How To Buy Land
Looking for strategies on how to buy land? You first will need to know where to start and then learn what the pros know to gain an advantage on the market. The best land buyers know; what the average investor doesn't. Below you'll see some of the best ways to buy land for a cost effective buy.
- A great hidden secret is tax lien and tax land sales. If you ask the average person what a tax lien is they wouldn't know, that is because it is not talked about in mainstream circles. Tax liens are placed on land where people neglect to pay their yearly land tax. The government will give the owners a specific amount of time to pay this back tax; during this time they will sell tax certificates at auction to interested investors for the back taxes until the original owners pay what they owe. If you successfully purchase one of these certificates and the original owner never pays his taxes, you will get first opportunity to put a claim on the land to get the deed without having to pay any extra fees. Another way to obtain land due to taxes is to buy land at tax deed sales. There you do not have to wait to see whether the original owners will pay their back tax, because the grace period for them to pay their taxes has already expired. This means you buy the deeds outright and will immediately gain ownership.
- Buy foreclosed land. This is something you will need to do a little research with. You will need to either go to your local county recorder or check out their web site online. You'll be surprised what lands are for sale in your area.
- Research what homes to buy using "comps". This is real estate lingo for comparisons. Any time you intend to buy land, you need to comparison shop looking for lands that are similar to the land you want to buy. The thing you should be looking for is the prices of the similar lands, so you know whether you are getting a good buy or not.