Newsflash: Advice on buying a rural FSBO? (CA)

I’ve found a piece of property in a rural area that’s currently for sale by owner. The seller lives in my town, and we went out yesterday to look at the land and make sure it ticks off all the boxes on what I’m looking for.I’ve invested in several properties (houses) and one FSBO, but this is my first foray into buying rural land, and with it being a FSBO I’m aware there are a ton of pitfalls to be aware of. The seller is a trustworthy guy, but he used it as a playground (read: hunting) while I’m looking to build a house and work remotely (yeah, internet access is one big question) so he’s never looked into whether it’s possible to build on the land.So my big question to start out is, for buying rural property, what are the big items that you would recommend I start with on my due diligence? I know the first thing is to call the county and find out what pulling a building permit would entail.Few bullet points:I’ll pay cash for the propertyIt had a house on it in the distant past (burned down in the 70s)There is no electrical to the property, although there are a few houses on adjacent properties so presumably power can be run to itThere is TON of water, very rare for that area. Two creeks, a natural spring and an artesian well. No well has been dug on the property for residential use.The seller has a few other people who are interested but aren’t willing to pay his asking price. He would rather sell it to us as we’re prepared to pay full price, plus he knows us.

Read more at https://www.reddit.com/r/RealEstate/comments/6dujwd/advice_on_buying_a_rural_fsbo_ca/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s