If you have found the perfect piece of property, the next step is to contact your Realtor and close the deal. If you have cash on hand to pay for the land, you won’t have to worry about obtaining financing from your banking institution. Most people have to contact their bank and ask for a loan to be able to finance the land. If your credit is less than perfect, you can acquire the land purchase by means of a land contract. By knowing the steps to take along the way, you can make your land purchase and financing experience a smooth one.
Using a Bank or Financial Institution - Locate the land that you would like to finance and take note of the exact address of the property.Contact your Realtor or your attorney to make an offer of purchase.
Contact a land surveyor to assess and perform a perk test on the property.Take the perk test results to the bank or financial institution and complete the application process.
Using a Land Contract - Locate the land that you would like to finance and then take note of the exact address of the property.Contact the land owner or your attorney or Realtor to see if the owner would be open to financing the land on a land contract.