Originally Posted by Derfud
I cant pick up 5 acres of property for $200 can I?
/me bids
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Your land is probably utter shit. There's no such thing as awesome land for rock bottom prices. If the government hasn't "bought" back what it owned anyway, then it belongs to a real estate company.
Cheaper-than-dirt land is just that- cheap. And the dirt? Well, don't forget to have it surveyed, don't forget to pay out the ass for a water table estimate. Get a history of the land - not some old-timer asshole, but view all the deeds to the land and make sure it wasn't a medical waste dumping ground back in the 60s or some shit, when littering was cool.
I say this because I was looking at land in my home state, and I nearly bought something that used to be a junkyard and landfill/waste dump. The money I paid out of my ass for those surveys and histories saved me a lifetime of paying for the pain and suffering.