TEXAS VETERANS LAND BOARD FORFEITED LAND SALE

Created Tuesday, 01 September 2009 01:28

~TEXAS VETERANS LAND BOARD FORFEITED LAND SALE~

 *October 2009*

 On TuesdayOctober 27, 2009, the Texas Veterans Land Board (VLB) will once again offer forfeited land tracts to eligible Texas veterans in a sealed-bid sale.

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 not less than 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).

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