• Evaluate Land Parcels Objectively

• Secure Land Parcel Financing

• Find Land on eBay

• Buy Land With Confidence

Evaluate Land Parcels Objectively

Evaluate Land Parcels Objectively

Buying a parcel of land can be a serious investment and it’s always a good idea to consult a financial advisor or accountant prior to making any investment. Determine what your goals are for purchasing. The following are some of the other factors to consider when evaluating parcels of land.

Location, location, location

Many buyers prefer to be close to schools, shops, cinemas and easy highway access. So, obviously, land that’s close to amenities will command a premium.

Moreover, builders may charge you more to build on remote parcels of land. A septic tank, for example, can be quite expensive. Also consider access to electricity and telephone utilities.

Find out about homeowner’s fees. Do mandatory fees apply to your plot of land? If so, you’ll have to pay them. If you don’t, the homeowners’ association could put a lien on your property or even foreclose on it.

Building challenges and obstructions

For most people, the most critical question to answer before purchasing land is: can you build on it? If the land can’t support a foundation, or has no access to a sewage system, it may not have development potential.

Research the soil quality and topography. Damp, moist soil can add significantly to your building costs and building on hills or steep slopes can be much more expensive.

Finally, research road access. If the land isn’t accessible via a public road, you and your neighbours will have to maintain it. Consider the likelihood of floods, heavy rain, or snow that could limit road access in the future.

Zoning and environmental considerations.

Once you’ve determined that you can build on the land, research zoning. If the local zoning ordinances dictate that you can’t build on the land, or your land borders water and is subject to environmental regulations, both may hinder your building plans.

Also research the county’s long-range plans. Find out where the new businesses, parks, roads, or schools will be. For example, if the county is planning a six-lane highway next to your property, your resale value could decrease. Conversely, easy access to a new shopping centre could improve your resale value.

Secure Land Parcel Financing

Secure Land Parcel Financing

Once you find the land of your dreams, it’s likely that you’ll need to secure financing. While financing for land can be more difficult to locate than that for an existing home, there may be other options.

• Local, savings, and community banks: Loan officers at these locations know the area and possibly even your specific parcel of land. Note that you’ll have a better chance of securing a loan if there are other improved properties, or brand new properties, in the same area.

• Traditional seller loans: Typical seller loans generally require a 20% down payment, with the seller holding a note for the balance. The interest rate and terms of the loan, however, are negotiable. Other factors that impact the final terms of the loan include: the location, size, zoning, and intended use of the parcel.

Choose a loan package that adequately covers both the cost of the land and the cost and complexity of building and construction. Be sure to factor in the cost of liability and homeowner’s insurance when opting for a financing package.

Of course, real estate investments can be a complicated matter, so you should be sure to also consult a tax professional.

Find Land on eBay

Find Land on eBay

Once you know what type of land you want, go to the Real Estate portal, click Land, and start searching for item listings on eBay.

• Keyword search: Search eBay listing titles for specific words. For example, if you want to find Florida land, type “Florida land” (without the quotation marks) into the Search box. Click "Search title and description" to expand your results. Visit eBay's Search Tips page for more tips on searching with keywords.

If you can't find exactly what you want, try shopping eBay Stores, tell the eBay Community what you want by creating a post on Want It Now, or save a search on My eBay and eBay will email you when a match becomes available.

Buy Land With Confidence

Buy Land With Confidence

The information contained in this Buying Guide is intended for general information purposes only. This guide is not intended to be a complete list of all things relevant to the purchase of real estate and should not be deemed a substitute for professional advice. You should conduct your own due diligence into all aspects of a real estate purchase and depending on your situation; you should get assistance from experts, including a licensed real estate broker, a property inspector, title/escrow company, attorney, and/or financial advisor.

Before moving forward with any real estate purchase on eBay, you’ll want to consider the following.

Know real estate purchase specifics

• Price: Am I bidding on the full price of the parcel, or am I bidding on a down payment?

• Title: Is the title clear; that is, free of liens, easements, and other encumbrances? If the title isn’t clear, what are the easements on the property?

• Insurance: Can I get title insurance at my own expense?

• CCRs: Are there any covenants, codes, and restrictions on the property?

• Deed: What type of deed will I be getting?

Nature of bids in auction-style advertisements

Due to the wide variety of laws governing the sale of real estate, eBay Real Estate auction-style advertisements of real property do not involve legally binding offers to buy and sell real estate. A bid is not a contract between seller and buyer. Rather, bids represent a buyer’s serious expression of interest in buying the seller’s item. Learn more about eBay’s bid policy for real estate and eBay's Real Estate Rules and Policies.

Know your purchase

Carefully read the details in item listings.

• If you want more information, ask by clicking the “Ask seller a question” link under the seller's profile. In some states, the seller may be required to deliver a specific disclosure statement.

• Familiarize yourself with the seller’s terms, including any guarantees and requirements regarding the acceptable forms of payment.

• Check to see what closing costs you are expected to pay.

Know your seller

Research your seller so you feel positive and secure about every transaction.

• What is the seller's Feedback rating? How many transactions have they completed? What percentage of positive responses do they have?

• What do buyers say in their Feedback? Did the seller receive praise?

Due diligence

As with all major decisions, in buying real estate, you will want to make sure you get full information and the best advice possible. You may want to consider using an experienced real estate broker who can help you with your due diligence, negotiations, and closing. Depending on your personal circumstances and investment goals, you may also want to engage an attorney and/or a tax advisor.

Payment

• PayPal enables you to pay without the seller ever seeing your bank account or credit card numbers. In fact, PayPal protects buyers 100% against unauthorized payments from their accounts.

• Visit the Security & Resolution Centre to learn how to protect your account and use eBay's quick and efficient resolution tools.

• Never pay for your eBay item using instant cash wire transfer services through Western Union or MoneyGram. These payment methods are unsafe when paying someone you do not know.