Some of us dream of winning a million dollars. Some of us want to win a car.
But, everyone wants to own Land!
Did you know? This is one of the main reasons the American colonists left Europe and settled in New America. Most people could not own the land they lived on, worked or farmed on. Aside from the “Gold Rush,” it is also the main reason the West Coast of America was settled. Way back in 1850, Congress passed the Oregon Donation Land Law. This law allowed individuals to claim 160 acres of Land! They could also buy extra land for $1.25 per acre. Wouldn’t you love to have that deal now? Once the Railroad arrived on the west coast and Tacoma in 1873, the “Land Rush” was on!
Most any person or https://bubba-land.com/kentucky/ family that can afford $200.00 to $1,000.00 per month can actually own their own Land. It is easier than most people realize. Especially in this economy. Sellers will be more willing to agree to Owner Financed Contracts. Meaning that even if you don’t qualify through the bank or don’t want to use a bank, you may not have to. You would make payments directly to the Seller. Although I always recommend that payments be made to an Escrow company, then the Escrow company will forward the payment on to the Seller and other lienholders.
Once you find that special piece of vacant land you want then you must:
1. Research all the information and documents you can find. Such as past surveys, wetland reports or permits, etc.
2. View or walk every foot of the land looking for problem areas, ie: hazardous wastes, wet or boggy areas, installed utilities, problem neighbors, etc.
3. Check with the governing authorities such as the county or city.
4. Check on financing options.
5. Write a Purchase Offer.
6. Negotiate with the Seller.
If you are very experienced in real estate and have purchased many properties, you may be fine going through the above steps on your own. But, in my experience, even the very experienced Buyers that have been involved in multi-million dollar transactions, seek and listen to the advise of specialized experts. Such as septic designers, wetlands experts, survey and engineering firms, attorney’s, accountants, real estate agents and others.
Most real estate transactions still happen through real estate agents. But, representing land takes a specialist. Real estate agents are typically divided into three categories: Land sales, home sales and commercial sales. Most real estate agents sell homes. Some sell commercial. But, few sell land only.
I was an active real estate agent for over 10 years. In that time I helped sell or buy only three homes for best friends and family. But, I was involved in over Fifty Million Dollars ($50,000,000.00) of Land only transactions. I have seen over 800 new homes built on Land I have sold. I didn’t enjoy going into peoples homes but, I love walking on and showing Land. I truly enjoy visualizing what will be built on a Property and enjoy the reputation that real estate has given me. I enjoy helping clients build their dreams. I help with the planning stage and the process of dealing with City and County or State entities.