- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Thinking about buying a small piece of property, questions
Posted on 9/29/15 at 11:58 am
Posted on 9/29/15 at 11:58 am
So I found a couple acres on a river, and if it works out it could be my dream property to build a house on down the line. I don't foresee any problems getting approved for a loan, the price isn't real high anyway.
My problem is, I've never done anything like this and have no clue what I'm doing. What steps do I need to take? What inspections need to be done? Please steer me in the right direction. Thanks folks.
(Property is on a dead end street, houses around it but not a neighborhood.)
My problem is, I've never done anything like this and have no clue what I'm doing. What steps do I need to take? What inspections need to be done? Please steer me in the right direction. Thanks folks.
(Property is on a dead end street, houses around it but not a neighborhood.)
2
Posted on 9/29/15 at 2:49 pm to indytiger
this is going to be a raw land loan. Contact the bank you want to do the loan with and they will guide you through the process. all appraisals and inspections have to be ordered by the bank.
Posted on 9/29/15 at 5:26 pm to indytiger
Got no clue other then this is something I would like to do down the road. How did you find it? Any good website recs? Always just been curious what I would need just to buy the land. Good Luck
ETA: Sure you thought of this but depending on the area, mineral rights. Make sure you have them if it is an O&G area. Obviously for financial reasons but if I am not mistaken, if you don't own the rights, the previous owners can go over your head and come to terms with a O&G company and lease your property. Sounds unlikely though since its on a dead end and houses all around.
ETA: Sure you thought of this but depending on the area, mineral rights. Make sure you have them if it is an O&G area. Obviously for financial reasons but if I am not mistaken, if you don't own the rights, the previous owners can go over your head and come to terms with a O&G company and lease your property. Sounds unlikely though since its on a dead end and houses all around.
This post was edited on 9/29/15 at 5:31 pm
Posted on 9/29/15 at 6:20 pm to The Connoisseur
It's 2 acres, he doesn't need to worry about mineral rights.
Posted on 9/29/15 at 6:38 pm to barry
Didn't see that. Good call.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News