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FAQ: Why should I buy from LandForSaleStore instead of a real estate agent?
Five reasons – motivation, qualification, cost, who’s in charge and process (click here). A real estate agent’s fees can be 8% to 10% of the purchase price or a min. of $1,000 or more. At LandForSaleStore we purchase properties cost effectively, typically covering all taxes, fees, penalties and closing costs, eliminating the middleman and passing all of these savings along to you.
FAQ: Do I need an attorney or a real estate agent?
In its purest form, when buying or selling any “real property” (land and anything affixed to it) all you really need is a new, notarized deed from seller to buyer. That’s it. Now, if the “real property” is improved, i.e. has a structure on it, then there is a multitude of requirements layered on top of that intended to protect the various parties involved but vacant land is much simpler. Our buying process is straightforward with short, easy-to-read agreements and we’ve done our best to help everyone understand them but of course, if you feel it’s necessary, we encourage you to hire a professional and have no problem with that.
FAQ: Do I need to visit the property before I buy?
Of course we recommend that you physically inspect each property before you purchase to insure your satisfaction since all of our properties are sold as-is and we may not have personally visited them ourselves. We would also recommend that you contact the respective county Assessor, Treasurer and Planning & Zoning Dept. to confirm all property details and that allowable uses and future planning conform to your intentions for purchasing. We try our best to tell you everything we think you want to know about each property but nothing replaces the value of doing your own research and due diligence before you buy.
FAQ: Who buys land?
People who understand the value of a “real asset,” something you can touch and feel that appreciates in value. Two thirds of our buyers are typically male looking for recreational property, an investment or a possible home site. Rising quickly though is the other one third who is typically female and also looking for a good investment or a possible home site.
FAQ: Is land a safer investment than the stock market?
How do you define “safe?” Is “safe” something that you can control, a “real asset,” or something you have no control over? Land can be improved, increasing its value and as this country’s population grows and continues migrating west and south, undeveloped land will likely become even more valuable because there is a limited supply. The stock market however is subject to macro-economic conditions and company management that you have very limited control over.
FAQ: How do I apply for owner financing?
There is NO application process! No credit checks. No qualifying. You are already pre-approved. Simply put, once you send in the non-refundable doc prep fee/down payment and sign the agreement, we will finance you.
FAQ: Is title insurance available?
If the property is closed through a title company then yes, however, title insurance only covers up to the amount of the purchase price and therefore on less expensive properties we close ourselves it usually isn’t cost effective to insure a purchase price that’s not much more than the price of the policy. Also, basic policies don’t cover some of the things you might be most concerned about like a forged signature unless you get a more costly extended policy.
FAQ: How much are property taxes?
Property taxes on unimproved vacant land are usually very low. Even lower on Ag (agriculture) land. Taxes on our properties are typically current unless otherwise stated and will vary from parcel to parcel. Keep in mind that these taxes are usually due in two installments. The first half in the Fall of one year and the second half in the Spring of the next year. We typically disclose the tax information in the Property Details part of our listing pages.
FAQ: Does the property have utilities?
Unless indicated otherwise in our property listing page, some properties we represent may not have utilities. They’re perfect for a solar, or wind-powered “green getaway.” However, we strive to find properties that at least have electricity nearby but again, check the Property Details on our listing pages for complete details.
FAQ: How much above and below the property do I own?
This question is covered exhaustively in one of our LandBuzz blog posts. You can read it by clicking . . .
FAQ: Why doesn’t the property have an address?
A property address, often referred to as a “Situs” address, is typically not assigned to vacant land. In some jurisdictions you can contact the Assessor and request a new “Situs” address and some subdivision plats may have addresses already assigned to each lot but typically, until there is some improvement on the property such as a building, an address is not assigned.
FAQ: Does the property have a survey?
Typically not, but even if it did, we recommend you have a current one prepared to your specifications by a licensed surveyor. A survey, or boundary survey, generally shows the property lines, easements and other details as mandated by state standards but these things can change over time. Do not confuse this with an ALTA/ACSM survey which complies with national standards and is more complicated and expensive. Our properties will typically have publicly available plat maps which show how larger parcels of land have been divided down to the parcel we offer for sale.
FAQ: Does LandForSaleStore have any kind of guarantee?
We strive to make sure you are 100% satisfied with your purchase before you buy but if you visited the property prior to your cash purchase and you’re not satisfied for any reason within the first 30 days after closing, simply call us and we will either exchange your parcel for one you like better or refund your purchase price minus our direct costs.
For terms purchases, unlike others, we only ask for the agreements to be signed and the small non-refundable document preparation fee to be paid and then no more money for 30 days. Cancel anytime during that period and all you have risked is your doc prep fee which we use for closing expenses.
It’s simple: if you don’t love it, we don’t want you to own it. One of the benefits of working with LandForSaleStore is that you’re dealing with the actual owner of the property and as such, we want you to be happy.