Here you will find a list of Frequently Asked Questions. Simply click the question and the answer will appear below the question. If you have any questions that are not covered here, then please
contact us.
1. How may I purchase one of these quality properties?
We have a very easy, No-hassle, process to purchasing our properties. After you select a property we would take the property off of the market with your deposit and a signed offer and acceptance. After this we put together a complete package that includes your agreement, payment coupon book, legal descriptions, and property service directory so you can get started right away.
2. How may I inspect this land?
Please call us today to set up your "no pressure" tour of the properties you are interested in. Our staff takes the time to find the right property for you.
3. How may I finance my land purchase?
On a Real Estate Contract with the present owner. The Contract is fully-assumable. During the term of the contract you will make payments to the owner. Upon satisfaction of your obligation, a deed will also be recorded in your name.
4. What are the finance charges?
The rates fluctuate with the cost of the prime rate. Please call for the current rate.
Terms listed provide for complete repayment in approximately 20 years. However, you may save interest and shorten the payment term by voluntarily making larger payments (or completely prepaying) at any time. Monthly payments may be reduced by making a larger down payment.
5. May I pay cash?
Yes. Additionally, you may pay your balance off at any time without penalty.
6. How can I be assured that the title is good?
You may purchase the property for cash or we will provide owner financing. In the case of a cash sale the property is immediately deeded to the buyer at closing. If the buyer is purchasing the land with owner financing it will be deeded to the buyer at the time the loan is paid off. We purchase title insurance on each property that we buy and it is fully inspected to ensure that we can pass clean title to our buyers.
7. Are there roadway and utility easements?
Yes. Combined roadway and utility easements (total 30 ft to 50 ft. wide) are reserved from one side of all parcels. Corner properties have such easements on two sides. Some parcels also have utility only easements (8 to 15 ft wide) reserved from interior property lines. Maps included on the detailed "Tour Properties" web pages show actual dimensions (including easements) rounded to the nearest foot. Survey plats are provided to all purchasers.
8. What closing costs do I pay?
With a land sale the closing costs are minimal. In most cases we have already paid to have the property surveyed, and we split the recording fees with the buyer at closing. We encourage our buyers to purchase title insurance once they pay off.
9. What are property tax rates?
This varies somewhat, but averages approximately 0.75% of the full value. For example, annual taxes on land valued at $10,000 would be about $75.*
* Additional improvements add to the value of the property.
10. Am I required to improve my land?
11. What other costs should I expect if I improve my land?
Most of Mariposa's properties have city water, however, for those properties that don't you will need a good quality water well which will cost about $1,900 to $3,600 (gravel-packed 5" diameter PVC casing). A pump, motor and pressure system will cost about $1500 to $1800 installed. Please note that (unless otherwise stated) lands offered with wells do not include these items.
For properties with city water you will need to contact the utility company for their connection costs and for them to place a water meter. This cost varies between $150 and $1000.
A 100 foot gravel driveway and culvert should cost about $500 to $900.
Septic systems cost about $1900 to $2500 complete.
A 100 AMP electrical meter loop costs about $400 to $500 installed.
New telephone line installations cost about $30 to $150, depending on location. Monthly service costs about $20. Cell phone service is available in all locations.
12. Does zoning permit a mobile or modular home?
Yes, unless otherwise noted and restricted. In most of our developments we require the home be no older than 5 years from the time it is placed on the property.
13. May I build my own home?
Yes, provided you obtain a permit and comply with applicable building codes.
14. May I live on the land while I'm building?
Yes, but you must provide a means of disposing of sewage in a sanitary manner. Typically this requires a well and septic system, which are required before electrical service can be obtained.