I understand what it means to find a piece of land that’s perfect for you. I offer bare land loans for building or recreational land, including land that’s open, timbered or a combination of both.
Bare Land Loans Support from start to finish.
Before you start looking for properties, you need to decide how you plan to use the land. Whether for your home build or your next adventure, your desired land use will determine the type of property that’s right for you.
1. Fixed rate options on bare land loans: fully fixed-rate loan as well as adjustable-rate options to choose from.
2. Land equity: acreage, along with any site improvements and outbuildings help you qualify for the maximum loan amount.
Buying bare land is different
Property Access
Be sure your land is accessible or that you understand what you may need to do to make it so, as access issues can impact property value.
Water
Having a body of water such as a pond or creek on your property has its benefits, but you’ll want to confirm factors like flood zones. If you plan to build on the land in the future, you’ll also want to evaluate if you can drill a well and install a septic tank.
Surveys & Taxes
If there’s no existing land survey, you may want to complete one to determine where boundaries lie.
Some states have laws that allow certain land to be taxed on present use instead of market value. If you purchase property currently enrolled in a reduced tax program, there could be penalties if it’s not re-enrolled.
Land Management
If the property you’ve purchased is open acreage, the land can be maintained as is.
If you’re considering selling the timber on the land, hire a professional to walk the property, count and measure the trees and provide an estimate.