Land Buying Tips
Although I've bought land, I'm not a specialist. This information is mostly second-hand.
1. To do it right, get the book Finding and Buying Your Place in the Country by the agent. In addition to the money to buy the land, you need the money and time to have access to a car and spend months driving around looking at properties and looking up information about titles, water, easements, zoning laws, building codes, mineral rights, contracts, and so on and so on. Doing it right is too hard for most people to do alone.
2. The most common group-land-buying disaster goes like this: after a few years someone wants out, and wants to be paid their share of the land's current value -- but it's gone way up, and the other people don't have the money. So you have to sell your Eden to developers just so one asshole can make a profit. If you do not have a contract to prevent this, it's almost certain to happen. You must all agree in writing that if someone wants out, they get, at most, what they paid in.
3. Buy within your means. I strongly recommend you save up money and pay cash for the land. Loans are difficult to get, stressful, expensive, and multiply the things that can go wrong. Even if the seller will take gradual payment, it's more expensive and consumes psychic energy. Save up a bunch of money, set a maximum, and then push down from that maximum.
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