How to Score Great Deals on Rural Real Estate in the hunting world.
How to Score Great Deals on Rural Real Estate
Real Estate isn’t cheap, but there are ways to score great deals if you know what to look for. Whether you’re looking for farmland, land to hunt and fish on, or to build a vacation getaway, having a strategy in place will help. There are also precautionary measures you’ll need to take in order to get a great bargain. The following advice will help you find the land you want, at a sweet price.
- Figure out what you want through an internet search. An obvious search term is land for sale, but you can drill down your needs by being more specific. What state are you looking to buy in, and what’s your price range? Do you want property with a home, or not? Being clear about this will narrow your search, eliminating hundreds of worthless pages.
- If you are not looking for a home, then you don’t necessarily need a realtor. There are places that sell rural property for bargain basement prices. Realize that some of these places might not have utility lines connected, another reason they are so affordable. Banks sell acreage to buyers directly, and so will local or federal governments. Often these institutions auction off lots to the highest bidder. Do the research, and often you’ll find the land you want at a better price than you imagined.
- Find out if there are tax liens associated with the property you like. All property taxes are the responsibility of the buyer, so be sure you know what you are getting yourself into first. If there are, you can use this as a negotiating point to bring down the price. The local municipality will have tax records available for you to look over.
- If you want to build on the property, you will want to know if it’s zoned commercial or residential. While this will not help you get a better price, it’s common sense knowledge often overlooked by excited buyers.
- Purchasing property lots is the easiest and least expensive way to buy acreage. These lots are often very rural, far from residential areas. The thing to remember, is that the further away it is from people, the lower the price.
- If the property is not hooked up to local utilities or electric power, the price will be less.
- Road access is an important consideration. If a property doesn’t currently have access to local roads, it will be much less expensive. The thing to keep in mind though, is how much would it cost for you to build a road yourself?
- If you are unwilling or able to spend the time doing the necessary research, your best bet is to contact a reputable land broker, and let them do the work for you. They have the most experience with rural land for sale, and they offer the best prices. Everything you need to know, such as zoning laws, utility access, and tax liens will be already researched and available for your inspection. They strictly deal with these types of property, and can readily tell you if the land is a foreclosure, or if it’s land they’ve purchased to resell. Often, land brokers deal with cash only transactions, which can also score considerable savings. These brokers sometimes have access to land available nowhere else.
There are two ways to find rural land for sale at the best price. First you can spend hours doing the research yourself. This includes zoning laws, foreclosures, and tax issues. Visit government auction sites, and find out which banks have foreclosed on property at a good price. It seems like a lengthy process, but if researched diligently, you’ll save a lot of money.
The second (and easier way) is to find a professional land broker with experience in these transactions. They will have all the information you need at their fingertips. Property is available at great prices; do your research, and score yourself a deal.
The post How to Score Great Deals on Rural Real Estate appeared first on Morning Moss.