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Current time: March 29, 2024, 6:57 am

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Any advice on buying land?
#1
Any advice on buying land?
I've lived in a trailer park for several years, and had to pay rent. I've gotten enough money saved up to where I think I can buy a lot somewhere that I can own. I know I want one in town, or at least a few minutes from town, and eventually would like to build a small house there, but nothing really beyond that.

I know I could go to one of these realty places and ask around, but I'd also like to ask people who don't have a personal interest in selling me certain plots. Has anyone else here bought land? Any general advice?
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http://listverse.com/2009/04/13/10-chris...ate-jesus/

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https://www.youtube.com/watch?v=88GTUXvp-50

A list of biblical contradictions from the infallible word of Yahweh.
http://infidels.org/library/modern/jim_m...tions.html

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#2
RE: Any advice on buying land?
In my opinion, never have the words, "Let the buyer beware," been more aptly applied than in real estate transactions. I personally would not use a "buyer's agent" in any real estate transaction. I'm not saying they are all bad, but I've both purchased and sold real estate without an agent. No regrets whatsoever.

As a buyer, I have had "buyer's agents" misrepresent properties to me, up to and including how many legal lots comprised the property. (!!!) (I didn't purchase the property, needless to say.) So for myself, I don't trust them and I don't use them.

No matter what you decide, do your own homework. Head down to the local county offices. Learn everything you can: Easements, flood areas, legal lot size, are taxes up to date, who owns mineral rights, water rights, what improvements, if any, etc. Make sure your lot is a buildable one. If permits are required for anything, make sure they exist. A buyer's agent is SUPPOSED to know these things for you, but I haven't met many that will do as good a job researching the issues as you will yourself. And taking someone to court for recompense if they misrepresented something is usually prohibitively expensive and time-consuming -- as well as very hard to prove. Much better to just get it right in the initial transaction.

Talk to neighbors if you can. Get a feel for the neighborhood. I even go so far as to head down to the local law enforcement agency that has jurisdiction over the area and inquire about recent drug activity and/or busts. They are usually happy to talk about it. In other words, if there's been a recent meth lab remediation, e.g., I would want to know about that.

Don't sign a contract without having a real estate attorney look it over for you and explain exactly what is contained in the contract. The title company will ensure the title is free and clear.

That's really all there is to it.

I have worked directly with seller's agents and had excellent experiences, even though they represent the seller exclusively. Do make sure to ask about all disclosures and have them go over those -- but don't rely upon them exclusively. You yourself can't know too much about the property you propose to buy. Ever.

Good luck to you!!
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#3
RE: Any advice on buying land?
Off the top of my head, considerations on buying a lot:

Check the zoning on your lot, adjacent lots, and the general neighborhood. Know what your lot and nearby lots can be used for. You probably don't want to build in a residential area, then have a gas station put up next to you.

Check utilities. Does it have public sewage/water, or will you need a septic system/well?

Check drainage - you DO NOT want a lot with water problems. If everything else is perfect but the lot has some water problems, keep looking.

Check if the lot is on native soil or fill. If it's on native soil, what type? THis isn't a deal breaker, but if you like to garden, or want to install a patio or fish pond etc., the type of ground makes a big difference. I've had two lots, both on fill, and chores can be a pain.
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#4
RE: Any advice on buying land?
Also remember that securing a loan from a bank on land is different from a home loan.. its harder and the rate is higher.. I was thinking about doing that also...
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#5
RE: Any advice on buying land?
There used to be an ad about that, around these parts...
- Buy land, they don't make any more of it.

(yeah, I know about volcanoes and plate tectonics, but those are not really reliable ways of having new land, are they?)
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