Vacant Land

[Rick Camacho]

Hi BP community!  I am a NEWBIE and have come across a possible deal that I need advice and help on.  I have a motivated out-of-state seller that has vacant land that has liens on it.  The land had a house on it but had to be demolished last year, so it has utilities and is in a developed area.  I also have a buyer for this.  The seller will take ANYTHING for the land, came straight from his lips.  How do i find land value and how can I go about structuring this deal?  I intend to assign the contract but, since this is the very first deal I have come across, I need guidance on where to go from here.  Any help from the community will be appreciated!!

[Gerald Harris]

1.   Do a search of land parcels around that land that has sold within the last 6 months.  This will give you an indication of the value of that parcel

2.  Reasearch and see if their is Water/Power and roads to the land.   This adds to the value of it

3.  Don't be too afraid of liens if the value is there.   

4.  Contact the County and get more information about the land, also check to see if there is some building that is getting ready to happen there in the near future.   It could be a diamond in the rough and a buy and hold situation.  

5.  Often times a problem is really a solution.   

6.  Stick to it!  Even if you don't buy it, you will learn alot when the next deal comes.