEWER: N/A (septic or alternative system)
PHONE: Mobile or Satellite
ROADS: Dirt
TIME TO BUILD: There is no time limit to build.
ZONING: A-General (see county for details)
GPS COORDINATES: Lat/Lng --> 35.10295, -110.34382
GENERAL LOCATION: ~14mi North of Holbrook, AZ
GENERAL ELEVATION: 5100'
TYPE OF TERRAIN: Flat to rolling with beautiful views
PROPERTY PLAT MAP: Yes, see above.
TOPOGRAPHICAL MAPS: Yes, see above.
PROPERTY AREA PHOTOS: Yes, see above.

 

[Canine]

Congratulations on becoming a landowner.Do you have any plans yet?

 

[Bobjr59]

I originally bought to set up a Boon docking camp for Veterans and Van-dwellers and just charge a small monthly maintenance fee for the up keep and trash removal

 

[highdesertranger]

very cool, keep us updated. highdesertranger

 

[akrvbob]

Does it have cell and data for internet?
Bob

 

[ZoNiE]

Good luck on a well. It's gonna have to be deeeeeep.
My Inlaws have 40 acres out that way. Truck in the water.

 

[gcal]

Congratulations.  Hope everything works out your way.

 

[billybob200138]

Hi, congratulations on your land purchase. I would like to hear more about it. Seasonal changes,hot,cold. Sounds like a plan. I'm interested. HoboJoe

 

[rvpopeye]

5100' sounds (and looks) like a great place for spring and fall camping.
You might get lucky on water but bring in what you'll need would be a good idea until you find some!
I don't know if you would be better off asking if that would be an allowed use or stick with don't ask , don't tell...

 

[MikeRuth]

I'd support the don't ask don't tell option,Keep the government in the DARK.

 

[SoulRaven]

On another website I frequent, in a post from 2009, a septic system was running about $8,000 and a driving a well about $24,000 plus. When we were living in AZ, we found just one acre away from everything and the cost for well at that time, probably 20 years ago was running $18,000. Many families in the area that didn't have a public water supply hauled water in which you could buy at a metered spigot in the city. There were 400 households that hauled water on our side of the area. I guess if you grew up with that, it wouldn't be a big deal or if it were just for one and not a family.

 

[WheelEstate USA]

Water hauling is pretty common in this part of the country.

 

[Bobjr59]

I just received the contract and I may be wrong but it doesn't feel kosher but tell m what you think does it sound kosher to you ?
this is totally different from my other properties .  

CONTRACT FOR DEED​

This DAY this agreement is entered into by and between __________, herein referred to as “SELLER”, whether one or more, and Robert Edward Kirby Jr., herein referred to as “PURCHASER”, whether one or more, on the terms of conditions and for the purposes hereinafter set forth:

1. 
   SALE OF PROPERTY

For and in consideration of TEN DOLLARS ($10.00) and other good and valuable considerations the receipt and sufficiency of which is hereby acknowledged, Seller does hereby agree to convey, sell, assign, transfer and set over unto Purchaser, the following property situated in Navajo County, State of Arizona, said property being described as follows:
The Northeast Quarter of the Southeast Quarter of Section 29, Township 20 North, Range 19 East of the Gila and Salt River Base and Meridian, Navajo County, Arizona.
Parcel 104-37-018


Together with all rights of ownership associated with the property, including, but not limited to, all easements and rights benefiting the premises, whether or not such easements and rights are of record, and all tenements, hereditaments, improvements and appurtenances, including all lighting fixtures, plumbing fixtures, shades, venetian blinds, curtain rods, storm windows, storm doors, screens, awnings, if any, now on the premises.
SUBJECT TO all recorded easements, rights-of-way, conditions, encumbrances and limitations and to all applicable building and use restrictions, zoning laws and ordinances, if any, affecting the property.

1. 
   PURCHASE PRICE AND TERMS

The purchase price of the property shall be fourteen thousand four hundred and zero dollars ($14,400.00). The purchaser does hereby agree to pay to the order of the Seller the sum of one hundred twenty dollars and zero cents ($120.00) upon execution of this agreement, with the balance of fourteen thousand two hundred eighty dollars and zero cents ($14,280.00) being due and payable as follows:
Balance payable, together with interest on the whole sum that shall be from time to time unpaid at the rate of 0 per cent, per annum, payable in the amount of one hundred twenty and zero ($120.00) US Dollars beginning on the 1st day of May, 2016, and continuing on the same day of each month thereafter until the 1st day of April, 2026, when all remaining principal and interest shall be paid. Purchaser agrees to pay all Paypal or other money transfer service costs associated with the transfer of money into Sellers account if such service is used.


Interest shall be computed monthly and deducted from payment and the balance of payment shall be applied on principal.

1. 
   TIME IS OF THE ESSENCE

Time is of the essence in the performance of each and every term and provision in this agreement by Purchaser.

1. 
   SECURITY

This contract shall stand as security of the payment of the obligations of Purchaser.

