- Real Estate
How to Buy a House with Land
It is time to escape the rat race of the city and relax in the country. In order to do that you have to first find a house with land in the area you want to live in. You also need to know how much money you are qualified to finance a house or are willing to spend. Getting pre-qualified for a mortgage is an ideal way to get this information. Having an idea of the current home values in your area is good information to have too.
Find a real estate agent or broker in the area you are looking for houses with land. Using a real estate agent will benefit you because they have access to MLS or Multiple Listing Service which is a data-base of the properties that are listed by all agents including other offices in the area. This saves you time and money because the MLS allows the agent to search only the properties that you are specifically looking for. This saves you from having to look through countless real estate guides, ads and online sites for the same information. For example if you are looking for a house with at least two bedrooms on at least five acres, the agent can enter that information into the MLS system and only see the properties that you are interested in. Real estate agents also have many leads that may be coming on the market from other agents.
Tour several houses with land and criteria that you specified. This process is enjoyable to some and tedious to others. You will meet or be driven by the real estate agent to the property and the agent will show you around the house and land, answering any questions that you have. Be prepared to look at many houses with land before finding the property that you want. This process sometimes takes months.
Make an offer on the house with land that you choose. Your real estate agent will have all of the paperwork and contracts for you to make an offer on a house with land. The seller will accept, reject or make a counter offer. When the offer is accepted by both buyer and seller it becomes a legal contract.