Buying Land

Closing Costs – Who Pays in a Land Deal?

A real estate transaction is a somewhat complex process with numerous players involved and many moving parts. If you are pushing toward the finish line to achieve your goal of land ownership, then you have likely wondered about closing costs, who will pay what, and how much it will cost to close the transaction. When you are trying to sort it all out in your head- what, who, when, and how much- there’s one important thing to remember…it’s all negotiable.

Closing costs are additional fees paid at the end of the land buying process. “Closing” is the stage of a real estate transaction during which the property title is officially transferred from the seller to the buyer. Essentially, closing costs pay for everything required to complete the transaction outside of the purchase price.

Throughout your land buying process, third parties, such as attorneys, surveyors, appraisers, lenders and others have performed services. Closing costs include the fees these professionals charge for these services to finalize the real estate transaction. Pat Porter, broker at RecLand Realty, discusses closing costs and aspects of the closing process that are most commonly associated with land deals.

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About the author

Pat Porter

Pat is the owner / broker for RecLand Realty. RecLand specializes in selling hunting land, timberland, farms, & ranches in LA, AR, MS, TX, IA, & MO. See their company website at RecLand.net.

Pat, his wife, and three boys are land owners and enjoy hunting, shooting, and an outdoor lifestyle. They live in northeast Louisiana and are usually in the woods somewhere several times a week.

2 Comments

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  • Dear Mr. Porter,

    I would pay cash for a small (2 – 5 acres) (abandoned) farm with approx $100/year taxes . The point of the abandoned farm condition is to emphasize the importance of getting well water easily, finding a septic system in place, an immediate access to electricity (possibly stand-alone solar not connected to grid depending on battery technology), and, finally and most important, the freedom to use old manufactured buildings for workshop duties and a home for a rather large model railroad. Whatever is done to provide living quarters should not be limited by any special regulations. It may be rather unorthodox.

    I am old and do not expect to ever have more money than I have now. I have liquidated all of my stocks as I can no longer trust stock and commodity markets. My principal concern is that I will need to defend my land and will not be able to.

    • Buy what is commonly referred to as a Long Gun (Rifle), and don’t forget to purchase a good Noise Suppressor (Silencer) – You just don’t want to damage the Peace & Quite of the Land. Stay to the Higher Ground and you will do fine. Like shooting ducks in a barrel!

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