Mobile Bay Blog

Introduction

Maybe you've always dreamed of your own place in the country. Here's how to buy rural land. Below are some suggestions as to things to consider.  Ask our Realtors at ACP Real Estate, Inc. to help you gather this information.

Information our Realtors can help you with.

Steps

Step One
Determine how you intend to use the property and what features you desire, such as ponds, trees or easy accessibility to main roads.
 
Step Two
Consider area amenities such as grocery shopping, banks, and hospitals.
 
Step Three
Narrow your search for the perfect spot by driving through rural areas, searching classified ads in newspapers or on the Internet, and contact any of our real estate agents at ACP Real Estate, Inc. about rural properties for sale. We are members of both Mobile County and Baldwin County MLS systems and can help you with any listed properties in these areas.
 
Step Four
Walk over the property and obtain topographical maps of the site from the U.S. Geological Survey to learn about the terrain and features of the land.
 
Step Five
Contact local government offices to find out about rights and restrictions that could affect your use of the desired property, such as zoning ordinances, historical restrictions or environmental regulations.
 
Step Six
Ask our agents at ACP to obtain prices of other, comparable land sales in the area - they will do this as part of their ongoing service to you.
 
Step Seven
Ask the current owner for a professional survey of the property to determine boundary lines.
 
Step Eight
Arrange to finance the land purchase through a private lender or the current property owner.
 
Step Nine
Consult with your Real Estate Agent at ACP about contract terms before making your offer on the rural land. If necessary, our agents will suggest contacting a Real Estate Attorney for specific information.

Tips & Warnings

  • To make full use of the property in the future, find out about all government restrictions or regulations on the land before you make an offer to buy the property.
  • Obtaining financing on undeveloped land through conventional lenders can be difficult; your best bet for financing may be a private lender or the current property owner.
  • Most lenders will require a subordination clause that requires you to pay off the balance of the loan on the land before taking out another loan to build a home or other structure.

Contact any of our agents here at ACP Real Estate  by clicking on our Staff Profiles Button to help you with all of the above information requirements allowing you to complete your search and satisfactory purchase of your new Country Space!

Posted by Kelby Linn on May 9th, 2007 12:21 PMPost a Comment (0)

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