My wife and I are starting to get a little more serious about locating some land in our area to build on in the next 4-5 years. With interest rates rising and likely to continually do so, we're hurrying the process a little bit more than we normally would, but as such we have to become really proactive. I'll keep it simple. No one in our immediate area really sells land anymore. Since the natural gas boom, many people have experienced lease windfall and even royalties from the gas production. People just don't see a need to sell land or want to (can't really blame them). However, what this means is that I'm starting to get aggressive. I'm tracking down leads regarding land that is either vacant, or large enough that the people who own it may be ok selling off 20-30 acres. So far, I'm 0-3:D I'm using Google Maps to pinpoint pieces of ground that have the general topography I'm looking for as well as an area suitable for building (no north facing driveways, relatively level, some fields/woods, etc., I'm then using a website database of the plot maps in the county to track down the acreage amounts, the lot layout, and the owner information (including an address). I'm then writing letters to them informing them of my interest in purchasing a piece of ground explaining our situation. I'm not ready to give up after 3 attempts, but I'm also starting to question my methodology a bit. Is this a waste of time? Has anyone actually bought land this way or know of anyone where this worked?
not a waste of time. you might find a diamond in the ruff that way! My wife and I have been discussing the same thing! there is 14 acres of buildable I found here but land in Iowa is one of two things. Too expensive for what it is, or unbuildable.
Look into land owned by older folks, farms that my be a little run down, or weeds around out buildings, the up keep can become over whelming to the elderly. Another card you can play is with the mineral and timber rights. Mineral rights can be split or divided by several parties, many people are hesitant to buy or sell because of the lack there of, or cost of buying the mineral rights, an easy way to win this battle is for both parties to share 50-50 ownership of these rights, it can be a win- win for the both of you. Good luck with your search, are you up to date with GIS mapping?
It can't hurt to try right? Worst thing that happens is they tell you no, so nothing ventured nothing gained. Another thought or approach is to check out the tax sales and see if you can pick up some land that way. There's a lot of work involved and it does take the initial investment, but after a year, you could end up with a piece of property for a steal. I know a few people who do this(mostly with homes), but the same principles apply. My uncle just closed a deal on 10 acres with a huge machine shed in South Missouri for a little over $1000 in back taxes and some lawyer fees.
My concern is you are probably going to be paying full price since the people are probably not in a hurry to sell since it was never listed. The majority of people that will consider selling will probably only sell if the price is "right". That is my 2 cents.
The only person that I know who has had this work was my wife's filthy rich gay uncle who simply slipped a note with an amount under someone's door for a house he wanted to buy. He got the house.
Look outside the gas area and try just getting permission to hunt first and then in a year or two inquire about buying if the owner should ever want to sell. Take it slow and don't be over eager, tends to make owners think their property is worth more than it is.
The house I live in now was bought by walking up and knocking on the front door and asking. It was not for sale and they laughed about it. I thanked them and left them a card and asked that they call if they should change their mind. Two weeks later we got a call and they said that we had made them think that it really was time that they retire and move closer to their kids and grandchildren. We went in and met with them and made a deal the same day. It never hurts to ask!
Yes. Bought 26 acres from my fathers neighbor in PA. Told him I'd like to buy if he'd ever consider selling, a couple years later I bought it waaaaay below market value from him. My father has done the same thing multiple times over. Talk to friends, relatives, etc...........often they will let you know of people that have considered selling and if you can get on it before a real estate agent does you can get some great deals at times.
Good to know. I have three more properties identified. Going to draft letters here this week to send out. Sent from my Samsung Galaxy S4.
Another thing to look at through your local assessor is for owners out of state. Then use Intelius to see the age group of the owner. If elderly, you have a better chance than a young guy that owns out of state.
Ya just got to let as many people as possible know you are interested in buying land and what kind of land you are looking for. I'm 27 years old and looking for 20 to 35 acres-ish and I had told this to a guy I know that runs a sporting goods store in town - he calls me up one day (pretty random as I just know him, not really a friend) and says his neighbor died and is selling 33 acres in IL (I currently reside on the IN side of the stare line) well anyway a brother and sister are selling the estate for the dad. He got me hooked up with them and next thing you know I am trying to swing a deal - it never got worked out but it wasn't by much that it didn't - plus I had a house to unload. My best adivce - get your current house in a position to sell, esp. if you are talking about building. Don't hesitate to put that house on the market for more than you think you will get - it gives you negotiating power if you sell it then oh well you will have sold it at a price that you couldn't afford not to find an apt. Or a rental while you build/look - find it and buy it! Had I not had to sell my home I would have had more negotiating power on the land I was trying to buy and have been more likely to pull the trigger on land I wanted. Only rule to follow is - don't settle for less! Know what you want in land and what your willing to pay! Good luck
Go meet them in person. Hand them the letter and be sincere. It goes a LOOONG way. Nothing worth having is ever easy..
I suppose that's not a bad idea, I just get creeped out driving up some long driveway to a house uninvited. Always worry how they will react.
Worst thing they can say is no. Then you end up exactly where you are now, without any land. I can tell you that fletch's idea is absolutely more likely to produce results than passively mailing and never introducing yourself. If they say no, ask them if they know anyone else that might be interested. Most people will respect that and you might be surprised at what you come up with.
