Vacant Land Purchase

[steve-o]

I've been looking at a web site that has online land auctions. Some of them sell for next to nothing. I have not bit on any yet, but it's very tempting. Even sight unseen, the prices look pretty good. I know, I know, "if it sounds too good....."
Pros-Cons?? experiences? thanks..

[brianb_cobbres]

Link?


And my message is too short so I am adding this line to keep dan happy

[SlumLordMike]

Due dilligence!!! Some of that land could have easement issues, title problems, or any number of complications.

[Just Information]

You should check with local utility companies to see if electric, gas and water service is available.

If not you will want to check on the connection charges. When it come to water and it is not provided at the city or county level you will need to see about the cost of drilling, sleeves and your pump.

A real biggy one is the sewer lines to the property so you want to check with the city and county to make sure of what capacity is available. Now if you have no sewer lines you need to check into the cost of installing a septic system. In some areas, this must be approved by the board of health.

You should also check on zoning to see what you can do with the property.

This is just the start and as SlumLordMike said Due diligence.

[CharlesParrishdotcom]

Walk the land. You very well could find a bargain, but you need to know; water, sewage, utilities, set backs, zoning. Make an offer subject to obtaining a building permit.

I recent purchased 2 lots in Maryland that were purchased by a tax sale investors. We offered $13,000 for them, my auction company had a absolute sale and sold them for $112,000. I had a good lunch that day.

Charles Parrish
Charlesparrish.com (site)