Frequently Asked Questions
Q. What is a Warranty Deed?
A. A deed in which the grantor warrants, or guarantees, the title against defects.
Q. Is the Winning Bid the total price or a down payment?
A. Please see the contents of the auction.
Q. Is a Winning Bid a commitment to buy?
A. Yes. If you are bidding on the property, we understand that you are purchasing it and have done your due diligence. We take bidders very seriously and report non-paying bidders to auction host sites. Reporting a non-paying bidder often banishes that bidder from the website.
Q. What is due diligence?
A. Due diligence is the research you, as the buyer, complete prior to making a bid. This includes questions to the County, or to Classic Country Land, LLC, or a land site visit . We strongly encourage you to feel satisfied about your knowledge of the property PRIOR to bidding.
Q. What is the property zoned?
A. Most properties owned by Classic Country Land, LLC Equity allow zoned residential. Some rural properties do not have any zoning at all. We strongly suggest to check with the county for zoning status.
Q. Are there time limitations to build?
A. Unless specified in the posting, there are no time limits in which an owner must build on the property.
Q. Are the mineral rights included with the property?
A. Here in the southwest, chances are the mineral rights are owned by the Government or the Railroad entities. This right was granted to these companies for building a bi-coastal railway system in the 1800’s. Information about purchasing the rights can be obtained by calling the County in which the property is located.
Q. Is someone available to help me locate the property?
A. We purchase property in bulk from many different sources. We do not offer this service due to the fact that it would add to our costs and therefore add to the sale price of the property. We go to great lengths to provide accurate information in our postings regarding the location of the land.
Q. Is the property staked or surveyed?
A. Most of the properties have been surveyed in the past but probably do not still have the corners marked. Classic Country Land, LLC normally does not incur the cost of a new survey so we can pass the savings to our customers. If Classic Country Land, LLC has surveyed the property this will be noted in the auction listing.
Q. Do you have any actual pictures of the property?
A. If we have actual pictures of the property this will be noted in the auction copy. Many times we have pictures of the area but because the purchase was a bulk buy we have not visited and photographed the particular parcel being sold.
Q. What is a Bid and Assume?
A. We offer financing on some of our properties and this is called Bid and Assume auctions. With this type of auction, the bidding is for the Down payment only and you are assuming the balance amount as stated on the auction page. The winning amount or down payment does not get subtracted from the balance loan amount.
Q. Who owns the properties being sold at auction?
A. All Properties are owned by Classic Country Land, LLC and its owners unless otherwise noted.
Q. Are there any liens on the properties?
A. Most properties offered for sale on this website have no liens against them, but a few have financial liens against them at the time they are offered for sale. However, when the property is deeded to the purchaser, any such lien is paid off prior to deeding so the buyer receives free and clear title with no liens.
Q. Should buyers personally inspect property before making a bid?
A. Yes, prior to placing a bid, every buyers should inspect each property and perform all of their due diligence.
Q. How can buyers find out more information about the lots they wish to purchase?
A. We always encourage buyers to call the county or state agency in which the property is located.
Q. If I’m the winning bidder, what’s next?
A. After the auction has closed, you will be emailed payment instructions and information for ownership transfer. It is your responsibility as a buyer to provide us in a timely manner this information. As soon as we receive your payment and ownership transfer information, we will begin processing your paperwork, it takes approx. 72 hours to have your paperwork in the mail to you.
Q. How long do I have to pay for my property?
A. We allow 3 days from the date the auction has closed.
Q. What forms of payment do you accept?
A. Bank Deposits, Bank Wires, Cashiers Checks, Credit Cards & Debit Cards. Please include the auction # with all payments.
Q. How do I pay for my property?
A. Please visit the Make Payment section of our website.
Q. How long does it take to get my paperwork and to be the official owner?
A. We mail the paperwork within 72 hours of receipt of payment and ownership transfer information. Once you receive the paperwork you are the owner. You will still need to record the deed. We will provide you instructions for doing so.
Q. What if there is a problem such as the paperwork or deed gets lost?
A. We guarantee each piece of property that we sell. We will do whatever is necessary to insure a perfect transaction for you.
Q. What if I want to finance a property?
A. We finance only selected properties. If financing is provided it will be outlined in the auction copy. Note: We charge a nominal $8 a month loan servicing fee on all contracts; this fee can be waived if buyer elects easy monthly ACH payments.
Q. Who qualifies for financing?
A. Everyone! We don’t even do a credit check. If you have A+ credit or no credit we don’t discriminate. We’ll finance anyone. Note: Many people with a bad credit rating use us as a stepping-stone to a good credit rating.
Q. How do I pay my monthly payment?
A. Please visit the Make Payment section of our website.
Q. What is the Reserve price?
A. The Reserve price is the price we’re willing to sell the property or item. We cannot disclose the Reserve price while the auction is still open however, if you’re interested to make an offer after the auction has closed and the Reserve price was not met, email us at Sales@ClassicCountryLand.com.
Q. What do you do with my document processing fee?
A. The document processing fee takes care of the paperwork: Deeds, contracts, etc. and shipping and handling.
Q. Where are you located?
A. Our office is located in Allen, Texas.
Q. Can I buy from you even if I live in a foreign country?
A. Yes. We have sold many properties to foreign nationals. We have customers from United Kingdom, Germany, Canada and as far as Korea.