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Special Report 33: How to buy land - Electronic Edition

Special Report 33: How to buy land - Electronic Edition
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Author: Mark A. Smith
[This is the Special Report 33 in Adobe Acrobat (PDF) format. Our electronic products download immediately to your computer upon purchase.]

This report develops a subject not covered in The Owner-Builder Book, getting the land on which to build. Not easy to do if it's scarce or expensive - or both. We show you how. Includes many reader comments and suggestions from those who've been there. Eight pages, revised and updated with new reader tips, web links and comments.

Topics Include:
  • Land for back taxes
  • Site access
  • Buyer-seller deals
  • Impact fees
  • Perc., soils, and geo tests
  • Land loans
  • Reclaiming trees from your land
  • Land auctions
  • Developer purchase
  • High prices
  • Defaulted loan purchase
  • Buying direct from owner
  • Researching vacant lots
  • Building on a small parcel
  • Hillside lots

Excerpt from Report:

"...Second: Cost

Can you still find bargains on land that is scarce? The usual laws of supply and demand are working against you, but many have done it.

1. Land auction. There are pockets in any economic system that represent exceptions to the usual rule. An example is land available at public auctions due to unpaid taxes. People aren't as purposeful as you may be all the time. Best intentions fail due to illness, death, divorce, business reverses, etc. Call the local tax assessor and inquire. Attend at your earliest opportunity to scope out the process.

2. Developer closeouts. Buy last lots from a developer who wants to close out and move on. In the beginning new developments may have high prices and restrictive building practices that obligate you to build with a certain contractor or list of approved contractors. Later, when they have run their course, the rules may be relaxed and bargains may arise..."

Sample Reader Tip Excerpts:

"I've got a lot on the 8th hole of a golf course, which I got for $2,800, the amount of back taxes. I went down to the courthouse, got a plat map, and called the school district to see who might be in arrears. Then I called those people to see who wanted the land taken off their hands. I also did this for my parents, and got them two lots for $500 each. They were so grateful, they paid for mine, too. So I got a free lot."
Jeanne D.
Navasota, TX

"Very few city lots available here. We found a good acre and a quarter. People are paying $239,900 for 1,800 s.f. on a 2,300 s.f. lot, and they call them single-family condominiums. Go to alaskarealestate.com and see what I mean. You can save $15,000 by going 15 miles out of town. $1,000 a mile. We looked at custom homes a couple of weeks ago, $322,000 for 2,400 s.f. on an 8,000 s.f. lot which costs $62,000."
Clinton B.
Anchorage, AK...

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