This issue can be overcome if you can establish a legal, recorded easement to the property. This can be done if one of the neighbors is willing to allow you access through their property – to yours. In many cases, a neighbor shouldn't be expected to do this for free, you'll have to give them a reason to help you (usually in the form of money). Again, this isn't an impossible issue to overcome, but it is definitely something you'll want to be aware of before you purchase.
When you take advantage of this option you don’t have to go through all the aggressive marketing tactics that are needed for property selling. You are not going to be using up time by having to conduct showings of the property. You are not going to be hassled with a bunch of leads that you generated that really were not the right target market for you. When you want to sell property fast then time is the priority and this is one of the major benefits you derive with the, we buy land option.
With the Arizona housing prices climbing up to pre-crash levels and single family homes being snatched up by investors to flip or rent back to millennials, do you think buying raw land now is the best strategy ? In my opinion, the fact that its hard to generate income off of raw desert land many investors pass because there in no rate of return. Million dollar homes are within a few miles of these parcels I’m looking at and i can buy a 2.5-5 acre parcel below 250k. I want to park my money in land because i know this area is up and coming vs risking it in the stock market. I would sit on the land for 10-20 years before building. Am i crazy or just see something a lot of other investors are missing out on? Also, small washes on parcels are not a huge issue right? I avoid anything that falls in a flood plane
Hi David, I think it has everything to do with the zoning of the property, and what the local municipality will allow you to do with it (given the size, shape, location, and what exactly you’re hoping to do with it). Once you have a specific property in mind, you could find out pretty easily by calling the local planning & zoning department. Just ask them what can be done with the property, and they should be able to give you your answer!
I just purchased 5 acres in a rural setting for half the assessed value (the assessment seems a bit high) as an investment. The advice I’ve received to increase the value is have it surveyed, sub-divided into 2 lots, and get a perk test done for both lots. Does this make sense to you? What about others ways to increase the value, such as putting in a gravel drive, running electric, or wells? It has good road frontage, and utilities are at least at the corner of the property.
We own about 4 acres with a house on it and a land locked property adjacent to ours is for sale. The owner came by to offer it to us for that reason. It is a 17 acre raw piece of land with a creek and cliffs really is a beautiful property. The town values it at 18K with annual taxes of about $600. He wants 25K for it and has owned it for about 50 years. The value to us is as a private wild life refuge which we could hike and camp. It’s in the Hudson Valley and close to transportation to NYC. We plan to be in our home for at least another 15 to 20 years. Would this add any value to our home or be an asset at the time we sell our home?
"When you walk into a dealership you have a pretty good idea what you want to buy and what your budget is, whether it's $20,000 or $50,000," explains Veissi. "Some people walk out owning a car that they can't afford (and getting financing terms that are not favorable). Often that is because they bring emotion into the buy." In addition, you need to hire professionals with a good track record—an engineer, appraiser, realtor, and real estate attorney. You will avoid a lot of headaches once you start negations, he adds.
But do not — and I repeat — do not try selling directly to a developer/builder. These folks, when dealing directly with a property seller, will base their typically lowball offers on a “fair market value” determined by appraisers they hire, who are typically agenda-led cronies. Such offers will almost certainly not take into account the recent increase in land values that all this upscale multi-tenant development is creating.
First impressions are lasting in real estate. When selling a home you would never leave out your dirty laundry for potential buyers to see, and you should also clean up your lot before it is shown and marketed. Cut the grass (or weeds), remove trash and take marketing photos of your property when it is looking its best. Some sellers even plant wildflowers to make their vacant land look beautiful. It’s like staging a home, but you’re just working with raw land instead.