He Said To Buy Land Because They Don’t Make It Anymore
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.
If you are building a home you will want to learn about construction loans. They pay off the land first. You could go through a Realtor to see if the Seller wants cash or monthly payments. You can stick with the terms offered or offer to pay all closing costs and write a check for a specific amount to the Seller.
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.
Ensure the land you buy will support your goals. Planning a 2-story home, a rental room over the garage or planting a huge tree may not be allowed under the existing rules. Would you want to buy 50 acres of gorgeous land to find out that all but five is wetlands?
You should check into utilities starting with septic. Will the land support a conventional septic system? Alternative systems may be authorized but cost thousands of extra dollars. Find out where the electric is located and phone too.
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?
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