This guide produced by ZARZAR LAND, one of eBay’s most prominent land sellers, is to provide information for people inquiring about purchasing land via the Internet. The information is displayed in a user friendly lay-out and the purchasing process instructions have been condensed into 3 easy steps. Take a look!
Step: 1 “What is it you’re looking for?”
There are several land sellers that sell property with buildings already on it, some land sellers sell undeveloped property that you may or may not be able to build on. Be sure that you read every word of the listing carefully. Top land sellers should be able to provide you with an eclectic amount of properties from various states throughout the nation. ZARZAR LAND sells properties in California, New Mexico, Colorado, Texas, Michigan and Florida to assure that they are providing their clients with choices so they may purchase a property that satisfies their needs.
How do I know that they really are selling me land and it is not just a gimmick?
True land sellers should be able to provide you with a parcel map. Some land sellers refer to parcel maps as “plat maps”. These are plotted maps that show where the property is located by using the unit, track, block and lot number. It is legal proof that the property does exist. Most properties should have an APN (assessor’s parcel number) ATN (assessor’s tax number) or Legal Description which is used to describe where property is located using directions. For example: NW ¼ of SE ¼ Section 5 Blk 3 Unit 1. This is used until the property is assigned an APN or ATN number. Keep in mind that if properties are being sold for a cheap price it is probable that the company has not visited this property and it should be stated on the listing. Be sure to read all disclaimers, because if you purchase the property without fully reading the listing and conducting your own research you could end up unsatisfied. Reputable sellers should provide disclaimers on their listing to make sure the client does not have any surprises after they purchase the property. As you can see, top eBay land sellers such as ZARZAR LAND have several disclaimers because they are honest with their clients up front. You can decipher a top land seller by viewing the land sellers who are placed at the top of the eBay land category acquisitions page. Purchasing property is a great investment and you want to make sure to take every precaution when doing so.
How do I know if I can build on this land? Are there utilities, road access, etc?
Conducting your own research guarantees that you will be completely sure of the correct answer. Regulations regarding properties tend to change, so the county will be able to provide you with the most updated information. Simply call the countys assessor’s office which you can search through an Internet search engine or you may contact the seller and they should have some contact information for that county. Contact the county where the property is located and provide them with the ATN/APN or Legal Description so they may provide you with all of the updated limitations and information regarding that specific property.
Step 2: Bidding
This is the second step because you should not bid on a property unless you know you want to purchase it. This is a system land acquisition companies use to make the purchase process a little more competitive. Clients enter bids on a particular property, but other potential clients may want that same property and enter in a higher counter bid. The winning bidder at the end of auction is the one who receives the property. It is important to note that the winning bid amount may have a minimum requirement of anywhere from $1, $100 or a hidden reserve price that only the seller has knowledge of. So make sure your bid meets those requirements if they exist.
Types of Auctions:
2. Straight Sale
A Normal auction is when the winning bid amount is the down payment price which is then subtracted from the total price of the property. ZARZAR LAND uses this method for most of their auctions because it allows people to purchase properties at low initial costs and then continue to make low monthly payments until the property is fully paid for. Legitimate land acquisition companies should state on their listings that client is only bidding on the down payment. ZARZAR LAND does this because they do not wish to trick their clients in any way.
A Straight Sale auction is when the client is bidding on the full price of the property. This means that there will not be any monthly payments involved, but perhaps some flat fees such as a $199 closing fee or other applied flat fees. This is a very fast method of purchasing property because you pay for the entire property all in one payment and then the transfer of ownership is expedited. Most sellers will have the phrase “straight sale” stated in their listing somewhere to make the client aware of the type of auction they are bidding on. ZARZAR LAND states the straight sale in the title of their listings to fully inform their clients.
Step 3: Purchasing
This is the last step to finalizing your property. Large Corporations will accept several types of payments. ZARZAR LAND accepts land payments through PayPal (an online payment service), personal check, corporate check, e-check, cashier’s check, money order, credit card (as long as they under $3,000), over the phone payment, electronic wire transfer payment and other payments in foreign currency are also accepted.
Some companies will offer discounts if the client pays in full within 30 days from the end of auction. ZARZAR LAND offers a 15% discount on the total price of the property as long as the payment is received within 30 days from the end of auction.