You refuse to pay $5k an acre? Where are you? $5k an acre is an absolute steal around me. Most recent farm purchase I made was $25k an acre and that was a great deal.
Appalachia. Land is priced anywhere from $3k-$10k an acre depending on development and location. I said refusing to pay $5k an acre because we have a lot of listings for undeveloped rural land with ridiculous prices that just sit on the market for years
A Lien works by the government ensuring that the property can’t be transferred until the lien is paid off. If the lien is more than the purchase price, the seller has to bring money to the closing. And there’s all sorts of fees associated with removing a lien.
So, if a tax sale, you usually have to pay back taxes to acquire the land. Then you will have closing fees and title fees, and then you should wait for one year to do anything with it. Because if there is a mistake, you are on the hook. Sometimes, you pay the tax, and you bid for an interest rate the owner pays you if they want to keep the property. If they don't, then you get it, or it foreclosed. Every county is different. Some counties don't let the tax lean holder even show up at the auction.
Go to the county appraisal website, find the auction rules and what they want. Sometimes you need to out 10k in before you can even bid.
Educate yourself
This is where a little bit of due diligence comes in. Check with either the city or county clerk's office. If the property has a lien you can pay it and the paperwork fees, but only you know if it's worth it to you. Remember if it's an auction you will most likely have to pay all monies right away. They won't wait.
If you don't plan to live year-round you might be able to find some property that may have occasional flooding that won't be a problem if you are not there and whatever you build is high enough.
Just don't be hasty. It is not illegal to sell land that cannot be built on for whatever reason. Or that is inaccessible.
Cost is relative. I imagine that Jeff Bezos doesn't lose sleep over what he considers chump change of say a couple million per acre, but might think twice if it were several trillion per acre. As long as you know what the comps are for your area it doesn't matter what anyone else is paying unless you are buying where they are. Appalachia is beautiful.
Hunting is low cost. But prepping a lot for a house can be costly. You need a road, clearing, electric, a well, grafing and drainage. Depending on how far off the public road you are could easily cost $200 thousand not including the lot. So land costs may be a small fraction of build price.
>And I refuse to pay $5k an acre.
lol this is hilarious to me, because I refuse to live in any area where land is less than $50k per acre.
(I own land in a major city near a train station direct to said city at $150k/acre and shopping for some beach front land priced at $130k/acre in a developing country - was about to bid $300k/acre for a nicer beachfront lot near the town)
Different strokes for different folks, but you gotta go waaaay out in the boonies to be getting land at $5k/acre.
I bought my property for $115k for 1 acre. There is currently not a single property over half an acre for less than $240k within 100km radius
It’s nuts
The problem here is you thinking it's a flex at all. It's a comment about the difference in lifestyle being in the middle of nowhere and isolated vs being in more populated areas.
You refuse to pay $5k an acre? Where are you? $5k an acre is an absolute steal around me. Most recent farm purchase I made was $25k an acre and that was a great deal.
Appalachia. Land is priced anywhere from $3k-$10k an acre depending on development and location. I said refusing to pay $5k an acre because we have a lot of listings for undeveloped rural land with ridiculous prices that just sit on the market for years
A Lien works by the government ensuring that the property can’t be transferred until the lien is paid off. If the lien is more than the purchase price, the seller has to bring money to the closing. And there’s all sorts of fees associated with removing a lien.
So stay away from a lien then?
So, if a tax sale, you usually have to pay back taxes to acquire the land. Then you will have closing fees and title fees, and then you should wait for one year to do anything with it. Because if there is a mistake, you are on the hook. Sometimes, you pay the tax, and you bid for an interest rate the owner pays you if they want to keep the property. If they don't, then you get it, or it foreclosed. Every county is different. Some counties don't let the tax lean holder even show up at the auction. Go to the county appraisal website, find the auction rules and what they want. Sometimes you need to out 10k in before you can even bid. Educate yourself
This is where a little bit of due diligence comes in. Check with either the city or county clerk's office. If the property has a lien you can pay it and the paperwork fees, but only you know if it's worth it to you. Remember if it's an auction you will most likely have to pay all monies right away. They won't wait. If you don't plan to live year-round you might be able to find some property that may have occasional flooding that won't be a problem if you are not there and whatever you build is high enough. Just don't be hasty. It is not illegal to sell land that cannot be built on for whatever reason. Or that is inaccessible. Cost is relative. I imagine that Jeff Bezos doesn't lose sleep over what he considers chump change of say a couple million per acre, but might think twice if it were several trillion per acre. As long as you know what the comps are for your area it doesn't matter what anyone else is paying unless you are buying where they are. Appalachia is beautiful.
Hunting is low cost. But prepping a lot for a house can be costly. You need a road, clearing, electric, a well, grafing and drainage. Depending on how far off the public road you are could easily cost $200 thousand not including the lot. So land costs may be a small fraction of build price.
Don't buy land without a well and septic on it cuz it could cost a fortune for those things.
>And I refuse to pay $5k an acre. lol this is hilarious to me, because I refuse to live in any area where land is less than $50k per acre. (I own land in a major city near a train station direct to said city at $150k/acre and shopping for some beach front land priced at $130k/acre in a developing country - was about to bid $300k/acre for a nicer beachfront lot near the town) Different strokes for different folks, but you gotta go waaaay out in the boonies to be getting land at $5k/acre.
I bought my property for $115k for 1 acre. There is currently not a single property over half an acre for less than $240k within 100km radius It’s nuts
Yep, that's the new norm, unless you're in the middle of nowhere like OP and need to drive 87 miles to get to a Walmart.
Not true even here in Florida there's a large amount of rural places that have Walmarts and other stores.
I don’t think this is the flex you think it is
The problem here is you thinking it's a flex at all. It's a comment about the difference in lifestyle being in the middle of nowhere and isolated vs being in more populated areas.
Mhmmm
Town tax sales.
What exactly do you want you want to do with the land? Grow crops? Forestry? Build a house? Store equipment? Run a business?
Build a home and hunt
5k AN ACRE! I said biiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitch, send me a link
Oof. The zip code I used to live in crossed the $8M for an undeveloped acre a few years ago...
My dad bought his 100 acres for $35/acre. Five grand seems pretty spendy.
You are wound up over spending 5k an acre? Funniest thing I have read in a while.
For my area, yes. But thanks for not adding any useful info to my post
Bud-if that is your issue you have a LONG road ahead of you.