Ask Experts Questions for FREE Help !
Ask
    Dub2322's Avatar
    Dub2322 Posts: 11, Reputation: 1
    New Member
    		  
    #1

    Jun 26, 2013, 02:23 PM
    Land in Arkansas
    I'm 20 years old and I'm wanting to buy 15 acres from a guy that I have known for years.. He's a really good man but it's a lot of money to be screwed around on. He hasn't have me a price but I would like to know what to expect when he does.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Jun 26, 2013, 02:35 PM
    What specifically is your question? He'll name a price which you should evaluate based on recent sales of comparable land in the areaa over the past year or so. Then you make a counter offer. Make sure that if you reach agreement you have a signed contract - retain a lawyer to write it up, be sure to have the land surveyed so you know its precise boundaries, and contact a title insurance company to protect yourself in case of future property disputes. Are you planning to finance the purchase, or will you be paying cash? Are there any buildings on the property?
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
    Uber Member
    		  
    #3

    Jun 26, 2013, 02:38 PM
    Hire yourself a real estate attorney... and get yourself a real estate agent.. they know the ropes. Don't let the seller do it. And don't use theirs... you NEED your own.

    Don't cheap out.

    Make sure you get title insurance.. make sure the property is surveyed... thats for starters... and don't do it all long distance.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

70x66 land if I don't pay the land taxes what's the worse can happen.sale.put len on my [ 7 Answers ]

bought apeice of land 70x66 in back taxes for 800.00 after the sale the town police took my wife to the town attorny and they told her she owed for a demaltion of a building on the grounds.3000.00 this was not mention at the sale buy the sherriff.if I don't pay this what's the worse can happen.can...

How do I sell my land in Arkansas with a limited warranty deed? [ 2 Answers ]

Three years ago I bought land in Arkansas and received a limited warranty deed, can this property be sold with a limited warranty deed?

Parents deeded land to children before their death, tax consequence upon sale of land [ 1 Answers ]

What is tax consequentce on sale of land that was deeded to children before death of parents (now deceased)

My bro-in-law owned 40 ac. Of land we have lived on the land for 5 yrs, can the heirs [ 1 Answers ]

-my brother-in-law ask my husband and I to move onto his land with him. He has died and left no will. The land goes to his kids. The question is can they make us move off the land even though we were to live there as long as we wanted to.

Tax land sales in Arkansas [ 1 Answers ]

I have been wanting to go to a tax auction for years and I think I understand the process but how do I research the property that is for sale? How do I find a physical location of where it is so I can go look at it and make sure there is an easement onto it?

View more questions Search