1. 
   MAINTENANCE OF IMPROVEMENTS

All improvements on the property, including, but not limited to, buildings, trees or other improvements now on the premises, or hereafter made or placed thereon, shall be a part of the security for the performance of this contract and shall not be removed therefrom. Purchaser shall not commit, or suffer and other person to commit, any waste or damage to said premises or the appurtenances and shall keep the premises and all improvements in as good condition as they are now.

1. 
   CONDITION OF IMPROVEMENTS

Purchaser agrees that the Seller has not made, nor makes any representations or warranties as to the condition of the premises, the condition of the buildings, appurtenances and fixtures locate thereon, and/or the location of the boundaries. Purchaser accepts the property in its “as-is” condition without warranty of any kind.

1. 
   POSSESSION OF PROPERTY

Purchaser shall take possession of the property and all improvements thereon upon execution of this contract and shall continue in the peaceful enjoyment of the property so long as all payments due under the terms of this contract are timely made. Purchaser agrees to keep the property in a good state of repair and in the event of termination of this contract; Purchaser agrees to return the property to Seller in substantially the same condition as it now exists, ordinary wear and tear excepted. Seller reserves the right to inspect the property at any time with or without notice to Purchaser.

1. 
   TAXES, INSURANCE AND ASSESSMENTS

Taxes and Assessments: During the term of this contract:
Seller shall pay all taxes and assessments levied against the property. Purchaser shall reimburse Seller for same upon 30 days notice to purchaser.


Should the Purchaser fail to pay any tax or assessment, when due, Seller may pay the same and the amounts thus expended shall be a lien on said premises and may be added to the balance then unpaid, or collected by Seller, in the discretion of Seller with interest until paid at the rate of the 16 per cent per annum.

1. 
   DEFAULT

If the Purchaser shall fail to perform any of the covenants or conditions contained in this contract on or before the date on which performance is required, the Seller shall give Purchaser notice of default or performance, stating the purchaser is allowed fourteen (14) days from the date of the Notice to cure the default or performance. In the event the default or failure of performance is not cured within the 14 day time period, then Seller shall have any of the following remedies, in the discretion of Seller:

1. Give the Purchaser a written notice specifying the failure to cure the default and informing the Purchaser that if the default continues for a period of an additional fifteen (15) days after service of the notice of failure to cure, that without further notice, this contract shall stand cancelled and Seller may regain possession of the property as provided herein; or
2. Give the Purchaser a written notice specifying the failure to cure the default and informing the Purchaser that if the default continues for a period of an additional fifteen (15) days after service of the notice of failure, that without further notice, the entire principal balance and unpaid interest shall be immediately due and payable and Seller may take appropriate action against Purchaser for collection of same according to the laws of the State of Arizona.

In the event of default in any of the terms and conditions or installments due and payable under the terms of this contract and Seller elects 9(a), Seller shall be entitled to immediate possession of the property.
In the event of default and termination of the contract by Seller, Purchaser shall forfeit any and all payments made under the terms of this contract including taxes and assessments as liquidated damages, Seller shall be entitled to recover such other damages as they may be due which are caused by the acts or negligence of Purchaser.
The parties expressly agree that in the event of default not cured by the Purchaser and termination of this agreement, and Purchaser fails to vacate the premises, Seller shall have the right to obtain possession by appropriate court action.

10. DEED AND EVIDENCE OF TITLE​

Upon total payment of the purchase price and any and all late charges, and other amounts due Seller, Seller agrees to deliver to Purchaser a Special Warranty Deed to the subject property, at Seller’s expense, free and clear of any liens or encumbrances other than taxes and assessments for the current year.

11. NOTICES​

All notices required hereunder shall be deemed to have been made when deposited in the U.S. Mail, postage prepaid, certified requested, to the Purchaser or Seller at the addresses listed below. All notices required hereunder may be sent to:
Seller:
___________
Purchaser:
Robert Edward Kirby Jr.
620 4th Street ________________
Ramona Oklahoma 74061 __ _______
And when mailed, postage prepaid, to said address, shall be hiding and conclusively presumed to be served upon said parties respectively.

12. ASSIGNMENT OR SALE​

Purchaser shall not sell, assign, transfer or convey any interest in the subject property or this agreement, without first securing the written consent of the seller.

13. PREPAYMENT​

Purchaser to have the right to prepay, without penalty, the whole or any part of the balance remaining unpaid on this contract at any time before the due date.

14. ATTORNEY FEES​

In the event of default, Purchaser shall pay to Seller, Seller’s reasonable and actual attorneys’ fees and expenses incurred by Seller in enforcement of any rights of Seller. All attorney fees shall be payable prior to Purchaser’s being deemed to have corrected any such default.

15. LATE PAYMENT CHARGES​

If Purchaser shall fail to pay, within fifteen (15) days after due date, any installment due hereunder, Purchaser shall be required to pay an additional charge of five (5%) percent of the late installment. Such charge shall be paid to Seller at the time of payment of the past due installment.

16. CONVEYANCE BY SELLER​

The seller reserves the right to convey, his or her interest in the above described land and such conveyance hereof shall not be a cause for rescission but such conveyance shall be subject to the terms of this agreement.

