How to buy land in Arizona CHEAP
Arizona, the Grand Canyon state, offers ancient ruins, modern cities and scenic desert views. With its warm winter temperatures, Arizona is the destination state for many so-called "snowbirds" who spend the summer in a cool summer climate and move southwest to Arizona for the winter. You can get good deals on Arizona land if you have patience, cash and good negotiating skills.
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Instructions
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Liquidate your assets or borrow money on an unsecured loan until you have enough cash to buy the outright, without financing. The cliche "cash is king" is especially appropriate when it comes to real estate. Having the means to make a firm offer that is not contingent on lender approval increases your negotiating power and increases your likelihood of buying property under market value.
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Find several plots of land that interest you. In Arizona, as in other states, land costs less as you move away from centers of population. In Arizona, the 10 most populous cities, according to 2010 Census Bureau records, were Phoenix, Tucson, Mesa, Chandler, Glendale, Scottsdale, Gilbert, Tempe, Peoria and Surprise. Outside of the Phoenix metropolitan area, Arizona's largest cities are Phoenix, Tucson, Yuma and Flagstaff. To find cheap land, search for land away from these populous areas. Consider several parcels of land at once so that you don't attach emotional value to a property just because it is the only one available at the time.
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Research the land, its seller, and sales of similar property using online and offline sources. Find out if the seller is an individual owner who lives near the land or a consortium of out-of-state heirs who may find it burdensome to own land in Arizona. Each county in Arizona assesses and collects its own property taxes, so check the county assessor's office to find out if the taxes are current on the land you want to buy. Delinquent property tax payments can signal that the seller is under economic hardship and needs to sell quickly. Bank-owned property may sell for prices well below market value.
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Contact the seller or broker and negotiate the best deal possible. Don't reveal too much information at the outset. Tell the seller you are interested in several properties so you don't seem desperate. Research on negotiations suggests that using the word "because" and providing justification for what may seem like a low offer strengthens your case. For instance, explain that you are offering a higher price per acre than a nearby parcel of land sold for, or that you recently paid even less for similar land. Stress that your offer is a cash offer with no contingencies and that you can close on the sale immediately.
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Tips & Warnings
Consider properties that are offered for sale by owner and by brokers. You may save money on a real estate broker's commission by buying directly from an owner; however, owners often overvalue their property, and a real estate broker can sometimes help a reluctant owner understand that a cheap offer may be the best offer he can get for the property.
Put a short time limit on your offer. Experienced mediators find that most deals close when time is about to run out.
References
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