- What do you want? What type of property are you looking for, and what is your intended use?
- How will you pay for it? How much can you afford? If you are planning to pay cash for your property, determining your budget should be relatively easy. If you are planning to finance your land purchase, then you need to contact lenders that specialize in making rural land loans.
- Consider working with a Buyer’s Agent. If you are new to the land buying process, you should consider working with a land broker that specializes in land transactions. When looking for a land agent to represent your interests, ask them a few questions to determine their level of competency and how well you get along with them. How many land transactions have they closed recently? Are they involved with the Realtors Land Institute? Have they earned the Accredited Land Consultant (ALC) designation? ALC’s have taken over 100 hours of land-related education and have proven track records of land sales that are reviewed by a committee of land brokers from around the nation. Those are a few criteria to help you select a broker to represent you when buying land for sale.
There are many more things to consider when making a land purchase. The land-buying process takes time. Educate yourself as much as possible on what land is selling for in your areas of interest. Ask your friends who own land what they like and don’t like about their property. Asking questions and learning as much as you can from reputable sources will make your land buying process easier and a success.