First-Time Land Buyer Checklist

Buying land for the first time can be an equally exciting and confusing experience. Whether you are a first-time buyer or decided to expand your investment portfolio to add land, this blog is for you.

Sparta Grounds assembled a step-by-step list for first-time land buyers.

To begin with, as a first-time land buyer, we urge you to articulate the why, what, when, where, and how of your decision.

• You should be able to know why you want to buy land. Also, you should identify how you want to put the land to use. This will help you decide which location will serve best in realizing your goal.
• Once you determine what you want to do with the parcel, you will then be able to identify the type of land to look for. For example, you might decide to buy a timberland property. Those properties are known for their high Return on Investment and low risk. Otherwise, you may be looking for a straight plot where you can build your house.
• Identifying the type of property you want, will help you determine the budget you need to spare for the property. However, knowing your budget topples knowing what type of property you want. It is important to find out how much you can afford to pay for the property and how you will be paying for it. Simply put, if you can’t afford to spend a million dollars on a property, then there would be no need to look for a million dollars property.
• How will you be paying for your property? Are you paying cash? Are you financing? Check out Sparta Grounds’ Zero Percent Financing Program before applying for a loan and getting stuck with soaring interest rates. With Sparta Grounds, you can pay a down payment as low as 20 percent of the property’s value and as high as 60 percent of the property’s value. No matter what you choose, make sure you follow a budgeting strategy and save for the down payment. In addition to its Zero Percent Financing strategy, Sparta Grounds offers a bi-weekly payment option over a period of up to 84 months. No hidden fees are included.
• You decided on the budget. In most cases, your budget will determine the location of your land. It will also define how much acreage your land will be. Afterward, it will be time to get in contact with a local realtor. Try to get all the information the realtors are willing to provide.

Here is a list of relevant questions you can ask your local real estate agent:

• Who is the seller? Ensure that the title deed is in the hands and name of the rightful landowner and the same person you are purchasing the property from. Lands at Sparta Grounds come with Title Insurance by FCT. This ensures that you are covered.
• Ask for the property’s deed. Then, verify with your lawyer if it conforms with the required legal criteria.
• What is the amount of tax? Once you acquire the land you will be responsible for paying all debts and unpaid taxes on the property. So, before closing the deal, make sure the land you are willing to invest in does not carry any with it. On the other hand, you will want to check the annual property taxes that you will have to pay as the new owner.
• The local agent is familiar with the area. For this reason, ask them about the local zoning regulations. You don’t want to have your usage of the property restricted.
• Check with your agent if the property has any common facilities like water, and if the property has its own road access.
• You will own the surface of the property, but does your land produce any minerals or other natural resources below its surface? You will need to make sure that you can access what’s below the surface of the property. So, ask who owns the mineral, timber, or water rights and double-check if their ownership is transferred to you along with the property’s surface.
• You might want to check the surroundings and talk to some neighbors. They will probably mention some problems that you weren’t aware of, or that the seller did not disclose, even if he is legally required to do so.
• Prepare for the closing fees and the registration fees.

With our Zero Percent Financing and Investment Club land is becoming more and more affordable. Contact us now to learn more about our unique and facilitated financing programs.