2nd Forfeited Land Sale of 2009 from the Texas VLB

It’s that time again, the information thousands have been waiting for and dozens have already been searching for judging from my analytics. The second sale of 2009 for forfeited tracts of land from Texas Veterans Land Board. On Tuesday, October 27, 2009, once again forfeited land tracts will be made available to eligible Texas Veterans in a sealed-bid sale.

There are some new guidelines and information different than previous land sales as written about here.

What’s New:

• All winning bids will be originated as a mortgage loan with a Note and Deed of Trust. Winning bidders must meet VLB credit requirements if obtaining VLB financing.
• Closing costs and a down payment of at least 5% of the minimum bid listed will be required at closing. The VLB can only finance 95% of the minimum bid listed up to $80,000.00. In addition, any amount you bid over the minimum listed must be paid at closing, if you are obtaining VLB financing.

Please note:

• ALL BIDS must be received by 4:30 p.m. on Monday, October 26, 2009 (the day before the sale). No walk-in bids will be accepted on the day of the sale.
• There is a limit on the number of bids you may submit. You may bid on a total of six tracts in the Forfeited Land Sale and you must list your choice preferences on each bid.
• The sale will be available for viewing via webcast. Live viewing is not guaranteed, as we have a limited number of connections. The webcast will be archived and available on our Web site approximately 24 hours after the sale.

For complete information and instructions, see Forfeited Land Tracts or call toll free: 1-800-252-VETS (8387). Naturally, feel free to contact me for any of your real estate needs in Denton County or for referrals to other experienced agents anywhere in Texas.

Related posts:

1. Texas Veterans Land Board (VLB) Forfeited Land Sale April 28, 2009 Being a Realtor registered by the Texas VLB to assist veterans with using the benefits offered to them for land and housing loans, provides me with some email fodder than...
2. USDA and Texas Veterans Land Board 2010 Update The #2 and #3 most visited pages here at My Denton County Real Estate are the articles that have made me the authoritative REALTOR in North Texas for USDA Rural...
3. $8000 Tax Credit used as Down Payment in Texas Coming Soon This is a question I have noticed entered on searches for some incoming traffic here at My Denton County Real Estate, and have been asked about more than once. I...
4. Texas Veterans Land Board – Strong in Service, Support, and Cooperation The following is a question that was posted by John on Buying a Home with the Texas Veterans Land Board Program (TVLB) and by the time I was done writing,...

All Rights Reserved© Jay Myers (972) 510-7800 Licensed Real Estate Agent in Texas

Subscribe to My Denton County Real Estate's Feed