Buying Real Estate Property : How to Buy a Vacant Home Site

Buying Real Estate Property : How to Buy a Vacant Home Site


Buying a vacant home site can be a really
rewarding experience. I’m Richard Blake, and I’m here to help explain how you can buy a
vacant home site. The best place to start is with your local Real Estate Agent, they’ll
have a list of available properties in the areas that you’re looking for. Once you’ve
narrowed it down to that one special property, you’re going to ask that Real Estate Agent
what the going values are, what land has sold for in the last six months in that specific
community or neighborhood. This is going to give you a good idea of what you can offer
for the land that you’re interested in, and know that you’re not over paying for it. Once
you’ve submitted the offer, and the offer has been accepted, you’re going to have a
due diligence period. Generally, it’s about two weeks depending on what it is that you’re
building there, it could be shorter, it could be longer. The due diligence period is for
you to send in your Contractor, or your Inspectors, or your Surveyors to take a look at the property
and make sure that it is going to facilitate exactly what you want to use the land for.
Once you’re past the due diligence period, then all of the contingencies have been released
and you’re clear to close on the property, o.k. I’m Richard Blake, and I hope that helps
explain a little bit on how you buy a vacant home site. Thank you and have a great evening!

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