17. ENTIRE AGREEMENT​

This Agreement embodies and constitutes the entire understanding between the parties with respect to the transactions contemplated herein. All prior or contemporaneous agreements, understandings, representations, oral or written, are merged into this Agreement.

18. AMENDMENT – WAIVERS​

The Agreement shall not be modified, or amended except by and instrument in writing signed by all parties.
No delay or failure on the part of any party hereto in exercising and right, power or privilege under this Agreement or under any other documents furnished in connection with or pursuant to this Agreement shall impair any such right, power or privilege, or be construed as a waiver of any default or any acquiescence therein. No single or partial exercise of any such right, power or privilege shall preclude the further exercise of such right, power or privilege, or the exercise of any other right, power or privilege. No waiver shall be valid against any party hereto unless made in writing and signed by the party against whom enforcement of such waiver is sought and then only to the extent expressly specified therein.

19. SEVERABILITY​

If any one or more of the provisions contained in this Agreement shall be held illegal or unenforceable by a court, no other provisions shall be affected by this holding. The parties intend that in the event that one or more provisions of this Agreement are declared invalid or unenforceable, the remaining provisions shall remain enforceable and this agreement shall be interpreted by a Court in favor of survival of all remaining provisions.

20. HEADINGS​

Section headings contained in this Agreement are inserted for convenience of reference only and shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

21. PRONOUNS​

All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular, or plural, as the identity of the person or entity may require. As used in this Agreement: (1) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender, (2) words in the singular shall mean and include the plural and vice versa, and (3) the word “may” gives sole discretion without any obligation to take any action.

22. JOINT AND SEVERAL LIABILITY​

All Purchasers, if more than one, covenants and agrees that their obligations and liability shall be joint and several.

23. PURCHASER’S RIGHT TO REINSTATE AFTER ACCELERATION​

If Purchaser defaults and the loan is accelerated, then Purchaser shall have the right of reinstatement as allowed under the laws of Arizona, provided that Purchaser: (a) pays Lender all sums which then would be due under this agreement as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; and (c) pays all expenses incurred in enforcing this agreement, including, but not limited to, reasonable attorney’s fees, and other fees incurred for the purpose of protecting Seller’s interest in the Property and rights under this agreement. Seller may require that Purchaser pay such reinstatement sums and expenses in one or more of the following forms, as selected by Seller; (a) cash, (b) money order, (c) certified check, bank check, treasurer’s check or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity or (d) Electronic Funds Transfer. Upon reinstatement by Purchaser, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred.

24. HEIRS AND ASSIGNS​

This contract shall be binding upon and to the benefit of the heirs, administrators, executors, and assigns of the parties hereto. However, nothing herein shall authorize a transfer in violation of paragraph (12).

WITNESS THE SIGNATURES​

SELLER:
____________________________

STATE OF ARIZONA
COUNTY OF MARICOPA


The foregoing instrument was acknowledged before me this ___ day of ________________, 20___, by 
Notary Public: __________________________
My commission expires: __________________
Purchaser(s):
________________________________________________
STATE OF _____________
COUNTY OF ________________


The foregoing instrument was acknowledged before me this ___ day of ________________, 20___, by Robert Edward Kirby Jr..
Notary Public: __________________________
My commission expires: __________________

 

[BradKW]

Well, the new "font bug" made that difficult to read, even moreso having to parse legalese.

That said, it appears to be a pretty basic "owner financing" contract, some of which isn't even applicable since it's an unimproved property.

And THAT said, here's the clause that benefits many an unscrupulous owner-financier:

"In the event of default in any of the terms and conditions or installments due and payable under the terms of this contract and Seller elects 9(a), Seller shall be entitled to immediate possession of the property.
[In the event of default and termination of the contract by Seller, Purchaser shall forfeit any and all payments made under the terms of this contract including taxes and assessments as liquidated damages."

I've seen this used to take repossession of the same house multiple times. In essence, the seller will collect a large down payment from the person responding to a "Rent-to-Own!" sign, and in short order find the new "tenent" in violation or default of a "term or condition", evict, wash-rinse-repeat.

IMO, a legit contract would address the buyer's initial and ongoing equity. As I read the above contract, say in 5 years you paid 90% of the price but the owner managed to find you default in any of the terms and conditions or installments, he could legally take the property back and you get nothing. I'd say if you could redress that clause, there's nothing wrong with the rest of the contract. Probably worth having a real estate lawyer give you their 2 cents...

 

[Bobjr59]

Number 1 Question would it be worth keeping or do I just cut my losses and walk away ?

 

[BC Guy]

I am guessing the you have not looked at the property. It is impossible to evaluate it without doing so. I have found that when I am interested in buying property, most public notaries and lawyers will say not to buy it if you have not seen it. I only did so once and I regretted it.

 

[StarEcho]

"Seller reserves the right to inspect the property at any time with or without notice to Purchaser."   Add that to what Brad pointed out and that means you are not buying property, you are renting to own.  I'd walk away from this if you can't change this contract.

 

[skyl4rk]

It looks like a land contract with 0% interest. If you feel the sale price was reasonable it may be a good deal.