134 & 179 Malcolm Ln, Rocky Mount, NC 27801
134 & 179 Malcolm Ln, Rocky Mount, NC 27801
REALTORS WELCOME!
Ready for private country living but within city limits of Rocky Mount and just 1 hour from Raleigh? 134 and 179 Malcolm Ln may be just what you are looking for! These two side by side lots off ample space for your new home (manufactured or stick built okay). 134 has an existing small brick home on site, which can be rennovated and sold or rented. 179 is a vacant parcel with existing utilities on site from a previous mobile home. Both parcels combine to make over 6 spacious acres. The barn on site also conveys. Land and properties sold as-is, please do your own due diligence. Zoned A1 per City of Rocky Mount. We did a development review meeting with the City of Rocky Mount as well and will provide/disclose all additional information, just reach out with any questions!
For more details contact:
Michael Agins
919-307-6292
MichaelAgins@outlook.com
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Price: $210,000
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Down Payment: $20,000
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Estimated Monthly Payment: $1,700/mo
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Income Requirement: $6,500/mo Gross Household Income
More Information
- 2 lots, side by side, totaling just over 6 acres.
- Access to both lots through private drive, Malcolm Ln, off Vestal Rd.
- Observed: Utility access for power, water on site. Existing well on site. Existing septic on site.
- All buildings on site convey & transfer to new owner!
- Zoning is A-1. Mobile homes allowed on permanent foundation!
- Utiliites: City water or well & septic.
- HOA: None
- We are selling this home on our Rent To Own Program for the 1st twelve months. You will receive 100% of your rent payments toward the purchase price for the 1st year! After the 1st year, we will provide you with traditional seller financing and up to a 30 year fixed mortgage. No bank required!
Frequently Asked Questions
How do I qualify? Do you look at credit score?We mainly look at your household income & your down payment. We reserve the right to pull and review credit but it is not the most important factor, and having a credit score is not a requirement. We want to see that you have enough household income to comfortably afford the home.
Once I own the home, can I make changes to it?Yes, it is your home! You can make any improvements or modifications to the home as you see fit.
How do taxes & insurance work?Most loans are typically ‘escrowed’, meaning, you’ll pay a part of your homeowners insurance & taxes each month with your mortgage payment. As a result, you won’t have a big tax or insurance bill due at the end of the year.
Will my monthly payment ever change?Your monthly payment is made up of 5 items typically: Principal, Interest, Taxes, Insurance, Servicing Fee. The principal & interest portion will never change. Taxes may change if the city or county changes the tax rate over the years. Insurance may change from year to year as the home gets older or you make updates to it (such as new roof, etc.). Insurance is the biggest variable typically and you are able to shop around for the best price and change policies at any time. The Servicing Fee will is subject to change if the servicing company changes their fees.
How does the pricing & interest rates compare to the market?Generally speaking, we are providing a pathway to homeownership to home buyers that wouldn’t otherwise have one. We always tell prospective clients that if they can get a bank loan, that is going to be their least expensive option. However, because we take on some risks with this type of transaction, we will typically charge a moderate premium on the mortgage interest rate as well as the sales price of the home (versus if you were paying cash for the property we are selling).
Are there any reasons I should not purchase an Owner Finance home?If you feel you cannot comfortably afford the monthly payments, this is not a good option for you.
What happens if I miss payments or default on the mortgage?The most important thing is communication. Even if you are late or have a missed payment, it is best for you to reach out to us or the loan servicing company as soon as possible to discuss any potential options. We will often try to work with you so you can stay in and keep the home. As a last result, we reserve the right to foreclose on the property, but this is only after all other options are exhausted.
**Disclaimer **
We make no representations or disclosures about the property. Often times, we have not owned the property very long and do not have much information on it. We have not hired a licensed inspector to assess the property. It is important to do your own due diligence and utilize any 3rd party professionals you wish to determine if the home is right for you & you are clear on the condition of the property. Should we have any reports on the property, we will provide them to you up front. You must complete your due diligence BEFORE entering into a legally binding contract with us and placing your deposit. One or more members of our team are licensed real estate agents, however, we represent you in no capacity. Any and all disclosures shall be provided if the Seller is a licensed Realtor. Should you desire representation, it is advised that you retain your own Realtor or other representative of your choosing. Homes are sold as-is we are not licensed mortgage broker/lenders in the state of North Carolina.
Sample Documents
These sample documents are solely for informational purposes. Actual purchase documents may vary from transaction to transaction.
Buyer Purchase and Loan Process Loan Application Offer to Purchase and Contract Seller Financing Terms Addendum