A BEGINNER’S GUIDE TO PURCHASING LAND
Buying a large tract of land might seem like a daunting task. However, for those who remain thorough throughout the process, and enlist the help of an experienced land specialist, it can be the most rewarding experience of their lives.
Finding a property
Those interested in buying land in a certain area should first decide what their wants and needs are. For example, if a buyers’ main priorities are finding a 100-150 acre parcel within an hours’ drive of town, they need to narrow their search to that area and size parcel. First time buyers’ are notorious for having “big appetites,” so it is important to be realistic.
Land specialists, such as those found throughout the Mossy Oak Properties network can be invaluable to first time land purchasers.
“The biggest mistake I see first time land buyers make,” explains Jared Groce of Mossy Oak Properties of Texas-Gainesville in Gainesville, Texas,”is that they try to do too much research on their own via the internet. Land is a different animal than say a house, so only a real estate agent specializing in land can adequately help them.”
Good land specialists will be able to match a buyers’ wants and needs with the right available property in the area. Their expertise will give a buyer peace of mind and provide them with the information they need to make the right decision. As buying a large tract of land may be the largest purchase someone will make in their lifetime, it’s important to find reputable help.
Consulting other experts
Those buying land may also want to consult with other experts for help. For example, if you have any doubts about the exact acreage or any property lines, you may want to have a survey done. You may also want to have a title attorney do a title search to make sure the current owner has clear title on the property and no issues will arise in the future. Once you have decided to purchase the property and determine you will need financing, look first to “land banks” in your area whose primary business is lending to landowners.
As with any real estate investment, there are always potential pitfalls that need to be assessed beforehand. In many states, the burden on discovering these problems may fall on the buyer, so it is important to ask as many questions as possible. A reputable land specialist will strive to ensure that once you sign on the dotted line, that you are a happy land owner and will stay happy for years to come.
Courtesy of Mossy Oak Properties