Buying Land in Texas! Full process and step-by-step guide of purchasing a Farm or Ranch.
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- čas přidán 4. 06. 2024
- Learn the entire process of purchasing a farm or a ranch. Michael Morrow covers the step by step process from securing financing to closing and gives you a ton of TIPS and FREE tools along the way.
Much of the information is related to a Texas Ranch transaction but the concepts can be applied no matter where in the United States you plan on purchasing.
Video Outline:
1. Securing Financing on rural land or ranch
2. Finding a ranch
3. Making and offer on a ranch / Rural Land Contracts
4. Inspecting rural land / Free Resources
5. Rural Land Surveys
6. Title Process
7. Closing on Rural Property
ARTICLES & RESOURCES:
1. This article is the full length copy of this video with all included resources.
landassociation.org/how-to-bu...
2. This article outlines my top 7 free online tools that you should use in your land buying process.
landassociation.org/top-7-onl...
3. This article outlines the 10 things you should know about a property before you purchase it.
landassociation.org/10-things...
FREE RESOURCES:
For more information about your land, check out www.LandAssociation.Org
It’s 2024, I’m a realtor looking for my own land- but will help anyone in the DFW and surrounding areas. Good video 😊
Michael, this is the best Video i ever watched on Land Buying. Appreciate your time for making this for us
I'm very glad you found the video to be helpful, thank you for the comment!
@@LandownerTV Michael, I contacted you several months ago and now we are ready to start looking for our place in central Texas . Could you give me your contact info . Thanks
Holy smokes, this was a helpful video. I almost dropped a chunk of savings on some land this weekend (one of these ranch splits). Didn't realize how laughably unprepared I was until watching this video. Thanks!
Wow! Thank you for the kind comment, I'm so happy this video was able to help you. Please feel free to let me know what other information would be helpful. Best of luck on your purchase!
@@LandownerTVright on
great video, thanks for putting your time on this and helping everyone!
excellent Video !thank you for all the helpful advice ! i am looking forward to buying my first land in Texas! thank you!
I subbed because I appreciate you. People gatekeep knowledge like it will follow them into the afterlife.
Texas support for your channel Michael! Thank you for this video.
Thank you for the kind comment Roger!
Great video and thanks for the much needed info.....
Thank you so much for sharing. I am a realtor in Houston and am looking to purchase my own land and help other buyers as well
Great info just what I’m looking for
Great video, with great information! It's brief, but very informative.
Glad you enjoyed it!
Thanks, Nick from Australia , thanks for the info
Thank you so much for sharing this information ❤
Glad it was helpful!
Thank you. We are looking for land in East Texas and watching your video was very helpful. Thank you.
I'm so glad you found the videos helpful, feel free to reach out to me with any specific questions!
Good luck. Land in east Texas has doubled.....almost tripled in the past year or so.
Excellent Video. Thank you kindly!!!
You're very welcome, I appreciate the kind comment!
I grew up in Texas and went to school with someone (else) named Mike Morrow!
Thank you very much for the great video. Retired US Army here in the DFW area and always wanted to own a small piece of land for recreation, ATV/ shoot ect. THis is helping me get started on that journey to finding the right piece of property. God bless and thumbs up.
Be sure to look into the Texas Veterans Land Board! It’s a great program Texas offers its vets in order to purchase Raw land. I’m a vet in DFW, let me know if I can help!
Great video. I'm interested in buying land so the information was helpful. It's like being able to buy oxygen and sunlight
Glad it was helpful! Best of luck in your journey to purchase!
hi Michael, thx for sharing your knowledge! i've found myself a bit stuck when trying to research limitations of a given parcel (county restrictions, deed covenants, if septic and/or wells will likely be permitted, etc)... is there an easy way to go about this which links rules to an exact parcel? i just want to run down my checklist quickly (max height, sqft min/max, number of dwellings allowed, etc) so i can get an offer in.
I really appreciate ur video
so useful. thank you.
