What is the process for buying land

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Information about What is the process for buying land
Real Estate

Published on February 28, 2014

Author: yourlandlinks

Source: slideshare.net


ever wondered what is entailed in the process of buying land? check out the slides.

What Is the Process for Buying Land? www.yourlandlinks.com

Buying land may involve four distinct phases. 1.finding the property that fits your needs. 2.identifying all the land's physical and legal characteristics and property rights still awaits. 3.value the desired property 4.make a bid or, ultimately, obtain financing and complete the transaction. www.yourlandlinks.com

Step 1: Begin with the end in mind • In order to make the right choice, you need to know what you're going to use the land for, and the type of the land. Write in detail, the type of property you want. www.yourlandlinks.com

Step 2. Save enough for a down payment • An alternative is to get into an agreement with yourlandlinks.com when you buy land through us. www.yourlandlinks.com

Step 3: Decide where you want to buy • If you don't already know where you want to be, and you're cost-sensitive, visit yourlandlinks.com. • There are many databases of available raw land. A browse through these pages will give you an overview of the kinds of properties that are out there and what they cost. www.yourlandlinks.com

Step 4. Pick a few properties to follow up on. • Mark them on a map. It's a good idea to try and mark them in "lots" so when on a drive and in the vicinity of the property, you can just drive through and visit the place. • Alternatively, you can visit the land through yourlandlinks.com’s picture gallery of your desired piece of property. www.yourlandlinks.com

Step 5. Call the seller. • Have a list of questions prepared to ask over the phone. You can, of course, email your questions, but it's much better to actually talk to us and get direct answers. www.yourlandlinks.com

Step 6. Camp the night on the property. • If your up for it, this will give you the best idea of the daily rhythm of the area, and neighbors, and traffic - if after 24 hours your enthusiasm for the place has waned, imagine being there for 24 years. You've got to be absolutely in love with it, and then some, before you're ready to buy. www.yourlandlinks.com

Step 7. Research the property online and via phone • Get the tax ID number and look up what the land was last appraised at, and what it last sold for. • Alternatively, you can look at the same info when buying land through yourlandlinks.com www.yourlandlinks.com

Step 8. Verify the area of the property. • Usually you're paying by the acre, so if the acreage is overstated by 20 percent you're paying 20 percent more than needed. www.yourlandlinks.com

Step 9. Make an offer. • The value of land is arbitrary - your goal should be to pay the minimum. This way you have cash to actually develop it! www.yourlandlinks.com

Step 10. Hire a third party to go over the contract and make sure everything is right. www.yourlandlinks.com

Settlement. • Once everything has been cleared with the contracts, the final settlement takes place. • Once full payment has been made, the title is transferred into your name.

Step 11. Follow up on any contingencies - such as a title check, well inspection www.yourlandlinks.com

Buy with us. • • • • • www.yourlandlinks.com yourlandlinks@mail.com Facebook.com/yourlandlinks Twitter.com land@yourlandlinks.com

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