(Buying Land) Will NEVER Look the Same

When it comes to buying land, there are many ways to finance and negotiate the best deal. There are also millions of parcels of land that are not for sale, but that doesn't mean it can't be bought.

In this video, Wayne shares with you the easiest way to find these properties, the correct steps to make an offer, plus the mistakes to avoid when buying any tract of land.

He will also cover the way to finance a piece of land through the process of owner financing.

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The contents of this video are strictly for educational and entertainment purposes. This video does not provide financial, accounting, tax, or legal advice. For financial or legal advice, consult a financial advisor or lawyer.

Wayne Turner may earn commissions for purchases made through links in posts on this channel. You are never required to use or purchase anything Wayne shares.

[Ray-fqij]

If you call a surveyor and ask for an ALTA survey, it will show on it just about everything mentioned in this video. We will retrace the boundary, show all easements and encroachments, utilities, etc. Its a little more expensive than a boundary survey, but well worth it. We like being called before buying a property, we like it less when we're called after you've purchased a property and want help resolving an issue recently discovered.

[jayhint]

Owner financing is very powerful for buyers and sellers indeed. I was able to buy a beautiful almost 10 acre lot with favorable terms in a great area on owner financing listed on market with no prior real estate experience. The key to my deal was knowing how to negotiate and showing I would be the best option in the distressed situation.

[rjsimpkins]

The worst idea ever is buying land that has hazardous waste issues and especially if it is on Superfund site. Joint and several liability makes everyone in the chain of title 100% responsible for the cleanup, which can easily exceed $1M an acre, even if you bought it decades after the contamination occurred. This is why so many old gas stations sit untouched, because of underground storage tanks that leaked gasoline or diesel into the ground. Living on a defacto chemical dump is often quite dangerous for human health too. I am very well acquainted with one Superfund site, where a closed chemical plant operated, that was the subject of a week long federal trial. The judge ruled that the groundwater will still be poison 1000 years from now.

[pamwells]

I was a real estate agent in Georgia for almost 30 years. I retired a couple of years ago. Sellers here are not receptive to owner financing, even short term, even though it’s a tremendous investment opportunity. My husband and I have been looking for land to build our retirement home and we have found NOBODY willing to offer owner financing. We have great credit scores but not the 40% to put down. The only instances I’ve found where sellers are willing to finance is if the land is almost not buildable due to being in a flood plain, or a steep cliff, or not owning mineral rights, etc. How I wish it was a simple as asking and getting owner financing, and maybe it’s that way where you’re from, but not so here in Georgia. I think you should do a video educating sellers on the benefits of owner financing.

[Tekanomo_]

You are a fast talker, but everything you have been saying are filled with wisdom. I am really impressed and glad to have bumped into this channel. Thank you so much for this deep insights.

[jeepinwithjim]

Just wanted to share from a mistake I made when I was much younger and uninformed. Bought a great piece of land in TN from auction and everything went fine. I however knew nothing about PERC tests and consequences of land failing them. Originally from TX and that wasn't even an issue for us.
Thanks for continuing to help inform us.

[jennifereaddy]

I teach about superfund sites at the college in my Environmental Health course . Most students have never heard of these sites prior to attending the class. Same here...
I did not learn about superfund sites prior to attending my college Environmental Health class. Thanks for sharing. Great video.

[ThatsLife-ph]

The town of Lyndhurst in North New Jersey built a Shoprite supermarket, medical urgency care and little stores, pizzerias AND A PLAYGROUND!! over a super fund site after it was known the resident living on it for years all got cancer. There were a few streets where the majority of the residents got rare types of cancer. Yet they built a small shopping mall over it. Would not recommend to anyone to live or work on a super fund site for years. It may take years for the fumes to affect them but eventually it will.

[Crypto.Vantage]

00:02 - Understand Superfund sites before buying land to avoid costly mistakes.
01:48 - Consider fracking risks and resale potential when buying land.
03:34 - Real estate purchases are negotiable and have flexible financing options.
05:13 - Understand deed restrictions before buying land to avoid future issues.
06:53 - Understanding property encroachments, easements, and the importance of title insurance.
08:38 - Understanding land purchasing closing costs is crucial.
10:13 - Understand due diligence and critical property factors before buying land.
11:59 - Understanding mineral rights and finding affordable land deals.

[ThatsLife-ph]

Living near a Superfund site can increase the risk of exposure to toxic chemicals, which may lower life expectancy.

[peterpiper]

Because of all the trickery involved in purchasing land, I and others whom I know, live in our vehicles and we have avoided ALL the problems mentioned in this video. We are all happy and thriving and park legally on property owned by towns, national parks, and all sorts of places not owned nor advertised by thieves.

[ceilconstante]

WOW! That was to the point and painless and everything I knew nothing about in one short video!

[quentincaldway]

You're an absolute blessing! I appreciate who you are and what you're doing! Thank you for sharing such immense value with us!

[MsMyhouse]

As far as what you want to do with the land, make sure and look up the zoning of the land. It will also restrict what you can do. The deed may not show this. Call the county of city it is in. And get title insurance in case someone comes along and says they inherited it, or have an easement over it, or the survey is wrong, etc.

[ticktock]

People have to do their research. One high-end neighborhood in my area was built 30 yrs ago on top of a dump. Yes, a dump that had been used since the 50s.

[JonHolland-zz]

I'm really enjoying your videos, the information is worth gold; literally.

[jamesbrewhelm]

Get the survey as soon as you get the property. Some states have limitations on when you can run a new survey, like grandfathering in after 40 years. The new adjacent owner must establish the new property line within 10 years or be stuck with the 40-year mark.

[ianthornhill]

Most banks won’t give a loan for land under $50k so the owners looking to sell typically seller finance.

[eliinthewolverinestate]

I like tax sales and foreclosures. Torch lake here in MI is a super fund. Superfund sites are listed online as well as list of nuclear reactor accidents in U.S. too. We bought our property with cash. Things we didn't know where set backs from neighbors property and from easement/road. Which varies by county here. 10 acres and set backs means only 2 residential houses. Can have ag building where ever on property. I find I like reading what the title company finds. My property had lots of interesting stuff with it being former resort land. Even was leased before for gas/mineral exploration. Think I found the bore hole on my property. Which had a path cut in the woods. That cut is now where my septic sits now. I have wetlands and riparian zones. I am on a back lot with 3 navigable creeks flowing into the lake.

[yettabetta]

I’m going to go head and subscribe now. You’ve been dropping gems.