Frequently Asked Questions
If I decide to purchase the property, how does it work?
The process is simple! Once you have contacted us after selecting a property, let us know if you would like to pay in full or if you would like to pay by monthly installments. If you would like to pay in full, the property is immediately transferred to your name via warranty deed. If you chose to pay by monthly installments, you simply pay the down payment to Reese Investment Properties, Inc. by check, credit card, or direct deposit and then pick one of the payment plans we offer. Your first installment payment is due 30 days after the down payment is made. We draft a Land Contract, outlining the terms of the purchase, which we send your way via Priority Mail. The packet you receive will contain two copies of the contract, a variety of maps of your property, a payment schedule, and a prepaid mailer to mail one signed copy of the contract back to our office. You keep one signed contract for your records and mail one signed contract back to Nevada Investment Land. Once you are paid in full, we send the paperwork to the appropriate county to have the land transferred to your name. The county recorder will then send you a recorded copy of a warranty deed in your name and you will officially own a piece of Nevada!
Can I have more than one name/person listed on the contract?
Yes! You can have as many people as you like listed on the contract. The Contract can also be made in the name of a trust, corporation or LLC.
What forms of payment do you accept for the down payment and monthly payments?
We accept a variety of payment methods. You can mail us a personal check, cashier’s check or money order. We also accept Master Card, Visa & Discover. If you prefer to pay by Google Wallet, Bill Pay, direct deposit, or wire transfer, we can get you the information you need to make that happen, as well.
Question: If I finance the property, to whom do I make payments?
Your payments will be made to:
Reese Investment Properties, Inc
4743 East Colley Road
Beloit, WI 53511
We have our own in house financing available with NO interest, NO qualifying & NO credit check.
Is there a penalty if I pay off early?
No! There is no prepayment penalty. In fact, if you payoff early, we give a 10% discount off the remaining balance at the time of payoff.
What type of deed is recorded once the land is paid off?
The deed will be a Warranty Deed, the strongest and safest of deeds.
Are there any back taxes or liens on the property?
The taxes are paid current and there are no back taxes or liens on any of the properties sold by Nevada Investment Land. The land is free & clear of any encumbrances.
When are the property taxes due?
In Nevada, land owners pay property taxes in advance for the upcoming year. Tax bills come out annually in July and must be paid by mid August. The tax year runs from July 1st to June 30th. For example, the tax bills that we receive in July of 2021 will cover the property taxes from July 1st, 2020 through June 30th, 2021.
Are there any HOA fees or any other costs aside from the yearly property taxes?
There are no HOA fees or ANY other costs, other than the yearly property taxes, unless clearly outlined in the sale. There are a few subdivision lots in Nevada that have HOA Fees that are usually designated for road maintenance. Whenever this is the case, Nevada Investment Land is sure to clearly outline the amounts and due dates for the buyer before anything is signed.
May I use the land while I am making payments?
Yes! You have full use of the land during the entire contract period.
Do I have water rights?
Yes! This property comes with rights to drill a well and you can take up to 1,800 gallons of water a day. The average family of four uses 125-150 gallons a day, so 1,800 gallons is a great deal of water. Plenty for a family, garden, horses and even a pool!
How is water obtained?
Water in this area is obtained via well.
How deep is the usual well depth?
Well depths vary, but the typical depth is 80-150 feet.
What is the cost to drill a well?
Well drilling runs around $35.00-$40.00 per foot.
Is there sewer service or do I need a septic tank?
Sewage would be via septic tank.
How is the property zoned?
The property is zoned: M3 Open Land Use (this is the most wide open type of zoning) Current Land Use Code: 120 Single Family Homes are allowed. (No apartment buildings or condos) However, all types of homes are allowed, including: prefabs, earth ships, mobile homes and standard built homes. All types of animals are allowed. You can raise cattle, have horses, chickens, goats, basically any kind of animal other than exotics.
Is there a time limit to build?
No. There is no time limit to build and no maintenance required. The property can sit vacant as long as you like. The land is sage and wild grasses. There is no upkeep needed.
What improvements have been made to the property?
None. Unless otherwise indicated, this is a vacant property. It has not been fenced. There are no homes or buildings on the property and the land is free and clear of trash. This is a pristine piece of land.