Thank you for the nice comment! Feel free to suggest future video topics you'd like to see.
EXCELLENT!!!!!!!!!!!!! VERY THOROUGH AND DETAILED... MOST APPRECIATED!!
Amen
Retired, Veteran
Thank you Brad for the nice comment! I'm so glad you enjoyed it. Feel free to suggest future video topics you'd like to see.
01-may-2022.Thanck you for the info,l do have some questions, my Greath grand father bought land in Texas back in 1943.l don,t know were it is or how much of it i still untouched. 2nd question are there water rights with contract??? Eilliam in Germany.
Nice video thank you hope you get plenty of business from it !
Thanks Jamison! I love hearing that people get value from the content.
Super helpful
Thanks for the info bro... Good to know
Thanks for the comment!
Is the Texas Veterans Land Board competitive compared to the competition?
Thank you for this video. 1 subs from here
This is so interesteing .. can i get finance to buy undivided interest of land?
Thanks!
You're quite welcome!
i'm looking to buy some land outside of dell tx, but it's only 9k. can i still get a loan, and should i still hire a buyers agent?
Yessss!
Thankyou thankyou thankyou
Land nut want to head back to West Tx to be near family. I want to sell here so I can buy land over there. I would need to do what I believe is a contingency plan. How do I prepare for this?
That’s nice but it would suck for the next property that would get no water
Is there anyway to buy land that already has all the surveys and stuff done so I dont have to wait so long?
But you can't buy land anywhere in the US, you can only rent land from the government on a transferable lease. If you don't pay your rent ( called taxes for some obscure reason) the government will sell your lease to someone willing to pay the rent at an auction.
GYATT
@@N3003Q ?
Super unconstitutional
Allodial title
AG exempt is the way to go, do your homework before buying land.
How much would all the different services cost?
What can I do if it’s owner to buyer no agent?
It’s interesting
Is there are special reg’s to be able to build a grass runway on a property?
Thanks for commenting, I'm not aware of any special regulations for building a runway. You may want to start with the Flight Standards District Office (FSDO) near you and see if they need anything. Best of luck!
I have seen many videos, and no one mention how much they pay on capital gain taxes when selling the land.
Just an opinion of a laymen, if there is a hockey stick spike up on the chart, wouldn’t that be a bad time to be a buyer?
Hello Karl, thanks for the comment. Buying land isn't always about purchasing it as an investment. Often buyers are looking to seek utility from the property by doing things like hunting, wildlife watching, and other activities so land value appreciation can be just a bonus. If looking at the chart (land values) strictly from an investment perspective you could question whether those prices are destined to continue to climb at that rate. In fact it's very unlikely they do; however, history also shows us that values don't drop very much even during "crashes". Take a look at the price decrease in 2008-09, they were quite mild compared to the broader financial markets. So I would say there is almost never a "bad" time to buy. Buy hey, I'm probably biased because I love land so much.
Are you a buyers agent? And if not , how do I find one?
What about usda home loans
Got a question
We have a credit union to loan us the money for the land and possible transaction fee .we want buy 10 acres next to 5 acres we currently own ,we have talk to the sellers and have agreed on a price.and have talked to the bank....what else exactly do I need to do.? Where does the title commitment come in .do I contact a title company befor and after signing the contract ...what should thr contract basically involve ...we know they have owner ship of land ...
Hi there, apologies for the slow reply I hope it's not too late. Once you get a contract signed you can send it to a title company to get a title policy, they will also act as your escrow agent. You can reach out to a title company now and ask questions but won't formally engage them until you have a contract. They will confirm their ownership (and many other things) through an extensive title search and write a policy insuring the validity of title. Your lender will often want to see this. I hope this was helpful!
Could you do a video on construction loan lenders?
Thanks for the comment Justin, that's a great idea and a common question. I'll put it into the video queue!
how do i get in contact with you? interested in buying
Interested in buying a piece of land but I don't have a buyers agent can I hire you?
