The following tips for buying land is provided to help you appropriately evaluate land before buying.
These tips will also steer you in the direction of positioning yourself to acquire vast amounts of land in multiple locations so you have enough land investments to fund your retirement life.
Below are our top 5 recommendations for buying land.
Land buying tip #1:
Buy land in areas with potential for growth in the value of your investment.
sure the land is situated in a location that has potential to become a
city or satellite town in the not too distant future.
Other things that could affect the growth rate of the land price (or value) over time include things like . . .
Tips for buying land #2:
Ask for the title document of the land for sale and confirm that the coordinates shown on the survey document truly reflects the coordinates of the area where the land is located.
Yes, some people sell land with forged survey documents that carry inaccurate coordinates to trick buyers.
So, how do you verify that the coordinates shown in the survey document were not arbitrary used?
Simply conduct a test survey using the services of a trusted surveyor.
Tips for buying land #3: Make Sure the seller is the owner of the land
The real estate market is a very lucrative market with lots of money to be made by sellers, agents and real estate consultants. And wherever there is a lot of money to be made, there you will find many fraudsters.
So, keep watch that you're not defrauded by real estate fraudsters.
There have been countless instances where lands already bought by investors are resold to other people by fraudsters. And that starts a war between the two group of buyers.
Therefore, it is important you ascertain that the person you're buying from is the true owner of the land being offered for sale.
This is easy to do when the land has a government issued certificate of occupancy (c of o).
However, if it is a developing community without government issued C of O, you can verify the true owner of the land being offered for sale by speaking to the leaders of the community and other land owners around the community.
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Conducting all your land purchase transactions through the banking system helps you keep a record of the true identity of sellers you're dealing with.
It is also provides an avenue for you to attempt to recover your money in the event of a fraud being committed by the seller.
Therefore, one of the top tips for buying land is this . . . make sure all transactions go through the banking system!
Do not pay cash for land transactions!
Land Buying Tip #5: Take Possession Of The Land And Register Documents With The Government
Do not go to sleep after buying land in your preferred location.
If the land is not within a gated estate managed by a real estate company, then you must take specific steps to secure your land from encroachment by real estate fraudsters.
First, take possession of the land by establishing your presence on the land.
Some land buyers establish their presence by building a fence surrounding the land while others establish their presence by leasing the land out to farmers, if the land is within a farming community.
Second, register your purchase with the state or federal government and start processing your certificate of occupancy.
This retirement planning guide strongly recommends that you start processing your certificate of occupancy immediately you purchase the property to ensure you secure your land investment.
Remember that the purpose for investing in land is to acquire as many properties as possible to fund your retirement.
But that won't be possible if you lose the land to fraudsters long before it is time for you to retire.
Consequently, we recommend that you do everything legally possible to protect your land investments.
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