So You Want to Buy Land?

 

 

  1. Determine your budget how much can you afford.

  2. Determine why you are purchasing land, what is your objective? Use it for recreation? Build a home? Agriculture? Timberland or grow trees or if you are like most people maybe you want property that will offer multiple uses.

  3. Where do you want the land to be located? My advice if you are unsure where to buy is to grab a few listings in different areas and drive by, the intent isn't so much you find something to buy but more importantly see which community or communities feel good to you. Once you've pinpointed a community then focus in on your land search.

  4. Do some research and be realistic on your expectations on comparing your budget to the land that is for sale in your budget if you don't like what you're finding maybe increase your budget or wait, be patient something you like will pop up. Being that you've been looking for awhile one something good comes along you should be ready to make an offer.

  5. Not all land is created equal things like topography, wetlands, soils, access to utilities are all important factors to consider when buying land. This is where a experienced land real estate agent can be a valuable resource to help you explain the positives & negatives of a particular piece of property. Remember just because a Realtor is licensed does not make them an expert on land real estate. 90% of most Realtor's are residential Realtor's selling houses for 95% of there income. It's a good bet that the Realtor who sold you your house is not an expert in land.

  6. When ready to make an offer make sure your offer includes a feasibility contingency time period. The feasibility contingency allows the buyer to tie up the property so no other buyer can steal it away but allows you time to investigate the property you'd like to purchase. If you find that the property will not be suitable to your needs you can back out of the agreement with the return of the full earnest money as long as you notified the seller prior to the feasibility expiration date.

  7. If all things check out then you are ready to close and become a land owner.

 

This article was written by Curt Christopherson President of Sea-Port Realty Inc. a recognized land listing and selling expert. If you have land to sell or want to buy land call Curt Christopherson of Sea-Port Realty Inc. aka www.LandManOnline.com