interested in a piece of land

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jcarte29
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interested in a piece of land

Postby jcarte29 » Tue Jul 28, 2015 2:18 pm

My apologies if this has been asked before (I searched the forum but got no topics found), but I am wondering if BB&T will take any form of payment for a down payment on a piece of land I'm planning to purchase soon.

I don't have the liquid cash (or equity in my home) but I could put it on one of my 0 percent cards. Amount of $7,500.

Anyone with experiences one way or the other thank you in advance!!
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AMEX Platinum (Charge) [11-16]
AMEX EDay $12,000 [11-14]
Lowes Store $15,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Red MC $10,350 [10-14]
Discover IT $4,500 [03-15]
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Cap One Quick $2,600[4-10]


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obxfisherman
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Re: interested in a piece of land

Postby obxfisherman » Tue Jul 28, 2015 8:34 pm

I don't think you can use a credit card to front the collateral for a loan to buy land. Perhaps If you were able to get a cash advance for that large of an amount you would then have cash to front for the loan, otherwise you are out of luck I believe. If you don't mind me inquiring where is this land you are looking to purchase?
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

jcarte29
Centurion Member
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Posts: 183
Joined: Fri Jan 30, 2015 1:29 pm
Location: Charlotte, NC

Re: interested in a piece of land

Postby jcarte29 » Tue Jul 28, 2015 8:44 pm

obxfisherman wrote:I don't think you can use a credit card to front the collateral for a loan to buy land. Perhaps If you were able to get a cash advance for that large of an amount you would then have cash to front for the loan, otherwise you are out of luck I believe. If you don't mind me inquiring where is this land you are looking to purchase?


Its a short sell by the owners, a piece of land (bout 4/10 of an acre) that has tax value of 77k (est) but asking price of $29,500. And its waterfront in a gated community with deeded access to community pool and boat ramp, 10 min from Emerald Isle, NC
Portfolio:
CITI Diamond Preferred $7,000 [06-16]
AMEX Platinum (Charge) [11-16]
AMEX EDay $12,000 [11-14]
Lowes Store $15,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Red MC $10,350 [10-14]
Discover IT $4,500 [03-15]
Chase Marriott VISA $5,000 [04-15]
Cap One Quick $2,600[4-10]

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obxfisherman
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Posts: 106
Joined: Sat Feb 14, 2015 12:32 pm
Location: North Carolina

Re: interested in a piece of land

Postby obxfisherman » Tue Jul 28, 2015 8:46 pm

jcarte29 wrote:
Its a short sell by the owners, a piece of land (bout 4/10 of an acre) that has tax value of 77k (est) but asking price of $29,500. And its waterfront in a gated community with deeded access to community pool and boat ramp, 10 min from Emerald Isle, NC



Sounds lovely, I hope you can work it out somehow for you to purchase it. BB&T is a good bank, they have been good to me, hopefully you can figure something out :)
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K



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