Any advice on buying land?

[wayner123]

What is the goal for the future in buying this land? Do you plan to farm it? Subdivide it? Etc?

Have you considered the taxes that will need to be paid each year?

[elderboy02]

Originally Posted by wayner123

What is the goal for the future in buying this land? Do you plan to farm it? Subdivide it? Etc?

Have you considered the taxes that will need to be paid each year?

Right now, we are just buying it to have it. We won't build a house on it. Maybe just use it for camping, hunting, shooting stuff, ATV riding. That sort of thing.

I don't know what the taxes are on the land. My cousin and her family live literally right next door to the land and she said the taxes are very low around by them.

I am not sure how much the land is going to go for. The auction is this Saturday and we are going up to bid on it.

[yourchoice]

Even though you don't plan to subdivide or build on it, I would suggest finding out what the property is zoned (residential, commercial, etc.) and its minimum lot size. That would help you ascertain what the value may be (especially for the future if/when you want to sell it).

Also, being it's wooded; I would want to have a feel if any of the land would be unusable for its zoned purpose. Here in NJ, we have the Department of Environmental Protection (NJDEP) who determine if any of the land should be protected wetlands, and therefore unusable. That wouldn't affect your intended use, but again, could impact the property’s value, be it now or in the future. Unless the auctioneer has some sort of delineation done, you would have to assume or guess this based on what you see since the auction is Saturday.

I'd also want to confirm the property is being sold without any liens or judgments (clear title). Since it's going to auction, I would assume it wouldn't be any liens or judgments, except for the possibility of any municipal liens which carry over to the next owner. But I would want to confirm my assumptions.

Of course, NJ is a screwed up state from what I understand, so some of this may not be relevant in Indiana.

Good luck!

[wayner123]

Originally Posted by elderboy02

Right now, we are just buying it to have it. We won't build a house on it. Maybe just use it for camping, hunting, shooting stuff, ATV riding. That sort of thing.

I don't know what the taxes are on the land. My cousin and her family live literally right next door to the land and she said the taxes are very low around by them.

I am not sure how much the land is going to go for. The auction is this Saturday and we are going up to bid on it.

Like Pektel said 13 acres, isn't a whole lot for ATV riding unless you are building a track.

And like yourchoice said make certain you get the zoning and any information on wetlands and flooding that you can for the property. If you want help with this, just PM me the address and I can help.