Well - Yes and No. Experienced land buyers can surely get through the buying process without much trouble. On the other hand, most land buyers may want to consider using a real estate agent to assist in the process. Not all agents are equally qualified. An agent that sells mostly homes will not have the experience that a land specialist has. Finding an agent that specializes in land sales will not only make the transaction easier, but you can be assured that the agent will know all the correct questions to ask so that you purchase the land that is best suited to your needs.
Below is a list of things to consider before purchasing land.
1. What type of property are you looking for? Not all land is created equal. You need to make a priority list of your wants and needs. Will you be using the property for recreational use, residential use, farmland, timberland, future investment? Are you planning on sub-dividing it? Building more than one home? Are you looking for land with water? Wooded land or open ground? These are just a few of the questions that you need to ask yourself.
2. As Tim Helline puts it - "What is your threshold for pain?" How much are you willing to pay for land? If you are planning on building a home or some other structure, you will need to consider your final cost when determining how much you want to spend on the land. If this is investment land, you will want to make sure that you are getting your land at a good price and not overpaying for it. If you plan on financing, you will need to work with a lender that specializes in land financing. Carolina Farms and Estates works closely with AgSouth in Rock Hill, South Carolina. Land financing requires a larger down-payment. You will want to discuss this with the lender before starting your search. Your available funds for a down-payment may limit the amount that you can spend on land.
3. Does the land qualify for your intended use? So you did your homework and found a piece of land that is within your budget and also has all of your wants. Now you need to find out if it will qualify for your intended purpose. Is is zoned correctly? Does it have enough frontage? Are there any deed restrictions? Does it perk? The list goes on and on. This is where an experienced land broker comes into play. They will know the answer or know how to get the answers for you. They will also know the answers to the questions that you didn't think to ask!
4. You're ready to make an offer. Now what? Some of the above items will not have an answer until after you have an accepted offer. Most of the time, land will be perked after an executed contract. What happens if the land doesn't perk? Can you get out of the contract and get your earnest money back? What if it doesn't have the correct zoning- Can the zoning be changed? If you are unsure of the answers, you will most likely benefit from an experienced land Realtor.
5. How do you find a qualified land Realtor? If you have determined that you would benefit from the expertise of a land Realtor, you now need to find one that is qualified. Search for a local Realtor that specializes in land by asking around. If you are financing your purchase, ask your lender for several recommendations. Ask local land owners or friends who have purchased land. Search the internet to see who sells land in the location that you are searching. Any of these suggestions should get you an answer as to who is the best qualified and most knowledgeable for the type of property you are looking for. Don't be afraid to contact the brokers and ask questions. Learn as much about land purchasing as possible. Make sure you are comfortable with the Realtor you choose. If they do not have answers to some of your questions, you may want to keep looking for someone who has more experience in land sales.
Carolina Farms & Estates has agents that are licensed in both South Carolina and North Carolina. We specialize in both large and small tracts of land and our agents have experience in sub-dividing land, rezoning land, perking and combining parcels. Because we specialize in land sales, we stay on top of the market so that we can best meet your needs!