Really struggling with the financing side of things right now after learning about the different types of land loans
This land is too expensive
You mentioned Signatures. I was going to buy a piece of land (I am new at this) and the realtor seemed to indicate everything was going to be an eSignature. The contract would be eSigned, the seller was not going to be at the closing so I supposed he would eSign it. Is that the new way of conducting business? Thanks.
Thanks for the comment! Your realtor is correct, e-signing is very common now, and happens in most contracts I'm a part of. Best of luck on your purchase, what part of the world are you buying in?
Dual agency is illegal in Texas. Also need to save yourself some hassle and do some of the due diligence before the offer. A good local land agent will have all the links on his/her computer to grab a slew of info up front to help decide whether to even spend time on an offer.
Well said Country Sister, thank you for the helpful comment!
@@LandownerTV your content is wonderful! Happy to follow and learn more about this crazy complex, fun business
Mineral rights?
What contract do i use as an agent and my buyer is using USDA
It would depend on the type of property you're placing the contract on. Typically the "unimproved property contract" or "farm and ranch contract"
Is it possible to buy a land for non citizens?
Michael I can’t find a way to personally contact you to hire you as a buyers agent. I’ve googled your name and looked on your land association website.
Hello Colin! Feel free to email me at Michael@landassociation.org
What if you’re veteran? Can you do land with VA Loan?
No. VA JUST finances the home construction if you own the land
Credit score typically needed
How can I get in contact with you?
Are you a buyers agent? Can I work with you?
I am looking for a piece of land anywhere in Texas from 1 acre to 10 acres where I can park a 399 sq ft house on the wheels Or build a house under 700 sq ft. How do I go about doing that? Can I hire you as my agent, Mike?
I have 3 Lands close to lake in Tx. Any buyer??
Hi this video was posted 9 months ago before inflation and recession on the verge in 2023. Is Texas market still sellers market or is trending towards buyers market? As a land agent what is your personal insight? Will appreciate your reply. Thank you. ..Jay
Thanks for the comment Jay Jay! Yes, times have certainly changed. The market has certainly cooled since I made this video; however, average days on market and inventory levels are still lower than historical averages. I'm seeing fewer "multiple offer" situations and getting fewer inquiries than I did a few months ago also. I'm also getting this feedback from title companies and lenders that I've worked with.
My land has increased 4 times in last 3 yrs, so glad I bought it 3 yrs ago!
Idk how but my Cuban dad figured it out somehow.
Do you consult?
In the chart real prices which factor inflation are flat. The red "nominal" are in current dollars.
Excellent observation Samy, and thanks for the comment. They do appear flat, especially compared to the nominal amounts, however real median prices have increased 31% from Q1 2020 to Q1 2023. It will be interesting to see what happens through the rest of this year as higher interest rates have an opportunity to cool the market.
Michael, what is the best way to get in contact with you?
Feel free to email me at michael@landassociation.org
IF it is Raw Land, your first step... visit the neighbors to see how far down they had to drill to get water!!!
Many pieces of land is for sale because there is no water there! a deep well will cost tens of thousands $$,$$$ ...
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Would 25$ hour work when buying land I'm working as lineman that's the start
Hey Victor, I'm assuming you're asking because you intend on obtaining financing for a property. The real answer is that it will depend on the lender. For raw land I would suggest starting within the "Farm Credit System" they are comfortable with raw land financing, otherwise you can try a local bank (instead of a large chain). They'll look at your credit score as well as your earning history among other things. Best of luck!
@@LandownerTV thanks
Yes. Get someone to owner finance for you
Greetings Michael,
I am looking for a sale agent, to buy a piece of land in Texas, how can I found one?
Greetings Haasan! Which part of Texas are you looking in?
@@LandownerTV Im looking around Killeen area
Mike, Quick one , Do i pay annuall taxes/fees on vacant land ? Thanks
Hey Nick, thank you for the comment! Yes you will pay taxes on vacant land just as you would if it had improvements or if it was occupied.
