Answers to your questions about buying land
It's easy to buy.
Having been in the land business for over 30 years, we know that there are questions
that naturally come up.. We have tried to answer the most common questions here, but if you ever have a question - call us and ask! There's no such thing as a silly question. We want you to know everything about the land you buy.
Photo by Jim Harris
If I find a piece of land that I want to buy, can you hold on to it for me?
Yes, we can hold your land choice for seven days.
If you see a piece of property you like in the enclosed information, pick up the phone and call us toll free: 1-800-682-8088. We will take the property off the market for seven days and hold it for you. For your hold to stay in effect your earnest money must arrive
in our office within that seven day period. The next step is a credit check. Once that is done, your ownership papers will be sent by overnight courier.
Will you do a survey on the land before I buy it?
Yes. All of our land has been surveyed by a licensed surveyor. Your land's future value is based on the licensed survey, that's why we use only licensed surveyours. They mark all your corners with metal caps and metal fence posts so you can see exactly what you are buying. We will not sell land with "approximate surveys"
and you should not buy land surveyed in this manner.
Are the land taxes high?
No. Property taxes are low.
Currently you pay less than $100 per 20 acre parcel per year in Montana and
about $100 per 35 acre parcel in Wyoming. The Montana, Wyoming and New Mexico tax systems require you to pay tax in "arrears." That means each years tax is due and payable at the end of each year, not the beginning. Montana is one of the few remaining states in the nation with no sales tax. Wyoming has no state income tax.
Will our roads be maintained?
Our roads are not maintained unless they are referred to as a state highway or a county road. We rarely form property owners associations for the maintenance
of roads. You maintain your road if you wish but it is not mandatory.
Do we have to fill out a credit application?
Yes, you do have to have reasonably good credit to buy land from us on time payments.
No one likes to fill out application forms, but unfortunately it is necessary. Our form is only one page and we will be glad to assist you in filling it out the form, if you like.
Do we have to pay closing costs or title insurance?
Rocky Mountain Timberlands pays all closing costs as well as your title insurance premium.
This means all of your down payment is used toward the purchase of your property. You have no hidden or additional costs. There is no hemming and hawing about your share of the
attorney's bill or the title insurance charges. We pay it all. We have seen all kinds
of costs and charges that pass as closing costs. This is the most simple,
straight forward way and gives our customers the best value. The title insurance policy shows that the property you are buying is free and clear of liens and encumbrances at the time of your purchase.
Are there any prepayment penalties?
No. Your monthly payment check is applied to your account balance using simple interest on the unpaid balance. Extra monthly payments will be applied directly to the principle. This lowers your balance, reducing the interest you pay on your purchase. We believe our customers know when extra payments are right for them and we are pleased to offer you this choice. You will recieve a payment book soon after closing (about 4 to 6 weeks) but it may not arrive in time for your first payment. If it does not arrive, call us.
Can we recieve any discounts on buying our land through Rocky Mountain Timberlands?
- Yes. Military discounts of 2.5% are offered to all active and retired military personnel
and may be combined with the following discounts.
- 5% discount for a cash purchase.
- 2.5% discount will be given if you make a down payment of 30% or more on your
property at the time of closing.
Is a down payment required?
Yes, a 10% down payment required. Subject to credit approval
Will I be pressured to buy?
Nobody pressures you to buy.
We pride ourselves in offering quality property and feel that the property sells itself.
Our salespeople are always ready and willing to take your calls and answer your questions;
they won't call you, at what always seems like the wrong time, trying to get you to buy.
We want to assist you with any questions you may have and welcome your inquiries.