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Buying A Home Site |
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Dear Edith: I am looking for land for a home site. I don't quite know how or what to do. Second, how should I go about acquiring a loan? |
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Call real estate brokers who advertise in areas that interest you, and discuss your wants.If you find a site to buy, make sure the contract provides that you won't be committed until and unless the parcel is approved for building by the local authorities. It can be difficult to borrow from a regular lending institution for the purchase of vacant land.Often the seller takes back financing, if the buyer seems credit-worthy.No harm in contacting local banks, though.Occasionally you find one that will lend on a building lot. |
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Edith
Originally published on January 6, 2006 |
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