Sellers read this before you list your property.
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Buyer's read this before you purchase.
QUESTIONS YOU SHOULD ALWAYS ASK IF YOU ARE LOOKING FOR LAND
1. What type of land works for you? Pasture? Woods? A good MIX? How many Acres do I truly need?
The purchase of Land, Farm or Ranch will depend on you and what your goal for the future is. Do YOU want hunting property? Or cows? Or maybe a small farm… Possibly just a place to relax. Knowing your long-term goal in the beginning will help both you in your decision making process and your Realtor in the search for the perfect investment.
2. Does it have ACCESS? Is it a HWY? Country Road? or Easement? Private Road? What will my entrance off the road cost?
If the frontage is on a State HWY, cost tend to be more than a county road or private road. An easement could be even more expensive if there is clearing and an access road that has to be constructed.
3. Utilities … Electricity? Water?
Keep in mind that JUST because there may be electric or water lines close, that doesn't mean that you are allowed to use them. You may have to secure easements from adjacent land owners, have clearing issues, or possible power company restrictions. Even the water companies have state regulations that may prohibit them from adding additional meters to the existing line. Utilities can and sometimes do add lots of money to the bottom line.
4. Can I get Clear Title?
Very important!!! Never purchase a property without a title policy. Always, Always, Always protect your investment. Title policies are insurance policies that insure that you have "marketable title". The intent of the policy is to protect you when you purchase against items such as Liens and judgments, Undivided interest (i.e. heirs owning interest in the property), and a large number of other issues that could present themselves in the chain of title. I recommend that you use a reputable title company to close your transaction or have an attorney involved to protect your investment.
5. Can I get financing?
Sure you can!!! Rural Property is a little different to finance than the purchase of a home in the city. We have Lenders that specialize in financing land with or without a home, recreation or investment. The rates tend to be just a little higher (½ to 2%) than a traditional mortgage, terms usually depend on the property itself, the buyer and the intended use. The Down payment could be as low at 10% but you should plan on 15% to 25%. There are a number of programs for buyers intending to build homes, cabins or other structures so having a plan in place when you talk to a lender will help each of you work toward the Loan Program that works best for your purchase.
NOW … have I taken all the fun out of looking for Property??? Don't you worry, if you like the idea of just looking for that perfect place and not having to worry about all the issues that could arise, then I'm your guy. Call or Text me @ 903 922 2621 or email firstname.lastname@example.org.
Whether you are looking to buy or sell a house, land, farm, or commercial property in Anderson or Houston County or the East Texas Area, including the towns of Palestine, Elkhart, Montalba, Frankston, or the surrounding areas then you have come to the right website. Here you will find a wide array of information about local real estate for sale.
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