FREQUENTLY ASKED QUESTIONS:

Click on your Question

What do I do if I see a parcel I want to purchase?

If I sign a contract, am I locked in to purchase the property?

What kind of deed will I receive after I purchase the property?

Can I be sure I can build on my property?

How do I know the boundaries of my property?

How do I know how much the taxes are on the property I’m interested in?

Do you offer financing?

How does direct financing work?

 What do I do if I see a parcel I want to purchase?

Properties of New York (PONY) cannot “hold” land.  If you see a parcel you think you may wish to purchase, you should sign a contract with a 10% deposit as soon as possible, this will take the property off the market and remove it from our selling inventory.  You then have 5 business days, under the attorney approval clause, to negate the purchase upon which you will be given a full refund of your deposit and the property will be added back into inventory.

If I sign a contract, am I locked into the purchase the property?

No, under the contract you then have 5 business days, under the attorney approval clause, to receive a full refund of your deposit.

What kind of deed will receive if I purchase the property?

You will receive a Warranty Deed in which Title to the property is guaranteed

Can I be sure I can build on my property?

Each lot is guaranteed by PONY to be buildable, which mean that it will support a house, well and septic system. See the Property Protection Plan for further details.

How do I know the boundaries of my property?

PONY, prior to their purchase of the property, has an upstate New York Licensed Land Surveying Company prepare a certified property line Survey of the property.  Prior to your purchase we will walk you around the boundaries of the property.  After purchase PONY will provide you with a reference copy of survey map.  A certified copy of your lot can be obtained directly from the Survey Company. This can be arranged through PONY.

How do I know how much the taxes are on the property I’m interested in?

Upon request you will be given a Property Information Sheet on the property you wish to purchase.  The Property Information Sheet contains information such as school district, latest school and property taxes, telephone and utility providers in the area, local contractors in the area and all deed restrictions and covenants on the property.

Do you offer financing?

Yes, PONY does offer financing to credit qualified buyers. 

(for more information click here)

How does direct financing work?

PONY requires a down payment of 20% (half of which will have been paid at the time of the contract).  Our mortgage loans are issued for a 5 year balloon term. This means that the loan is amortized over a 10 year period with a balloon payment due at the end of the 5^th years.  In some cases the term is extended to the full 10 years.  There is NO appraisal fee, NO application fee, NO points, and NO prepayment penalty.