Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago on . Most recent reply
First land deal advice please
I have been in talks with a guy who purchased some rural land through a tax auction years ago. He never paid taxes on this land and is now at risk of losing it at a tax auction if he doesn’t pay the taxes by May.
He says he needs 8K for the land. I spoke with a local real estate agent who says that it’s worth about 22K.
I spoke with the local abstract company. They will do a deed search (40 years) for $375 and the tax search to see exactly what needs to be paid for $25.
I’m meeting the land owner on Friday to walk the land and make a deal.
I have all the funds. What should the contract include? I was thinking that I just need to state the parcel number, address, price, etc.
Am I missing anything important?
Thanks in advance.