Having sold some lots and buying another one, I have some first hand experience with land purchases. A friend who used to have a realtors license told me the number one rule is to never trust a realtor. The real good and honest ones are few and far between. Make sure to get a real property report and have the property lines on all corners clearly identified. Never have the same realtor acting for both the buyer and seller, ever!!! Never have the same lawyer for the buyer and seller! I did on one lot but only because it was a very straight forward deal. Both parties were motivated and there were no problems at all on this lot. Most good lawyers wouldn't work for both parties. In addition to what has been said, find out if there are any restrictions on the land or if the land is slated for future development. I looked at a piece of land that half of it was undevelopable because it was adjacent to a land fill. It was 109 acres but could never be subdivided and eventually would be taken over by the landfill. To do any building or development had to go through a lot more scrutiny than other lots. The seller figured that since the county would be adding it to the land fill, in the future, it would bring the price up. Wrong, why would the county give a higher assessment to a property it would eventually have to purchase? I didn't purchase this property. Make sure that all approaches are up to county standards regarding width and culverts etc. Don't agree to accept anything that was required to be done by the current owner/seller unless it reflects a discount in the purchase price. Have this is writing clearly stating what is being done and what the compensation for it is. The land I purchased didn't have an approach and the access road was just dirt with no gravel. I agreed to put the approach in as long as long as I didn't have to pay for the upgrading the main (county) entrance road. The seller told me he "would take the county to task" for upgrading the main road but it wasn't in writing. I had to pay an additional $1500+ for upgrading the road. The approach was supposed to be put in by the seller when he subdivided. There is a $1500 hold back when subdividing for the approach off the main road. Even the public works manager said I should get the $1500 because I put the approach in. I explained the agreement I had with the seller to the county and they agreed I should get the $1500 but because I had initialled that I purchased the property without an approach, the seller would get the $1500. The approach is supposed to be completed within a year after subsdivision approval. This was 2 years after! The last thing and maybe the most important is to hold back some of the purchase money in case there are things you discover that you didn't agree to at the time the deal was made. Had I have done this or had a more experienced realtor, I would have saved at least $1500 and probably the equivelant of $3000. Hope this helps. I'd make a real low offer($140???), to start with and see how motivated the seller is. They could be really hurting due to the economy. You can always offer more at a later time. Sometimes a low offer with a big deposit will get you a property for less because it shows the seller you are serious. Good luck! Dave
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
... [Read Article]
Latest Ad:
Oliver 550 Diesel runs like a watch three point hitch pto engine gone threw about two hundred hours ago nice clean tractor
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
