Advice When Making a Long-Distance Land Purchase


investing-in-land

by Mark Bingaman
Social Media Expert w/ the Indy Real Estate Experts

When buyers come to LandHub.com to search for nationwide property in the U.S. for sale, they obviously have any variety of reasons in mind. They could be searching for land in their own state to buy, property in a specific region, land in a far-away state where they’d like to move, or even just the perfect patch of land that jumps off the page and speaks to them – for whatever reason.

If you’re one of those buyers and you’re scanning through our pages of land for sale in places distant from your home right now, here are a few pointers to keep in mind before you negotiate or finalize your deal.

You may find it helpful to get your loan from a lender who knows the area well and is expert in rural property loans. As a bonus, these lenders may be especially aware of any potential environmental concerns with the land or area itself.

Looking for ranch land or ranches for sale? Although smaller parcels of land are usually surveyed, in some states, large ranches may not be surveyed to the extent you’d expect. Working with a local title company or broker can also be advantageous as they can help you in the search for survey reports, maps from the Bureau of Land Management, and legal descriptions of the property that have been filed locally over the years and decades. Keep in mind that Google Earth aerials can also be of some assistance.

Local, Local, Local

You may have noticed that we’re quite focused on the idea of you working with people and companies local to the area where you’re buying land and, yes, that trend continues here. Local real estate agents, brokers, land appraisers, and attorneys can also serve to help make sure you’re moving in the right direction. The reasons are obvious: you may be unfamiliar with the area and they know it well.

If it’s an especially small area, these local folks can be worth their weight in gold. Remember, they’re sitting at the local lunch counters, golfing at the local clubs, and hearing both the rumors and the actual news. They also may be especially familiar with the history of the property. When you’re investing in an area where you are not native, you can certainly benefit from a few folks who know their county or town like the back of their hand.

Looking for farmland for sale? Don’t forget to spring for tests on the soil. Get to know it’s type and the yields produced in the past. Tests for water and soil contamination issues, in addition to other potential environmental issues, are important.

Finally, make sure the seller provides you with a complete list of all of their recommended local service providers. If you’re new to the area, you’ll absolutely want to know the go-to companies when something on the land or property goes awry. If you’ll be managing the land long-distance, even for just awhile, this list can save you endless headaches. But, of course, work up your own list quickly to ensure that the folks you hire meet your own expectations and price point.

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