Here are some frequently asked questions. If you have a question that you don’t see you listed here, please contact us, we are happy to help.
Should I visit the property before buying?
Who owns the properties being sold at 727 Land Book?
How do the sellers acquire their properties?
Are the mineral rights guaranteed for the properties?
What GUARANTEES do you offer?
Are there any liens on the properties?
What kind of documents do I need to purchase?
Can I step back from a sale?
What fees do you charge in addition to the down payment/ payment in full amount?
What form of payment do you accept for the initial down payment and the monthly payments?
Can I make a larger down payment?
If I want to make a larger down payment how does this affect the loan?
Do I need to qualify for financing or how does this work?
How Long can I finance the property:
How low can I expect my monthly payment to be?
Your expected monthly payment will be in the following range: (all monthly payment amounts are calculated taking into consideration the down payment at the day of the auction) with the first number being the low (if the purchase price ends up on the low end of the range) and the second number being the maximum amount (if the purchase price reaches the high amount in that financing range)
Can I buy more than one property?
Yes, you can buy as many properties as you want.
Is there any penalty for paying off a property early?
No. You can pay off your property at any time with no pre-payment penalty whatsoever. Just call us at any time, and we will let you know your pay-off amount.
What kind of Contract will I be signing when purchasing a piece of land at your auction?
What are the benefits of buying with a Sale Agreement/Contract for deed on terms?
Once the property is paid off, what kind of Deed do you convey the property with?
When do I get the Deed to my property?
Who do I contact if I have questions about the auction or about a specific property?
How to find the property when doing my research?
Here are some helpful hints on how to find properties for sale. For each property listed on our website we have provided links to help you find the properties and determine the approximate geographical location. A link to www.maps.google.com, a link showing the topographical map of the property, a link to the aerial picture of the property location, and often a link to the County / Assessor’s Parcel Map for each property . Furthermore, these maps also list the latitude / longitude parameters for each property in case you have a GPS system available.
Here are 2 scenarios helpful in finding the properties of your choice:
1. The property has a Street address.
If this is the case finding the property is very simple. Go online to www.mapquest.com or maps.yahoo.com and enter the street name and the city/town name. If available, enter the zip code and the approximate property location will appear. You will be able to zoom in or out at your convenience until you can clearly tell where the property is located, relative to its surroundings. Once you identify the approximate location of the property you can then compare the detailed view of the property location (from www.mapquest.com)
2. If the property is in an area with no street signs.
In this case, we recommend you print out the detailed Topographical map available through the “TOPO MAP” link for each property or by purchasing a good topographical mapping software such as www.delorme.com. If possible, we also strongly recommend the use of a GPS (Global Positioning System) to help you find the property location. Basic handheld GPS systems can be purchased inexpensively at any major electronic store. Ideally, such a GPS device can be connected to a laptop or handheld device running any of the major mapping software and you will have a fully functioning multi-color interactive GPS system. In such a system, you can now enter the Latitude/Longitude measurements provided by us for each property and it should be very easy to find the exact property location. This combination is useful for very large properties that are not located in a subdivision because the plat maps do not really show much of the surroundings and it would be easy to miss the property otherwise.
Understanding the Parcel number system.
Most counties in most states have a very explicit numbering system, to identify the individual parcels and its location in the county. Those numbers in many cases also serve as identifiers for property tax collection purposes. In Arizona, the Assessor Parcel Number (also called APN) is the single most important identifier of a property. It consists of three pairs of numbers XXX-XX-XXX and sometimes also XXX-XX-XXXX (in this latter case the last number is usually a letter). The three parts of each parcel number represent the Assessor’s Book, the Page, and the Parcel. For example: parcel number 503-90-664B means that this property is mapped in the Assessor’s Book number 503, on Page 90, and it is parcel 664B on that page. In California, the numbering is similar only that there is a slight difference between the Assessor’s Parcel number and the Assessor’s Tax number (in Arizona the same number is used for both). So in order to find a property on a parcel map, just look for the last set of numbers on the parcel number and find it in the parcel map we have attached to each property listing. For your convenience, on each parcel map, we have identified the parcel to be sold at the auction, we will issue the Warranty deed within 10 business days from the day of the auction.
Looking at a plat map and/or the short legal description, how do I find out where this parcel is in relation to other parts of the County, State, or Country?
Three methods of description are used in the United States
(1) Metes and Bounds,
(2) Rectangular survey, and
(3) subdivision lot and block.
Rectangular survey system (Ranges / Townships/ Sections):
The rectangular survey system is based on two sets of intersecting lines: principal meridians and base lines. Principal meridians are north and south lines, and base lines run east and west. Both can be located exactly by reference to degrees of longitude and latitude. Each principal meridian has a name or a number and is crossed by its own base line. Each principal meridian and base line is used to survey a specific area of land.
Ranges. The land on either side of a principal meridian is divided into 6-mile wide strips by lines that run north an south, parallel to the meridian. The north-south strips of land are called ranges. They are designated by consecutive numbers east or west of the principal meridian.
Townships. Lines running east and west of the base line six miles apart are referred to as township lines and form strips of land (or tiers) called townships. These tiers of townships are designated by consecutive numbers north or south of the base line. The township squares formed by the intersecting township and range lines are the basic units of the rectangular survey system. Theoretically, townships are six miles square and contain 36 square miles.
Sections. Each township contains 36 sections. Sections are numbered consecutively, 1 through 36, with section 1 being in the upper right-hand corner of the township. Each section contains 1 square mile, or 640 acres of land, and is commonly divided into half sections (containing 320 acres), quarter section (160 acres), and further divisions of halves and quarters for reference purposes.
The E 1/2 of the NW 1/4 of Section 17, Township 14 North, Range 4 West of the 6th Principal Meridian.
In the above example, the land described would have an area of 80 acres (the NW1/4 equals 160 acres; of this equals 80 acres). Generally, the smaller a parcel of land is, the longer its legal description will be.
Subdivision Lot and Block
The third method of land description is by lot and block number in a subdivision plat. When land is subdivided by its owner, the first step is the preparation of a plat map survey by a licensed surveyor or engineer. On this plat, the land is divided into lots and blocks, and streets or access roads for public use are indicated. The lots and blocks are assigned numbers or letters.
#1. Source: Real Estate Fundamentals, 6th Edition, 2003. Gaddy Jr., Wade E., Hart, Robert E.