Master's Tips for Buying Rural Property (2 of 8 in a series)

Help in your search BUYER’S TIPS 2

The number of sources and listings are endless, so a good rule of thumb is to begin with a broad selection (so you feel like your search was comprehensive) and then narrow it quickly.

You may search multiple listings for the area you determined to be desirable. There are several sites on the web (many linked to real estate agencies that may help you), or you may telephone an agent local to where you are currently for some suggestions.

If you have access to the internet, use a search engine to find the available land near your desired location, be it “for sale by owner (FSBO)” or a realtor’s listing. Search: land for sale southwest Virginia or realtor south central Virginia, etc. Does the town or locality have its own website with real estate listings? Check it out…

Real estate agents and buyers agents can be very helpful. It is recommended that you
interview the person you plan to work with and make sure you both have a clear
understanding of what you are looking for, how much you can really afford to pay and
how much you have to work with as a deposit and down payment. Full honest disclosure is important to not waste your time or that of agent.

Make a visit to the area. Go when you have ample time, so you can really engage with the town/city and its points of interest.

When you arrive, pick up a local paper and any “trader” publications-- they often have a wealth of information, and you may check the classified ads for properties currently on the market. While browsing, you may learn of an upcoming auction of property or an estate sale. There will also be some free magazines available with the local realtor.

Visit the Chamber of Commerce to pick up some materials; they generally know (or have contacts who know) who owns what and who’s selling.

You may wish to do a little advertising of your own. Prepare in advance some business or personal cards with your contact information, and encourage acquaintances to let you know of any possible buys they stumble upon. Tack onto a public bulletin board a half-sheet request: “Wanted…”, with tear-offs, so they may respond to you. You could place a wanted ad in that local paper you picked up. It may be a real bargain if it saves you time and energy.

Try to end up with a few properties that you will want to look at in more detail.

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