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(Buying Land) Avoid These Mistakes
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- เผยแพร่เมื่อ 4 พ.ย. 2023
- The process of buying land is quite simply but there are many costly factors that can make it one of the biggest regrets of your life.
Wayne explains through his many videos the pros and cons of buying land. How to avoid costly mistakes and most importantly what you must always do when making a land purchase.
(Buying Land) Avoid These Mistakes: • (Buying Land) Avoid Th...
(10 MISTAKES) When Buying Land... : • (10 MISTAKES) When Buy...
(Warning Signs) Especially Buying Land... : • (Warning Signs) Especi...
(HUGE IMPACT) Buying Land and Building a House: • (HUGE IMPACT) Buying L...
(Get Permission) When Buying Land...HERE'S WHY!: • (Get Permission) When ...
Tragic Mistakes People Make Buying Land: • TRAGIC Mistakes People...
Stop Doing This!: • Land Buying Disasters....
Buying Cheap Land (Warning Signs): • Buying Cheap Land (War...
Rude Awakening For (Land Buyers): • Rude Awakening For (La...
Disclaimer: The contents of this video are strictly for educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. Please consult with professionals in such within the specific fields
say it out loud and think about how wrong this is...that land you own has taxes due to a county in order to continue owning it, who then makes you ask permission to make changes to.
It's messed up for sure
@@taylorsessions4143 it is and when is the people going to say enough is enough?thats the problem with giving ppl power is it will alwasy be abused
@@ckennedy109637 I definitely agree with you, but what I've learned about real estate laws is that someone at some point in time has abused one law or loophole in one way or another and having a due process may seem pesky at times but it really is a good way to provide some level of consistency to the people, for the people. As you stated, there is clear evidence of over reach and abuse of this concept.
I get why some restrictions are in place but some others are dumb
Our local, state and federal government are elected. Don’t like them vote accordingly. Unfortunately far to many people determine who they vote for on one issue! Regrettably when elected you get the who package. I personally like zoning laws. Think of it like this. You have one government and those restrictions are established in writing and if unjust can be challenged and changed. With regards to neighbors you have an unlimited supply and seldom do the agree or conduct themselves as you would. Pick your poison!
Land of the free my ass!!! We live in one of the least free countries in the world. I wish the government would stay the hell out of everyone's life.
if i'm buying an acreage and i have to get permission to cut down a tree that is solely on my land, i'm not buying. whoever puts those rules in place can have the middle finger.
Perk test, timber rights, contingent offers, restrictive covenants, and title insurance policy, I can now research thanks to you. ❤👍🏿
Happy to help.
Outstanding video that covers a lot of important ground in a short amount of time. Thank you for your knowledge and practical wisdom. We appreciate you!
Thank you!
I was looking at 18 ac for a reasonable price compared to most in the area. I did my homework before making an offer.
Am I glad I did! Turns out a large poultry company owned the 80 acres catty corner at the back.
I spoke to their operations manager and asked what their intensions were.
His answer, they plan to do an extensive expansion and fully develop the property.
Imagine, I would have had thousands and thousands of fowl as my neighbors!
That would stink! Literally
Could have sold it since they were expanding
Land is not yours if you need permission. Fee simple is feudal title, let’s get Land Patents back.
I saw good video on this topic th-cam.com/video/G-FT4e5JY5A/w-d-xo.html and th-cam.com/video/cIz3eYdNJmQ/w-d-xo.html and th-cam.com/video/iti5b8Up9lY/w-d-xo.html
It's A LOT of work to buy land and ensure that it's a viable property. My parents bought land years ago and gave it to me to build a house on it. I thought, "Ok, cool, just hire a builder and build my dream house." NOPE! It's not as easy as clearing land and start building. There are SO MANY things that could put a stop to your plans. I live in WA and as people know, it rains a LOT. So if you need septic, there is a high chance that you won't be approved for the number of bedrooms you want, if at all. And wetlands are always a concern with water running everywhere and you gotta be on the look out for even the tiniest streams that could make a large swath of your land unbuildable. I tried every which way to try to build and was only approved for a 2 bedroom house. I sold it. I learned so much about the process and I might try again at some point so I can build a dream home, but like this video says, you gotta do A LOT of homework.
