Acreage for Sale by Owner
Acreage for sale by owner can present numerous benefits for a buyer. In many cases, the owner will offer seller financing; credit checks or qualification might not be required; the price might be less because no real estate commission is being paid; the amount of the down payment could be smaller; the documentation process could be much simpler and faster; and closing costs could be considerably less.
Buying acreage for sale by owner can be easier, more relaxing, and much less intimidating than buying acreage through a professional real estate firm. Most real estate brokers are very competent and professional, but the process involved is more formal and institutionalized. There are formal offers and counteroffers to deal with, loan applications to fill out and submit, and numerous documents to wade through.
When a buyer deals directly with the owner, however, the process can often be exceedingly simple. The buyer and seller agree on price and terms, the buyer verifies ownership with the county clerk, and they execute a sales contract. The entire transaction can be completed in a just a few days. If the seller and buyer live in the same area, then a personal meeting might be beneficial. If the seller and buyer live in different states, then documentation can easily be handled by telephone, fax and FedEx.
Regardless of whether a person acquires acreage for sale by owner or acreage for sale from a real estate broker, a good acreage deal can equal a lifetime of salaries. Large tracts of rural acreage, at low per-acre prices, should be part of every intelligent investor’s portfolio.
Disclaimer: Legal advice is not being offered regarding how to purchase real estate—and all parties to a real estate transaction should seek the advice of legal counsel.
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