I want to buy a peice of land that is not offically listed for sale; w/out a realtor.Is there a form i can use
Answer:
Go to the local property tax office (or if you are lucky the tax office will be online and you can search from the comfort of your skivvies) and look up the address. It will list an address for the owner. Send a letter or look up the name in the phone book and call. My brother in law did this for a piece of agricultural land he wanted to lease.the guy was more than happy to lease it.just never "got around" to listing for lease.
Check with the assessor in the county the land/property is in to find the owner and send a formal offer in writing to the owner.
You first you call them. Then you explain who you are, and that you are interested. If they are open to recieving an offer, then you write them an offer with these inclustions:
Using your personal/or busines letterhead;
=======
Dear Mr. x,
My name is bla bla bla.I am a big shot who wants your small parcel (i.e. a brief real estate bio.if no history. then talk about why you want the property)
bla bla bla."the terms of my offer are as follows:"
Adress: xxx
Block and/or Lot and or parcel #'s: xxxx
Price: $xxxx
Down Payment: $xxxxxx
Due Dilligence Period: xxxxdays
Time to contract: Immediately After Due Dillgence period
Time to closing: xxxdays
Contingencies: This offer is contingent upon:
- The successful outcome of an inspection and phase 1 environmental test
- The successful commitment from a financial institution to secure the additional funds needed to complete this transaction
Attorney: name and address.or you can not include this for now
I look forward to a successful completion to this transactio. Please contact me at blab lbabla
Best Regards,
CBLCSADnlk
c.c. Attorney's name, partners etc. or nobody///
you do not need a Realtor. make the person an offer and see if they except. you will need a lawyer for closing and to protect yourself,tax,title all legal things. if he is in your area you can do two things. first write the party of your interest to buy. it ll give them time to think about it. leave your number. however if you don't hear from them wait 2 weeks let them know in the letter you will be stopping to talk. or stop and let them know you are of interest in purchasing their property. make them an offer! do the homework as to not offend them. unless your well off and ask them what they would like. there is no form that you need to deal with. your attorney will take care of all the paperwork. thanks and i hope you get your land!!
In order to purchase the property you will need a willing seller. If you have found him (see other answers, if not), you will need to agree to terms regarding purchase price, earnest money deposit, dates/deadline for inspection period (10, 30, 60 days, etc.) and closing.
To present your terms to your seller, you can write up a non-binding Letter of Intent or LOI expressing your intent to purchase his property and outlining some general terms for the two of you to sign. Once you have this, you can take your signed LOI to a title company. Any title company can prepare binding escrow instructions for both you and your seller to sign once you have an agreement to terms. You will then deposit your earnest money check with the title company and start your "inspections." Give yourself at least 30 days to check with the municipalities on zoning, flood designation, etc. to make sure you know what you are buying. From there, make sure that once your money goes "hard" or non-refundable that you really are able to line up the cash or financing to close the deal. Otherwise you will be in default and could lose your deposit. Good luck!
*A word of caution . make sure you know what you are getting into. A licensed land specialist can definitely be worth their money by helping you avoid some potential pitfalls!
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