Through the help of digital technology, you can now purchase almost everything online—including real estate. It’s not just houses that you can purchase, either. If you’re in the market for an empty piece of land, there are more than a handful of online marketplaces where you can find plenty of options based on price, location, acreage, and other criteria.
That being said, while buying land online is easier than ever, you still need to approach it with caution. For one, land costs a LOT of money. There are also other aspects that you have to consider that you don’t usually think about with the usual purchase from an online store. By being extra diligent, you can save yourself from stress and avoid going over your budget.
To help you make informed decisions and navigate the process as smoothly as possible, here are essential tips for buying land online:
Determine Your Purpose, Then Do Your Research
Before you look at online land listings, determine what your purpose is first. Are you going to build a house there? Are you going to use it as farmland? Knowing exactly what you want to do with the land will then help you determine what kind to buy, especially when it comes to topographical features.
Once you’ve locked this part down, the next step is to do your research. Apart from comparing the price to your budget, you should also consider the following factors:
- Location
- Zoning regulations
- Access to utilities
- Access to main roads
- Surrounding areas, like mountains, forests, and bodies of water
- Planned developments in the near future
All of the above factors can have an impact on your development plans.
Find a Reliable Real Estate Agent
While you may be an expert at online retail shopping, you’re likely going to need help with buying land online. It’s not that land-selling websites are difficult to navigate, however. Rather, it’s that buying land in general involves more than just clicking the “add to cart” button and paying for the purchase upon checkout.
This is why finding a reliable real estate agent is crucial in ensuring a smooth transaction. Hire one from a brokerage that uses Brokerkit recruiting software, so that you can be sure about their competence. With a competent agent by your side, you’ll have ample guidance throughout the buying process. They can even negotiate prices for you, so you may end up saving a lot of money.
Before you hire a real estate agent, however, make sure to review their credentials first. If possible, look for someone with an expertise in the location you’re targeting and the type of land you want to buy. You may also seek recommendations from your friends or loved ones.
Verify the Legal Aspects
There are plenty of legal aspects involved in buying land, online or otherwise. Make sure that each and every one of these aspects are settled before you finalize your purchase. This is another part of buying land online in which a real estate agent can help you out. From verifying that there are no title disputes to reviewing deed restrictions (if any), a real estate professional can help you sort out these crucial matters.
Other legal aspects you need to take a look at include the land’s boundaries, zoning ordinances, easements, and even air rights.
Understand the Buying Process
Working with a real estate agent when buying land online might save you a lot of hassle, but it’s also a good idea to familiarize yourself with the process. This gives you more confidence about the purchase. It will also help you navigate other real estate-related transactions with ease, should you need to conduct one in the future.
Assess ALL the Financial Aspects
A key consideration when buying land online is the cost. Aside from the price of the land itself, you should also consider the cost of taxes, closing fees, and development. For example, if you’re buying land on which to build your dream house, you may need to dig or flatten the area where the structure will stand. It’s also a good idea to assess the land’s potential value in the future, considering nearby amenities, market trends, and the like. If needed, consult with your real estate agent and a financial advisor.
Check If You Need Further Professional Services
Speaking of financial advisors, you may end up needing more professional assistance depending on the situation. For example, if there are any legal disputes or issues with the contract, hiring a real estate lawyer can help you sort things out. Meanwhile, a land surveyor can help you with topography assessment and boundary verification, among others.
If you hired a real estate agent, they may likely know other professionals who may be able to help you. Remember to consider their expertise, reputation, and fees so everything goes as smoothly as possible. Buying land is a huge investment. Thus, you don’t want to make mistakes even if the process has become slightly more convenient through online platforms. Remember the above-mentioned tips so you can make informed decisions and avoid an unpleasant experience when buying land online.
