Cancellation Policy

“Reserve Now” Reservation Fee

The Reservation Fee is credited toward the final purchase price of your new land at Closing.

However, the Reservation Fee is NOT FULLY REFUNDABLE. It should not be used to “hold” the property while you do your due diligence.

If you choose to cancel your reservation for any reason prior to signing the Purchase Agreement (which we will send you after we receive your reservation fee), we will process a refund of 50% of your deposit amount. If you fail to sign the Purchase Agreement within the timeframe specified on the Agreement (normally 72 hours from the time we send you the Purchase Agreement), we reserve the right to process a refund of 50% of your reservation fee amount. If you are in willful breach of our Agreement after you sign it, you will not receive any of your reservation fee as a refund, and we will retain 100% of the fee amount.

Therefore, we strongly urge you to only reserve a property once you have completed your due-diligence and are sure that you have the finances and circumstances (legal, physical, or otherwise) to be able to buy the property.

If you need financing from a bank or other lender in order to complete the purchase of the land you are wanting to buy, again, we urge you to arrange your financing and obtain a pre-approval letter from said lender prior to reserving a property on our website, since you may lose all or some of your reservation fee (as described above) in the case where your financing falls through, or if you need to back out of the purchase for any other reason.

If you have unanswered questions about the property or our process, please reach out to us, or the relevant parties BEFORE you place your reservation on our website.

The Reservation Fee will only be refunded in full if we – Tierra Land Company – are unable to fulfill the terms outlined for the “Seller” in our Purchase Agreement. We also reserve the right to cancel your reservation for any reason prior to execution of the Purchase Agreement, and in that instance we will fully refund your Reservation Fee.

Additionally, please note: Any refunded amount will not be charged back to your credit/debit card, but will instead be mailed to you by company check, a process which can take 7-10 business days.

By reserving a property on our website, you will be checking the box to indicate that you have read this cancellation policy, you accept these terms, and you will abide by them.

Property Returns

Cash Sales

Once we have transferred ownership of a property to your name at Closing, and have paid in full for the property, we consider the sale final. We do not refund land purchases. If you decide after Closing that you are not happy with your land purchase, we recommend speaking to a real estate agent who can help you sell the property yourself.

Seller Financed Sales

Land Contract: In line with the terms of your land contract, failure to pay the monthly installments will result in the forfeiture of any future claim to ownership of the property, and forfeiture of all installment payments made to date. In harmony with state law, we will then begin the eviction process.

Deed & Promissory Note: In line with the terms of your promissory note, failure to pay the monthly installments will prompt us to begin the foreclosure process as outlined in state law, to reclaim our ownership of the unpaid asset.C