It’s smart to employ the services of a local land expert because, like you said, different regions of the country face different challenges
@@TheRealWayneTurnerwhat is a local land expert? Realtor, lawyer or? Anyone wanting to invest in property needs to educate themselves first. Desire is not enough. Just like anything in like stupid is costly. I find most people who sell their services are marginally good at what they do. Can’t tell you how many times Ive caught their mistakes.
If I have to get permission to cut down trees I’m in the wrong county, perish, state, or all of the above.
Sometimes people choose to live where there are good paying jobs.
@@TomBTerrific Ben Franklin famously said those who would give up their liberty for security deserved neither. When you allow a government to tell you you can’t do something as simple as cut down a tree you’re beginning to give up your liberty
@@TomBTerrific …and those ‘good paying jobs’ are only found where there are deed restrictions and covenants? Unlikely… in fact, over the next decade, we will see the growing divide between free states and slave states. Jobs will flow to the free states.
So glad I found your channel Wayne, my wife and I are looking at land in the country to build away from the city. I didn't know half the stuff you have to know. THANKS!!
Thanks for subscribing! Let me know if I can help y’all at all in your search
HOA hits eject button. The only one I was ever in spent all their money on lawsuits. Then they wanted to raise the HOA fees. Just a circus show.
I think what you're talking about is paying homage to the town fathers when they make it about something other than money I'd be glad to
I've owned one home in my life, and I sold it years ago to move back to My Home state. And now I would like to buy land, but I watch your videos, and a few other peoples videos, but yours mostly about buying land and about what to do. And it's ironic that you say I'm not trying to scare you, but I will also say that I watch your videos with the intention of learning something about buying a piece of property and every time I watch a video I tell myself this is exactly the kind of shit.... what he's describing, are the reasons why I won't ever own a piece of property. A lot of your videos are great, but none of the stuff inspires me to buy a piece of land. It seems like there's always a different list of shit to look out for so it just doesn't seem worth it.
My intention isn't to scare anyone away from buying land, I've had to learn a few things in life the hard way, and I just want consumers to be educated on what to look for so it doesn't cost you money unnecessarily.
As school house rock used to say, knowledge is power! I would be more worried about buying land without being prepared to know what to look for, than being a knowledgeable buyer. If that itch persists, make yourself familiar with how easy these steps actually are, get a good realtor to hold your hand through it and DO IT 😃
ive learned that property is just used as a baroning chip to extort money from you
It’s not that difficult know what zoning allows you to do, make sure you ask for property to be free of leans and encumbrances, get title insurance and read the policy. If you don’t understand it then have them explain it to you so you’re clear on it. If permits were required planning department can tell you if they exist.
Know your cost of ownership mortgage, taxes, utilities, HOA fees if any.
Sleep well and enjoy your life.
I constantly have people wanting to buy a "lot" from my property. I have to explain to them that they need to have at least two acres to erect a house. If they want to buy two acres for $2,000, they have to pay for the survey. The survey for the adjoining property would be over $35k. They would also have to pay seven years of market value taxes, as I have the property in land use designation. So the $2,000 lot now costs $50k. It's crazy!
Hey Mr Wayne, hope ur well. I'm a little late, but congrats on 100k. I am so happy for u. Here's to 100k more
Hey, thanks!
What an amazing guy and experience 👏👏
every couple of sentences he says, is saving me $$$. thanks.
Ty
So true I’m still learning just walked away from 2 properties that didn’t perk
So, I buy the land and pay the taxes on the sale, then I have to continue to pay taxes on it or else the government will come and take it from me, and then I have to ask the government permission (pull permits/pay fees) to make improvements on it, and then if any of the previous buyers of the land said you can’t have chickens on it I can’t?!!!
I guess you are never truly the owner then! You’re just paying rent/taxes for the rest of your life on it.
I get what the taxes are for, to build roads, keep the infrastructure going, to pay the salaries for police, fire rescue and those in power but man it’s all a huge scam!
I guess the American dream is more of a nightmare that you can never wake up from!
