How can these home sites be so inexpensive?

Quite simply, the original developer over-developed the community. Too many home sites and not enough demand for people to live in the economically challenged small city of DuBois. In economics 101 too much supply, too little demand. As a result, many of the original owners simply couldn't sell their home site. So they stopped paying their taxes and let their property go to Clearfield County for tax sale. The problem then was all those lots had liens on them for back assessments from the Property Owner's Association. We came in and offered a work out program with the County and Property Owner's Association to quickly sell these lots and find new owners whom would appreciate the community, pay their taxes and pay their assessments. We bought the lots for very little money and are quickly re-selling them for very little money. A win-win-win for everyone involved. There is nothing wrong with these home sites and nothing is intrinsically wrong with the development. The supply demand ratio is just way out of balance.

Is this home site a good investment?

Similar communities sell for over $25,000. We believe that as the supply dwindles that the prices will have to inevitably rise just as they have in other similar communities throughout the country.

What is the definition of POA?

POA stands for Property Owner's Association. This is an association usually formed by the property owners of a particular subdivision. Some of these associations have annual assessments that are always noted in the listing. These dues are used to improve or maintain roads, upkeep of the community area, and generally add value to the community. Treasure Lake has an annual POA assessment of only $640/year.

What is a deed of trust?

A deed of trust is a special kind of deed that is recorded in public records, where it tells everyone that there is a lien on your property. It is used in place of a mortgage.

A deed of trust involves three parties. You as the trustor, the lender as the beneficiary, and a neutral third party as the trustee, who you can think of as someone who holds temporary (but not full) title until the lien is paid.

The deed of trust is cancelled when the debt is paid. Until then, the trustee has the power to foreclose if the debt is not paid, without going through the court system.

What is a land contract?

A type of seller financing in which title does not transfer from seller to buyer until the mortgage has been paid in full. Under a land contract, the buyer gains equitable title and seller maintains legal title. Once you have made your last payment, you are issued a Special Warranty Deed in your name and you are provided with a certificate of title in your name.

What is a Special Warranty Deed?

A Special Warranty Deed warrants only that no party made a claim to the property during the seller's ownership. Under a special warranty deed, the seller is not liable for any defects in the title attributable to his predecessors.

Do any of your properties have liens or encumbrances on the title?

No. In fact, we guarantee our properties have clean title.

Do you offer title insurance and can I run a title search?

Yes. Included in the sales price is a certificate of title provided by a local attorney in the buyer's name so the buyer has confidence that there are no liens or encumbrances on the home site. You will be provided with a certificate of title as part of our service, guaranteeing the property is free and clear and a buildable home site. You will have to notify us when you start building and we will provide you with your certificate of title.

Who pays closing costs?

We include a $195 closing fee with your payment. This includes recording fees, and attorney fees. We also charge the current POA Assessment and the one time transfer fee to ensure you start your membership in good standing.