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What's the easiest way to buy land?
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<blockquote data-quote="TexasBred" data-source="post: 746522" data-attributes="member: 6897"><p>Unless you have a lot of experience with land contracts and are very familar with the real estate market in the area you need to hire an attorney to represent YOU not only in the negotiations but in completing the final real estate sales contract. There are a lot of I's to dot and T's to cross that 99% of we folks may not be aware of. Put up an earnest money deposit and let the attorney handle it from there. He's working for you. He'll get it right. The seller may also have an attorney representing him so the two will work together to bring this transaction to closing. As for going to the title company unless you know what you're looking for and what you've found once you do see something it's a total waste of your time. That's the title company's job and they'll do all that when before they issue title insurance. </p><p></p><p>As for "cash". That always sounds good but at $4000 to $6000 an acre you're not going to get a lot of land for cash unless you're already independendly wealthy and if you've managed to get to that point you probably already know that you need to hire an expert to do all this work for you mentioned above. Long term financing is usually the route most people take and then IF the opportunity comes up you can pay additional on the principal or maybe even pay it off in full much earlier than the maturity date of the note. It can be very advantageous to use third party financing in many instances especially if paying cash is going to wipe out most of your cash reserves and leave nothing for improvements, cattle purchases and other expenses once you own the real estate.</p></blockquote><p></p>
[QUOTE="TexasBred, post: 746522, member: 6897"] Unless you have a lot of experience with land contracts and are very familar with the real estate market in the area you need to hire an attorney to represent YOU not only in the negotiations but in completing the final real estate sales contract. There are a lot of I's to dot and T's to cross that 99% of we folks may not be aware of. Put up an earnest money deposit and let the attorney handle it from there. He's working for you. He'll get it right. The seller may also have an attorney representing him so the two will work together to bring this transaction to closing. As for going to the title company unless you know what you're looking for and what you've found once you do see something it's a total waste of your time. That's the title company's job and they'll do all that when before they issue title insurance. As for "cash". That always sounds good but at $4000 to $6000 an acre you're not going to get a lot of land for cash unless you're already independendly wealthy and if you've managed to get to that point you probably already know that you need to hire an expert to do all this work for you mentioned above. Long term financing is usually the route most people take and then IF the opportunity comes up you can pay additional on the principal or maybe even pay it off in full much earlier than the maturity date of the note. It can be very advantageous to use third party financing in many instances especially if paying cash is going to wipe out most of your cash reserves and leave nothing for improvements, cattle purchases and other expenses once you own the real estate. [/QUOTE]
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What's the easiest way to buy land?
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