Yes
If you can buy agriculture land that is the best. Cheap taxes.
I’m interested in contracting you as a buyers agent if you are still available, i am located in San Antonio Texas
Thanks for the comment Bobby! Feel free to email me Michael@LandAssociation.org
Are you are listing agent ? How can I contact you?
Yes I am, I'd be happy to help. Feel free to reach out directly Michael@LandAssociation.org
Are you a buyers agent 🤔🤔
Yes I am, feel free to reach out anytime
@@LandownerTV Hey I am a foreigner do you deal with locals or can foreigners too land through you?
@@dv9239 why don't you buy land in your own country?
“It seems like everywhere I went I would get answers to questions but people would only paint a small piece of the picture for me”
“There were a lot of things I just didn’t have time to cover in this video”
Thanks for the comment Jacob, both points are certainly true. Let me know if you have any questions I couldn’t cover in the video.
I want some land. please help me find some property for my children. This will be my property land owner. Thank you so much!!
Any cheap land i can buy around ft.bliss where i can build bunker, build project cars, plant a jungle, shoot guns all day or night nobody will whine bitch and complain? Can u help me purchase my desired habitat!?
Hey Christian, thank you for reaching out. Apologies for the slow response here. I know "cheap" is relative but I don't know of anywhere with really cheap land anymore. Especially if the land is convenient to a metropolitan area. I'm not familiar with the area around Ft Bliss. Have you tried searching the large websites like Zillow?
I have land in west central Texas and nobody complained about anything I do (nothing illegal), I am rural no big city near me
I would be careful about buying land near texmex border, too many cartel gangs. Land around abeline is still not too high
@@sunfirejewels7530 Welp wut kinda weak soldier am if cartel gang scares me lol i should be extremely more powerful and brutal than them lol if they wanna fux around they all must fold, no matter how many welp perhaps someday, for now i must admit, power level too low noobish fragile weak 😆
I will not buy over asking price
Ok Marie. Then you may have to wait ok?
i wanna buy land at current land prices not these greedy prices people put out
This video does a great job at explaining the process of buying land. Good luck finding land at a reasonable price, Chad! If you ever need help looking at land deals or funding your project(s), I’d be more than happy to have a chat.
@@ifundland i know people who sell at actual land prices that vet buyers to keep people like you snatching it up ... yall are the reason for the housing bubble ... but hey, i got 4 acers at the back of my property ill sell you for 100k an acer since you think thats a good deal ...
Most of this information is moot. Just do owner financing, no banks, no agents, no money lost.
I have purchased 100 of different acre parcels in Wyoming. It is very simple to buy land. Some for my own some for resell. You skimmed over most financing required 20% down. And you dont need buyers agent. I have purchased land directly from owners. All money is saved. Research more this guy has limited information
Thanks for the comment. This is meant to be a part of research for finding out more on buying land. It’s hard to cover everything in a 15 minute video. Financing in particular could use its own video series. I would also agree that the process appears simpler once you’ve done it 100 times but for a first time buyer the process can be intimidating. That’s why I encourage a buyers agent, engaging someone with experience and it doesn’t cost you anything. If you have other good resources for buyers I’d love to learn about them.
I wouldnt step foot in a state that is anti American
Do you consider texas to be anti American?
I assure you that the rural people of Texas are not anti American, quite the opposite. Now if you are talking about people in the big city (like Austin, Dallas. Houston) then yes they can be very liberal, left leaning, but average farmer rancher are very conservative and LOVE this country, and LOVE Texas
@@sunfirejewels7530 your a state run buy republican dictators out of touch with reality.
I would recommend not reading from a script try to flow more
Can I buy land in Texas from the UK?
Hey, nice information and is there any way to get your contact information?
Hey bala, feel free to email me Michael@LandAssociation.org
I’m looking for a agent to buy land. Can you give me your email so I can reach out?
How do I contact you?
Feel free to send me an email! Michael@landassociation.org