A great person once reminded the masses that you buy land because nobody is making it in a factory. You may have a dream of five acres and a cabin or a city lot with a view. Do you want to spread out with animals or roost on a mountaintop? There are many reasons and ways to buy land.
A real estate professional or a book on your kindle reader will both provide information. Both will describe the differences between using a Realtor with full MLS (Multiple Listing Service) access to assist you. Another option is to respond to advertisements in print and on your computer.
There are many ways to craft an offer. For instance, the ‘reality check’ is the a check in the amount a seller would accept right now. Normally you would offer to pay all closing costs so you just want to know what amount that check has to say at closing. The ‘reality check’ is a great tool.
Make sure you use your favorite title company for closing. If you are considering a transaction outside of your local MLS you still need to use a competent title company. Title insurance and others services protect both you and seller. I was introduced to a terrific title officer by a friend when we were shopping for toddler baby bedding.
Between the baby bath towels and shoeboxes filled with papers is a metal lock box. This where I keep the title reports on purchased properties. A record of easements and owners with plat maps and sometimes a survey. All provided by your friendly local title company.
The title company or your Realtor can help you find out if the property will meet your needs. They can tell you that 20 acres can be split into five acre minimum parcels. They can also tell you that there is a zoning vote pending that will not allow it to be broken down further.
Once you know the land can be used the way you want, check out utilities. Start with sewer systems. There may be a public or private system with fees to hookup. You may need a septic which means tests will have to be performed to determine what type of system is approved.
At the end of the day you want to close on a transaction that is done properly. You want to be confident in your data collection, identifying applicable rules and regulations, and knowledge gathering. Visiting with all your friends and contacts in the real estate industry makes sense. The third rock from sun is even better when you are listed as one of the owners, right?
