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Costs to consider when buying land?

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oracle:
What would be some costs to take in to the total cost of buying land? Aside from the land itself what are some fees one is to likely pay in the process?
i.e. survey of land, title company, taxes....

I have never bought land, so my knowledge on the subject is minimal. I would likely be overwhelmed by any fees I might not be aware of.

MountainDon:
The offer to purchase should provide info as to whom pays what. When we bought our land the survey was to be paid for by the seller. Taxes are usually split between the seller and buyer with regards to the portion of the year each owned the land. We split the closing costs. The best way to see what is what in your area may be to talk to a real estate agent/broker. In our case there were very few additional costs for us on top of the actual land price.

oracle:

--- Quote from: MountainDon on July 22, 2011, 04:22:50 PM ---The offer to purchase should provide info as to whom pays what. When we bought our land the survey was to be paid for by the seller. Taxes are usually split between the seller and buyer with regards to the portion of the year each owned the land. We split the closing costs. The best way to see what is what in your area may be to talk to a real estate agent/broker. In our case there were very few additional costs for us on top of the actual land price.

--- End quote ---

Thank you MountainDon!   ;D

What are closing costs? I am not familiar with them.

oracle:
I found out what closing costs are! I know now.

Squirl:
There is the usual "It depends answer."

If you go to some tax auctions you bid, you pay, you own the property. That is not the usual circumstance and is high risk.

The usual "fees" to land listed in the my own personal order.
LAWYER - This is my strongest suggestion.  You can negotiate a flat fee ahead of time.  They get paid regardless of whether the deal goes through or not.  They work for you. Not like a realtor that works to get you to pay the highest price possible to get the deal to go through. 
Title report.
Title insurance.
Septic Test
Survey
Repay Seller for partial year taxes
Title Recording Fee

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