How to Buy Cheap Land

Are you wondering how to buy cheap land with the hopes of making a large profit?

There is much talk about buying cheap land and becoming rich with only a small investment in a short amount of time. Many have heard about cheap government land for sale, but do not know the details about what this really entails. There are different types of cheap land including farm land, vacated land, foreclosures, pre foreclosures and more. Some of these are inexpensive, but some are not such a great bargain.

Is it really possible to buy cheap land? Read the steps below to find out how to buy cheap land and if cheap government land for sale really exists.

Difficulty: Challenging

Instructions

1. Avoid scams -
   
   Before you begin looking to buy cheap land, remember that you want to avoid anything that sounds like or looks like a scam. Also make sure to talk to your real estate lawyer before signing any real estate contracts.

2. Don't expect to find free government land -
   
   Years ago, the government used to give away land for free. This has stopped a long time ago. Nowadays, even when the government does give away land, it is not necessarily cheap land. Usually the government sells land at fair market value. So be careful - just because it is government land does not mean it is cheap.

3. Look carefully at where you are buying -
   
   Just because land seems cheap, doesn't mean it is. With real estate, location is everything. If you are buying in the middle of no where, the land might be cheap, but considering there is nothing around and you will have to set up even the basic living essentials yourself, the costs can add up.

4. Buy foreclosures and pre foreclosures -
   
   Sometimes you can get cheap land by buying foreclosures or pre foreclosures. Foreclosures are often sold by the government. Be careful with these also as they are often not cheap and are often very run down. Make sure to check out the neighborhood and find out what real estate values are in that particular area.

5. Look into buying in a low population state -
   
   There are certain states that have a low population and will give away free land or let you buy cheap land in order to increase their population. You can often get a good bargain with these, but be careful as there are often conditions regarding minimum amount of time you must live on the land, type of house you must build and more. Also be sure you are willing to leave the big city and live literally in the middle of nowhere. See resources below for free lands in Kansas, as an example.

Tips & Warnings

• Always talk to a lawyer before signing any real estate contracts
• Make sure to check out the free land or cheap government land carefully to know what you are getting into before signing up
• This information is taken from various research sources

Resources

• Kansas Free Land

[sonni57]

on 5/31/2009 Good tips on buying cheap land it sounds like a good idea.