On this page you will find answers to the questions most commonly asked by land buyers. At Acreage for Sale we try to give you the most current and up-to-date information concerning your land purchase.
If we did not answer your questions below, feel free to Contact Us by phone (614) 285-LAND or leave a comment at the end of this page. We are reviewing comments regularly and will answer them as soon as possible.
Utilities
One of the most common questions to consider when looking at vacant land for sale is the utility situation. If the land is raw, there won’t be any utilities installed. Therefore, the better question is whether they can they be installed and at what cost . The main utilities of concern are sewage systems, water lines, and electricity. Every county has somewhat different rules. Whenever you consider buying vacant land, you should always find the parcel number and the county and township it is in. Then call the county health department and ask if it is permissible or not to install the utilities you want. This is the most accurate way to find out what is allowed. Don’t just take the seller’s word for it.
How Much Does It Cost to Install Utilities?
If you want to build on the vacant piece of land you plan to buy, you must consider the cost of installing utilities to the lot. On smaller lots the price to install utilities may surpass the selling price of the land itself. So do your due diligence! The best way to find out how much it would cost is to contact the county’s health department or engineers office. Most of the time they will tell you what is permitted and give you a list of reputable contractors to complete the job. You can call these companies directly and get written estimates.
What Can I Put on My Lot?
Many times, when it comes to vacant land for sale, you are starting with a completely raw hunk of earth. Naturally, one tends to think about all of the possibilities for the property to get the maximum benefit of the investment. One of the most common questions land buyers ask is what they can legally do with their lot. No matter what the seller tells you, it is important that you get the facts straight from the county engineer’s office. With the parcel number or address of the lot, they can tell you about the zoning, flood planes, explain whether you can build a permanent residence or commercial structure or just park a camper for the summer. Don’t skip this critical step before you put any money on the table.
How Much Are the Taxes?
When you buy a parcel of land you must pay property taxes every year, even if there’s no structure on the property. To find out how much that will cost, you need to contact the county auditor’s office (in some states it is called the “assessors office”) and ask them what the annual tax is. If you plan on building a structure you may want to mention it, as well. The auditor should be able to give you an estimate of how much your taxes may change. Also ask, if there are any levies or assessment on the property. Most counties have this information online. Just search for the auditor’s website to see, if they offer an online property search. Not only will you find detailed tax information, but often it will show previous sales prices, property maps, and ownership data.
Can I Hunt And Fish On My Own Land?
Many buyers of vacant land are outdoorsman. They want to know, if it is legal to hunt or fish on their land. As a general rule, when a parcel sits outside of city limits, there are no zoning restrictions. However, hunting and fishing is regulated by State agencies, such as the Department of Natural Resources or Wildlife. You certainly need to contact them for information on hunting season and appropriate licensing. Hunting and fishing licenses are easy to obtain. You can buy them at local stores or online at the agency websites.
How Much Is The Down Payment?
We are offering very competitive down payments when you buy land from us. Typically, you are looking at a third or even a quarter of the total purchase price. We accept earnest money deposits of as little as $500 for you to secure the property. This means for only $500 and a signed purchase contract, you can lock up the deal and take the property off the market. Then you have until the closing (2 – 3 weeks) to come up with the rest of the down payment.
How Are Land Properties Financed?
Found that perfect land lot for sale? Great! Now it’s time to talk about the financial side of the purchase. If you don’t have enough cash on hand right now to cover the full purchase price we can finance your purchase. You still will become the property owner when we close. However, with private seller financing you can make a smaller down payment and pay the rest in monthly installments over a 2 to 4 year period. Our qualification process is really simple. We are too concerned about your credit score, but we are looking at your ability to make the monthly payments, based on your job history and current income. We want to ensure that you can afford your monthly payments and pay off your loan after a few years.
Is There A Discount For Cash Purchases?
Yes! We offer generous discounts for cash buyers! You can expect to save between 10% and 20% off the listed price, if you buy all cash. The best part about this discount is, you can still take the property off the market for the $500 earnest money deposit, and pay the remainder in cash at closing (usually within 2 to 3 weeks). This give you the peace of mind of securing a property you love, while at the same time having enough time to comfortably gather the rest of the money.
How Do I Access My Land?
Whenever you buy a vacant rural property, it is advantageous to find a lot that has access to public roads. In that way it is very easy to just drive your car, truck or RV onto the lot and have fun. Unfortunately, not all land properties are created equal, and your lot may not have direct access to a road. This is not a deal breaker, but access may become more complicated. If your lot is surrounded by other properties, you need an “easement” or “right of way” agreement. This is a legal document between you and the owner of a neighboring property that allows you to cross over their land to get to yours. Most land locked parcels already have easements recorded with the county. So ask the county recorder if a right-of-way has already been issued. If not, contact your neighbors and ask them for permission to access the land you plan to buy.
What Are Closing Costs and Who Pays Them?
Closing costs cover the fees a title company charges for closing the purchase transaction. That includes the time they spend preparing documents, recording the deed with the county as well as a title search and title insurance. We work very hard to offer you top quality land investment opportunities at bargain prices. Therefore, the buyer needs to cover all closing costs needed to finish the transaction.
Are the Mineral Rights Included?
When you buy one of our properties for sale you will get both the surface property, as well as the Mineral Estate. When we sell, we relinquish all mineral rights to the property you buy from us. You may cut down and sell any timber you wish for profit, use a metal detector for treasure hunting, or mine the land in any way you see fit. If you strike gold, just make sure you tell your fellow investors which company you bought the land from! In some rare circumstances other parties or the government may own the mineral rights over certain parts of the country. If that is the case we disclose it to you in the title documents.