And if you pass away and your kids don’t pay the taxes on the land, guess what happens???
You know it!!! GONE!
There is no federal sales tax on real estate, but yes, some do charge a transfer tax on the sale of real estate.
Have you thought of an ‘owners title policy’? Very good channel. I’ve been studying vacant land for decades and I still learned a ton from your videos. Thank you. I’m a subscriber!
Thanks for subscribing! I typically always advise my clients to purchase an owners title policy. If you are getting a mortgage the bank will require you to purchase one to protect their interest, but that's not enough to cover your interest in the property.
great Chanel sir. thanks for the information
Thank you!
God bless you for helping others.
Upstate New York areas are available , I'm told. It would be nice if you did some reporting on that area.
YOU would have to be an imbecile to even think about buying ANY property in that PHQUED UP state.... For me it is RED vs DEAD.... PERIOD....
Oh how i Love u. Im learning so much for you. Im thinking of buying property. But didn't know where to start until i found u wayne. Thank u❤
You can do it! Let me know if I can answer any questions for you
Ty you iam looking to buy 20 acres in va just for hunting
I would have liked for the title to specify HOA.
Oh I was about to make all these mistakes if that’s even possible !! lol thanks !!!!!!!!🙏🏾
So you’re just renting the land because you need permission for everything and if you don’t pay rent you lose it. Good to know
You own nothing!! If you don't pay your taxes or HOA fees you can lose it. It's sad. Sometimes I think renting is better cause you don't have to deal with all the headaches 😊
3 to 5 acres of land translates into 4:57!! LOL! Might want to check those closed captions and how they were translated!!
Good informative video. It's real easy to overlook important details when buying real estate and land. I've made a few mistakes myself. Robert Castello Dixie General Store Heflin Alabama
Doberman Painters, I don't think any HOA will allow them. Love the subs, what a hoot! LOL Very prudent information. Thanks Wayne!
Just subbed . Man! Sir, you just hit on all "nails in the floor" i been lookng on all these
" apps of realtors/real estate dots & coms" re; these exact things be it homes & land or JUST land . Great information thank you for this one.
👍🏽 (But hopefully you didnt forget your " protection " out there as well ) 😊
Thanks for the sub! Let me know if I can help you at all in your search
Wow i never knew
Sir you don’t need permission to cut a tree on your land you must be in the city or hoa cuz we cut trees for fire wood all the time in Virginia
I agree, we cut plenty of trees down on my property in upstate NY for logs/firewood. First I have ever heard of requesting permission to cut trees. Sounds like an HOA thing...
I did the same in Kentucky. This is my first time hearing about that.
When I purchased acreage in Oregon, it clearly stated that if there were any trees on the property, I had to get permission from the county to cut any of the trees down. Thank goodness there are no trees. 😁 So there's that. 🤷♀️
I bought my land that is just outside the California Coastal Commission who does NOT allow you to cut down trees
When you said you don’t know what kind of critters, creatures, or people might be out there…. 😂😂😂 how you looked around 😂😂😂😂
Fantastic work.
Great videos. Very informative. Thank you.
I think you did a good job. Im always surprised how people will jump into the most expensive purchase of their lives with little to no knowledge on how to go about it. Invest in yourself a little bit. Stop being lazy people and looking for someone or thing to do the work for you when you’re clueless. That’s when things can go bad.
If you own the land you don't need permission to cut or trim trees as long as its on your land. Whether you pay taxes on that land, which every owner does, no permission.
Thanks, Excellent points! but shouldn't also the seller have the land survey, deed restrictions and building width length restriction area information, why reinvent the wheel
Sometimes, but not always.
Great video! I learn a lot from you. I wonder how long it takes to find out everything about specific piece of property
It depends on the schedule(s) of the professionals you'll rely on, like the surveyor for example.
Let’s be clear typical escows run from 30-90 days. During that time is when your looking for property issues. Often you rely on government records at a court house to assist you. You can only ask the question. This is why title insurance is so valuable. They identify the encumbrances and restrictions in their policy. Then give you X days to review and approve. Regarding permits for construction, improvements ect planning department is needed. Everyone makes mistakes. Document your efforts at least when and who you spoke with and results of conversations. After a few transactions you’ll feel more at ease with the process.
