Cheap vacant land for sale still does exist!
But it does not mean that it is always staring you in the face. You are unlikely to walk down main street, look in a shop window and see a beautiful picture of the perfect parcel of land and have it be at a discount price just waiting for you!
A little knowledge and a little research might be required to get off the beaten track and find your way to cheap vacant land for sale on which to build your glorious future.
For those who prefer not to spend every evening and every weekend researching what is available, there are plenty of services and companies who can offer you plenty of land for sale at standard prices.
Think of land like any commodity, whether it is a stock tip, sports cards on ebay, antique cars or real estate of any kind, if you know your area, if you know what you are looking for and have dialled in your criteria, and if you know the common pitfalls to avoid, then you have a much better chance of success.
If you have not read our previous thoughts on cheap land for sale, catch up here first.
Where Do I Find Cheap Vacant Land for Sale?
Very often, you will not find the cheapest land on main street shopfront windows or glossy magazines. You might find cheaper vacant land for sale direct on land investor websites like ours.
Also you can go "old school" and actually talk to real people. If you find an area you like, try to speak to the neighbors, see if they are aware of anyone looking to sell land in the area. Talk to the local tractor supply people, or the septic installers, or the seed suppliers or the cafe owners. Many of these local people are a wealth of information and might be a gold mine of information for you.
Always Check Usability When Assessing Cheap Land For Sale
Always check with the county planning and zoning department how you can use the land and make sure the purpose you have in mind is permitted by the county.
Many people approach us to buy land and simply assume that if they “own” the land they can do as they please. Many are quite shocked and even a little angry when they find out the county actually has the final say in what they can and cant do on their property.
Not surprisingly, one of the most common requests we do get is for cheap vacant land for sale is for "unrestricted" land or "no zoning" land.
Factors To Beware Of When Buying Cheap Vacant Land
The first question to ask any seller when assessing cheap vacant land for sale is -why is it so cheap?
It does not always need to raise suspicions but it is still a fair question as you do not want to be stuck with a useless piece of land that you can't use and you can't sell.
In some cases, a person inherited the land, but they have never been there, they do not want it and they are happy to get rid of it.
In other cases, someone might just need some cash now to pay a bill or for an emergency. Its the same reason why people might sell any asset cheaper than full market value whether its stocks, boats, bitcoin, houses, stamp collection or land.
If you are there at the right time, you might be able to help them out and convert their asset to cash, as well as picking up a nice property at a little discount! Win-win!
If you have not yet read our guide on the 3 essential questions to ask BEFORE buying land, download it here.
You need to make sure there is no debt on the property, that the person selling the land has the legal right to sell it and be able to confirm all the particulars of the land.
As an example, suppose you find 40 acres that looks exactly like the perfect property for you. You deal with Mr X, you agree a great price, you can’t believe your luck! You part with some cash…
You later find out that he does not own the property outright and has 3 siblings who also own the property. If the other 3 legal owners of the property did NOT sign or agree to sell, that means that YOU now do not own the property.
If you close through a title company, they will find this out for you before you close on the deal and part with cash.
If you buy direct from Vacant Land Usa, you can rest assured that we own every parcel outright, free and clear, that we sell, plus we have had title searches done before we buy our properties to make sure they are no nasty surprises for us or for our customers.
However when you are looking at cheap land for sale, you might not want the expense of the title company. In some cases this will double the cost of the land immediately and the land will no longer be “cheap”. Many people who buy land valued at $1000-$20,000 do not hire a title company for this reason. But it is personal preference and depends on your risk profile. If you are buying land >$50,000, it is always a good idea to take it through a title company.
For many people, a simple call to the county will assure the buyer that the seller does own the property outright and most buyers are willing to leave it at that.
You can also call the tax collector for the county and ensure the taxes are fully paid up. And check if there are any known liens on the property.
Can I Make Money From Buying Cheap Land?
Absolutely. If you have the skills and have identified an area that you like that is popular with buyers, one clever way to make some decent cash flow is to find cheap land for sale.
Buy it, develop it and sell it for a profit to someone who does not have the skills or does not have the time to do the improvements.
People are prepared to pay a lot more for a property with most of the work already done.
If you have a few skills, it is very often not difficult to improve a property and make it more valuable to someone else.
Everybody is familiar with the well known renovation “career” in the housing market. Look for run down properties, buy them cheap, then clean, improve them, renovate them and put them back on the market to a grateful family to move in and not have to do the work themselves.
How Can You Apply This To Cheap Vacant Land?
Some vacant land parcels you find at a discount may be run down. Ie as no one is living on it or using it regularly, some neighbors or passers by might use it as a dumping ground for trash.
What can you do?
Clean it up- in just a few hours for either land or a house, this immediately could increased value to the sale price.
If there are no trees on a property, maybe you could plant a few trees to increase appeal. If there are too many trees maybe you could clear a few to “show” people how lovely it could be to live there.
If you have the skills (and depending on the county rules), you could place a mobile home on the site or a cabin or tiny home or a shipping container home or a modular home or something of that nature.