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Land For Sale In California - Purchasing Land for Sale in California

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There are no buying restrictions on land for sale in California. Any adult can purchase and hold land as long as all state laws and local ordinances are obeyed and property taxes are paid. This doesn’t mean that buying land for sale in California is a simple or easy prospect. There are several obstacles to buying land versus buying prebuilt property. In addition, lenders are not so quick to finance land purchases as they are to finance residential or even commercial property.

The first step to buying land for sale in California is to identify a couple counties of interest. The best deals will be in central or eastern counties with primarily rural populations. Rural land will carry a lower price but will possibly pose other problems that could potentially raise the final cost of development. Land inside city limits or in more developed regions on the coast or in the southern California will have a higher initial cost but could allow you to avoid some of the costlier obstacles.

Once you have chosen a county, check on websites that list vacant properties, lots, or tracts of land for sale. Websites that specialize in land for sale in California will give you the best listings. You can also check with realtors in the county you are looking at. They may have some land available that has not been advertised on the Internet. Alternatively, you can check with county records or county newspapers that list foreclosure auctions. This can be a good way to buy land cheaply.

Once you find land that is to your liking, you should inspect it before committing to buy. If the land is inside city limits or in developed unincorporated areas of the county, you should check on the zoning to see if this property can be developed as you wish.

Land in developed areas will be easier to purchase and can be done so with fewer hurdles. Lenders are more willing to provide financing for properties that have a high potential to be developed. This means that electricity should be easily accessible and there are major public roadways to and from the property. A property without accessible electricity and private dirt paths for access will not be easily financed because lenders see these properties as risks for both commercial and residential purposes.

Financing for land in California is more difficult because it cannot be considered residential property, even if you plan on using it to build your primary residence. Instead, it is considered by the lender to be investment property or commercial property. For the purposes of the lender, it doesn’t matter if the land is zoned by the city or county for residential use or not. Some of the requirements a lender may have for commercial land for sale in California includes the following:

• High down payment
• Architectural blueprints of buildings to be constructed
• Detailed timeline of construction schedules
• Budget for construction costs
• Building contractor contact information
• Two years of federal income tax returns
• Two months of income verification
• Bank account and asset information

The benefits of buying land for sale in California can be enormous, depending what it is you want to use the land for. It should be taken into consideration, though, that the initial price of the land is only about one-third of the total cost. Another third of the cost will be for construction, while the last third will go toward equity and site preparation.

Once you buy the land, it is like having a clean slate to do what you will within the law. You will have many more building options open to you than if you bought existing property, even if you planned on doing remodeling. Another benefit of buying land is that the more complicated process requires you to put more thought into the purchase, so you know you are getting exactly what you want and realistic plans are made.

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