I have a question- If I wanted to buy 10 acres or raw land. How would I know if I could put more then one home/mobile home or prefab on the property?
I’m not ready to purchase but learning as much as possible before I am ready. Thank you
You will need to verify that information with your Parish/ County and if applicable city and HOA covenants/ restrictions.
@@TheRealWayneTurner Thank you
Therefore, you DO NOT own the property.
I need to find someone that as knowledgeable as you in Michigan about buying land
Where in Michigan? I have a network of agents I work with all over the country. Reach out to me tomorrow and I can help.
Do you have some sort of checklist of things to do and check before buying land? I have been looking with some criteria. Not inside city limits, 5+ acres, far enough away from highways/airports etc. And of course, no HOA. My plan at a property I am looking at was to build my barndominium. It had 3 wells and 4 septics on it. I'm not sure I can keep all your points in your videos fresh in my head, so if perchance you had a checklist that would help a ton. If not I understand.
Man I’m sorry, but I don’t have a written checklist at this time
Great Video, I am currently looking at a piece of land and the deed does not match what I can see on multiple Parcel data websites. Is this a major concern?
I would get it surveyed and not rely on the multiple parcel data website
I am looking at buying land that has no HOA attached to it. I then want to put it into BIA Trust as an enrolled Ponca tribal member. The land is in our reservation district so that can be accomplished. That means no taxes are due on the property in perpetuity. Do you know how improvements to the property is handled after the land is in trust? I own trust land already and I don't ever need permits to build anything but this new tract is just outside a unincorporated city district and I believe I might have to follow federal BIA guidelines for building.
I've never worked with that type of situation, I'm really not sure where you would start.
is it possible to buy land and who do i ask for permission to build a septic system? also can i rent out my land for fulltime Recreational vehicles?
Land for sale by owner…is it safe to buy from owner?
You always buy from an owner, for everything.
Abolutely!
You mentioned when paying taxes, you have to get permission to build structures etc. What if we are tax exempt in our state due to being 100% disabled vet (as is my wife).
That’s a good point! And thank you for your service!
I should rephrase, my wife is the vet, not me. She gets all that credit. 😊
I believe you are just renting the land, when you stop paying taxes, someone else can come in pay a "taking over" fee and start paying rent again... Stuff I actually own lets say a TV, I don't keep paying taxes on it.
It still baffles me to hear 'my land that i own' and 'ask for permission' in the same sentence. But we still think we own the land. You. Don't. Truly. Own. Anything.
What happens if I did survey the property but they already sold the property to other people or they not sale it to me?
Negotiate and sign a contract to purchase it so the property cannot be sold to anyone else and stipulate that the sale is conditioned on a satisfactory survey
DANG IT WAYNE!!!! You're really discouraging me to go out and buy a piece of land with all that info of restrictions and nonsense!!! I was raised thinking we lived in a free country, but it sounds to me like we're not really free at all... You're bumming me down man!! Buy land only to have to pay taxes from there on forward, needing permission to cut trees, permission to build a house with my bare hands... Permission to live off the land and do what I please ... It's really sad....
So do i contact a Title Co to check and verify the deed and any restrictions et c?
Yes, a title company can pull all of that information for you, or you can walk into your parish/ county courthouse and they can help you search for that information as well.
A minute mark "3:42" Hilarious moment when the the subtitles mistake (3-5 acres of land) for (4:57 acres of land.) 🤣🤣🤣
Looking for land? Buy my families farm…over 350 acres in East Tennessee.
Nice! I bet the property is beautiful!
My takeaway from your video - place an offer with contingencies to give you the time to do your due diligence.
Also, we don't own the land, we just rent it from the government.
Stay away from subdivision land period
0:48
You think you own the land, but the government owns you. 😂
❤❤❤❤❤
Did you get permission to talk pal?!😂
My A Question is this . Why pay taxes when they can just print money ?
I appreciate you getting straight to the point and not doing some 30 min Intro with a life story, thanks 🤌🏼💯💯💯