Purchasing land - How to make the transaction

[Jonathan H.]

Hello everyone,

I am planning on purchasing a couple of plots of lands.
In the future, I will either sell off as the area develops or develop myself for leisure.

For one of these lots, I am planning on using the owner-financing that they are offering.

Here is my very newbie questions:

Who would write out this agreement?

How do I make sure the land belongs to me as long as I make payments?

I know these are some very basic questions but with such a small cost on the plots, it seems silly to involve an agent. I just dont know anything about purchasing real estate yet.

thanks

[Joel Owens]

Definitely get the survey to make sure what the seller is charging you in price is what you are getting.

Example you buy a .50 acres for 45,000.The new survey reveals the actual acreage is .33 acres.So instead of paying 90,000 an acre you would be close to 135,000.

Also the soil will tell how expensive it is a long with the root system to build on the land.A bunch of rock or a steep slope can get very expensive to build on.If sewer is not there and you want septic the county might require a minimum lot size to build on.

You just really need to do a lot of due diligence on it.