Over 45 Years of offering beautiful Owner Financed North Florida Acreage
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Deer Meadow
Located in Mayo, Florida
Only 7 miles away
Deer Meadow is located in Mayo, Florida. The property is located 18 miles south of Interstate 10, only 32 miles west of the crossroads of Interstate 75 and 10. This makes for an easy commute to Gainesville, Jacksonville, or Valdosta. At Deer Meadow you would be living in the lowest wind zone rating area in Florida reducing your risk from hurricanes, plus home construction cost and insurance costs. Mayo offers great climate year round and has many amenities while maintaining its small, hometown feel.
Lafayette Blue Springs State Park is located 3 miles southeast of Deer Meadow. Take a dip in the first-magnitude spring, walk the natural limestone bridge that crosses the spring run, or picnic under the shade of the oak trees with their swaying Spanish moss. Fish or canoe on the Suwannee River or stay in one of the park's rental vacation cabins, which stand on stilts high above the river bank. Bicycling, hiking and wildlife viewing are favorite pastimes for visitors. The picnic area has tables, grills and two pavilions, which are popular for family reunions and parties. A tent-only campground is available for park visitors and as a river camp for paddlers along the Suwannee River Wilderness Trail. A primitive youth camping area is also available. Portable restroom facilities are provided in the campground, and a restroom facility with a cold-water open-air shower is available in the spring area.
The small retirement community of Dowling Park is located 7 miles northeast of the property. In Dowling Park you will find a grocery store, restaurants, shopping, and a paved boat ramp for the Suwannee River.
The small town of Lee, located at Ext 262 off Interstate 10, is located 18 miles North of the property. Here you will find a couple of truck stops and restaurants.
Mayo is located 9 miles southeast of Deer Meadow. In Mayo you find a grocery store, restaurants, school, and shopping.
Live Oak is 23 miles northeast of the property. In Live Oak you will find Publix, Winn Dixie, Super Wal-Mart, Lowes, Tractor Supply, a hospital, and restaurants.
At Deer Meadow you will find cleared land except for Estates 1, 4 and 5 which have some pine trees on the back 100 feet of each parcel. The land is located on a county maintained paved road. Electricity and high speed internet is available to the front of the property. There is no requirement or timetable to build. Mobile and Modular Homes are permitted. Farm animals are permitted. The property is zoned 1 home per 5 acres.
There are NO DEED RESTRICTIONS on this property, but you must follow the building codes of Lafayette County when you do decide to build or make improvements.
Lafayette Blue Springs State Park is only 3 miles away.
Automatic, Non-Qualifying Owner Financing Available with NO Prepayment Penalties:
Right to Call: This means that at the end of the specified time period the seller has the option to require any remaining balance of the loan to be paid off in full. One reason lenders have provisions like this in their loans is to protect the lender in the event of large interest rate increase over the years in the market place. For example, the seller made it easy for people to own this land because of the easy terms available. If in ten years the market interest rate is 18% it would be a very bad arrangement for the seller to be locked in at 8.50%. They would want to invest their money at the market rate of interest.
The seller may allow the loan to run that entire 25 year period. However, the seller could require any remaining unpaid balance to be paid off at the end of the term. If the seller does call in the balance the buyer can then refinance the land which should be easy due to with the equity built up in the property and appreciation of land values or pay off the remaining balance. For most of our customers the right to call is not a concern because they plan to pay off their property within ten years in order to save a lot of interest costs.
For example, if the buyer sends approximately an additional $3,756 a year (from income tax refunds, bonuses…) or an extra $313 per month, the land would be paid off in ten years.
Purchase Price of $89,995. Annual Percentage Rate 8.50%. Amortization based on 299 payments. You can pre pay all or part any time without penalty. At the listed amount down and assuming the loan runs the full term as opposed to a shorter pay off, then the finance charge is $101,755.42, total payment amount is $173,755.42 total purchase price is $191,750.42. There is no qualifying required for the loan.