Experience shows Texas veterans are a great investment. Even so, sometimes veterans can't make the payments on their VLB loans and must forfeit their land. The Texas Veterans Land Board then makes these tracts of land available for other Texas Veterans to bid on in our Forfeited Land Sales that are held every January, April, July and October. Land that isn't sold at these Sales, are then available for public purchase.
The Type I Forfeited Land Sale is available only to veterans and the Type II Program is open to the general public.
Type I Forfeited Land Sales are held quarterly. To participate in a Type I Forfeited Land Sale, you must be a Texas veteran who does not currently have a land loan at the VLB and has successfully repaid any previous VLB loan. Tracts may be added or withdrawn by the VLB at any time for any reason.
Next Type I Sale bidding period begins March 9, 2015 at 8:00am - April 28, 2015 at 5:00pm
Tracts that are not sold at the Forfeited Land Sale are available for sale to veterans and non-veterans. These tracts will be offered for sale to buyers whose offer to purchase meets or exceeds the listed price on a first come first served basis.
Is there a tract in our inventory that you have had your eye on? Search for a property now and see the new reduced price on selected tracts!
Qualified Texas veterans may obtain VLB financing up to $125,000 with a minimum of 5% down and a fixed rate of 6.75% for the purchase of Type I and Type II tracts. Non-veterans may finance up to $125,000 with a minimum of 5% down and a fixed rate of 7.75% for tracts in our Type II inventory only. Non-veteran purchasers who have their own financing or cash must complete the transaction no later than 10 days from the date of acceptance of their Offer to Purchase.