Spring Online Forfeited Land Sale Now Open
Since 1946, Texas Veterans have been able to finance land purchases on favorable terms through the Texas Veterans Land Board (VLB). While the vast majority of Veteran borrowers keep current on their payments, a few must return land to the VLB. These forfeited land tracts are offered first to Texas Veterans and Military Members through Quarterly Online Land Sales (Type I Forfeited Land Sales).
The current sale features 7 tracts in 7 counties, totaling more than 132 acres. Available tracts can be viewed at TexasVeterans.com, where all bids must be placed by April 23, 2019 at 5 p.m. central time. A Veteran or Military Member whose bid is accepted may apply for a VLB land loan for 30 years at a 7.25% interest rate with a minimum 5% down payment. The land loan limit is $150,000.
Please note that tracts may be added or withdrawn by the VLB at any time, for any reason. Tracts that do not sell during the quarterly sales are made available to all Texas residents as part of the Ongoing Land Sale (Type II Forfeited Land Sale). VLB land loans are available for these tracts to non-Veterans at the interest rate of 8.25%.
Your Texas VLB land loan benefit can be used toward VLB forfeited land tracts or other properties of one acre or more anywhere in Texas. If you have questions about bidding offline or online, please contact the VLB at 1–800–252–8387 or vlbinfo@glo.texas.gov.
If there are no forfeited land tracts that interest you, please consider property search websites that list land for sale in Texas, or contact a real estate professional.
