When an individual places an offer with intent to buy property, they will typically ask for a home inspection prior to finalizing their offer. Items, such as the roofing, the foundation and systems throughout the property will be checked for any issues.
If there are any problems found with the affordable land, there are four choices the buyer has in regards to purchase of the property:
- Accept the property as is. When buying acres of land for sale, you will often find that properties aren’t in perfect condition. People do inhabit the property and it is reasonable to expect a little wear here and there. If the property requires a few minor repairs, consider doing them yourself after closing to avoid creating a stressful and strained relationship with the seller. Even a very well-cared for property will experience a little damage, which is important to keep in mind while searching for affordable land.
- Ask the seller to repair damage. If the damages to the acres of land for sale are something you absolutely do not want to deal with yourself, you can request that the seller make the specified repairs prior to closing. When taking this route, it is important that the buyer require the seller to only hire licensed contractors to make repairs to the affordable land. If this isn’t agreed upon, the seller may incorrectly “repair” parts of the damaged property themselves in order to save money, which could actually make problems worse in the long run.
- Ask the seller to fund the repairs. As a buyer, you can ask the seller to help finance all or some of the repairs to the damage found on the affordable land during the home inspection. After receiving the projected amount for repairs, the seller can remove that amount from the closing price on the property or reimburse the buyer as repairs are made. This is a better option than asking the seller to make repairs as you can hire your own contractors and ensure that everything is done properly.
- Retract your offer. If you find that there are too many problems with the acres of land for sale, you may not want to deal with the headache that comes along with fixing it up. When there are many problems, especially large ones such as structural issues, it can be very time consuming and costly to repair. If both you and the seller don’t want to make repairs to the affordable land, you may just have to retract your offer and look elsewhere for acres of land for sale.
The above four options should all be considered after each and every home inspection. As a buyer, it is up to you to decide what option will work best for you and your property needs.
If you are interested in acres of land for sale, visit AllAcres.com for a list of high quality, affordable land properties in your area. AllAcres is a premier online destination to sell and buy property that will meet your every need. While all of our properties tend to be very well maintained, it is always best that you perform a home inspection to make sure that the property is in good shape. For more information on affordable land and home inspections, please call AllAcres at 855-227-3741 or contact us online.