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20 wooded acres with a small building site- Owner Financing Available
$39,500 • 20.00 Acres +/-
Elkhorn City , KY • --- County
Rose Hollow Road Elkhorn City , KY 41522
Listing ID:18524
Posted Feb 28, 2023
Owner Financing Available
Welcome to Rose Hollow Road in Pike County Kentucky only 30 minutes from Pikeville
20 mostly wooded hillside acres with a small shed that has a building site that I would estimate ½-1 acre in size, Great Privacy! This property has not been surveyed and would make for a great off grid building site or recreation property. The property mostly woods. There is a water meter already on the property.
The property has blacktop road frontage on a county-maintained road.
If you want to view the property you can GPS 4265 Poor Bottom Road Elkhorn City Kentucky and then you will see Rose Hollow Road across the road from that (there is no street sign for Rose Hollow Road and I don’t think Rose Hollow will show up on your GPS device). You will see the yellow and black real estate sign on the right hand side of Rose Hollow Road.
The title work has been done and the title is clear and we will be transferring the property to you via a General Warranty Deed which is the best form of ownership.
Owner Financing Available!!!!!
Easy Terms Owner Financing with Easy approval.
If you choose to use our owner financing the terms will be as follow:
$39,500 purchase price, $500 closing cost (due at contract signing), $2,000 down payment (due at closing), 8.95% interest on 15 year term with 5/1 ARM = $379.24/month, $0 early termination penalty.
-this loan is a non-residential loan which means we will be asking you to wait until we are paid off to use the property as your primary residence-this is like this because of the way all owner financiers are regulated…this typically is not a problem because if you do use the land as your primary residence and if you get a loan for the residence (cabin, house, mobile home) that lender will require you to combing the land loan with the home loan giving you a land-home package. This regulation does not exist for any property that is 25 acres or more. This regulation of course does not exist if you pay cash for the property or get your own loan from a bank and it also will not exist after we are paid off if you use our owner financing.
You can get a lesser interest rate if you choose to do a higher down payment (inquire with sales person).
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If you have any additional questions I can be reached by email, text or telephone at 877-331-4888. Ask for Dwight
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