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How to buy land- for sale by owner
johnnybravo300
post Jan 17 2018, 12:25 AM
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I'm looking at a piece of off grid land that's for sale by owner. I've only talked to them in email and we should be meeting Friday if there's not too much snow up there but I've never done it this way. I've been through the house buying process 4 times in the past but the realtor did everything and I just signed....and they were regular mortgages for regular houses.....not sure on this.
Do I need a lawyer for anything? What paperwork should I expect to see? What questions should I ask?

I'm only looking at this land for now and we haven't negotiated anything so as for now I'm just a shopper but I'm interested. He said he bought it years ago to put some money away and I have a feeling it was a patented claim but he's never used it for anything and it just sits there. He doesn't seem to know much about it or the area, just that "it's a rough road and lots of snow up there" hehe.
I asked him if the land came with mineral rights and he said yes, and timber rights which is why I guessed it was a past claim. Most of the private owned land in that area is the same, or old old ranch land.

If anyone has experience with this or can give me some advice I'd sure appreciate it.
My wife and I are driving there tomorrow to see the conditions before I have these people come out. If it's snowed in and we can't access it there's no point but if we can get in we are meeting them Friday to talk.

He also mentioned that he would take part payment in trade so I'm guessing he isn't hurting for money. I asked him what he considered of trade value and he said make an offer. I do have a few things he may want but I don't even know what's legal when it comes to that kind of thing.

Anyone know this business?


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Colorado Roots
post Jan 17 2018, 03:48 AM
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QUOTE (johnnybravo300 @ Jan 17 2018, 01:25 AM) *
I'm looking at a piece of off grid land that's for sale by owner. I've only talked to them in email and we should be meeting Friday if there's not too much snow up there but I've never done it this way. I've been through the house buying process 4 times in the past but the realtor did everything and I just signed....and they were regular mortgages for regular houses.....not sure on this.
Do I need a lawyer for anything? What paperwork should I expect to see? What questions should I ask?

I'm only looking at this land for now and we haven't negotiated anything so as for now I'm just a shopper but I'm interested. He said he bought it years ago to put some money away and I have a feeling it was a patented claim but he's never used it for anything and it just sits there. He doesn't seem to know much about it or the area, just that "it's a rough road and lots of snow up there" hehe.
I asked him if the land came with mineral rights and he said yes, and timber rights which is why I guessed it was a past claim. Most of the private owned land in that area is the same, or old old ranch land.

If anyone has experience with this or can give me some advice I'd sure appreciate it.
My wife and I are driving there tomorrow to see the conditions before I have these people come out. If it's snowed in and we can't access it there's no point but if we can get in we are meeting them Friday to talk.

He also mentioned that he would take part payment in trade so I'm guessing he isn't hurting for money. I asked him what he considered of trade value and he said make an offer. I do have a few things he may want but I don't even know what's legal when it comes to that kind of thing.

Anyone know this business?


Contact a local realtor or attorney.
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Crusty
post Jan 17 2018, 06:41 AM
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Agree you need to protect yourself and consult a professional. Lots of folks out there in real estate so you likely know someone that can look at it for you as a favor or for a small fee. Cheaper than getting scammed.

Good luck!


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johnnybravo300
post Jan 18 2018, 12:18 AM
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I do know a realtor and a good lawyer so I'll check with them. Deciphering that paperwork would take me months hehe.
This spot we looked at today wasn't what I hoped. The snow was knee deep so we took our skis and got out just as it was getting dark and the temps were dropping.
I don't know why someone wouldn't mention that the property was on the top of a mountain with no water but it was a fun ski out. He said it would make a nice cabin site but I can't imagine hauling building materials up that haha.
He was asking 22k for the ten acres but it's not worth anything to me. I really dislike shopping.
On to the next prospect!


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Crusty
post Jan 18 2018, 06:53 AM
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Next time get the coordinates and save yourself a lot of time and effort and recon it on Google Earth. You could have seen where the property was, the elevation, terrain, proximity to water...


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johnnybravo300
post Jan 18 2018, 08:47 AM
Post #6


Rock Bar!
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From: South of Gunnison in Gold Basin, Saguache County
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He had a map posted with a pin dropped but it was miles off from the directions he gave me haha. "Past the bridge, past the meadow, take a right up the hill" type thing but we got there eventually.
I couldn't see his turn through the trees on google and it's not a marked road so wasn't on the map. Good thing it was close to home!

I never can seem to get good coordinates from people or even decent directions half the time. It's like they inherited it from Grandpa and they've maybe been there once?

Forget getting a realtor to go with you, if they have a realtor...they just give you a blank stare if they even reply at all. They aren't taking their Prius up there!


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