Buying Land For Sale In Rexburg, Idaho or Saint Anthony, Idaho? READ THIS FIRST!

Buying land for sale in Rexburg, Saint Anthony, and elsewhere in Southeast Idaho may seem like a daunting task. It does not have to be! Especially here in our friendly Southeast Idaho, buying real estate should be a fun, exciting, and rewarding experience. As a Vacant Land Specialist industry here in the valley, these are my key recommendations to get you started:

GETTING STARTED: UNDERSTANDING A LISTING AGREEMENT AND HOW IT AFFECTS YOUR PURCHASE

The vast majority of properties that are for sale from Rexburg to Saint Anthony and on up to Island Park are subject to a listing agreement. What this means is that the seller has a contract with a brokerage to pay a percentage of the sales price, often 5 to 6 percent, as a commission for assisting and coordinating the sale of the property. Typically, half of this commission is offered to the buyer's agent that brings a buyer (that's YOU!). You may be tempted to think that if you represent yourself, then you can get a 3 percent discount, but this is not the case. Unless otherwise directed, the full commission will be paid whether you have someone in your court or not! The seller’s agent is looking to protect their client, and that is why it is always ESSENTIAL to have an agent that will work for your best interest!

GETTING IN TOUCH WITH A LOCAL LENDER:

Not all of our local lenders do land loans and those that do, only loan within certain parameters. Give me a call and I will send you the local lenders that I trust and work with frequently on land purchases.

DECIDING IF YOU WILL WORK ON YOUR OWN OR WITH AN AGENT

Of course I have some inherent bias of course as my livelihood is based on working with buyers like you but re there really are some considerations to take into account. If you are buying your land from a family member and it is looking to be a simple transaction then perhaps you will be fine working with a title company only. In making your decision, give me a call and let's talk to determine which route is right for you. I spend every day working on vacant land transactions. Let's see if my expertise can help you in your search!

IDENTIFY KEY FEATURES, BOTH NEEDS AND WANTS. THESE SHOULD INCLUDE:

Target Area: Do you want to be near Rexburg? Or would you rather be closer to Ashton? Is Saint Anthony a good in between for you?

Budget: Sure, browsing in the expensive aisle at the department store can be fun but it does not get you closer to your goal!)

Size: In our area you will find everything from 0.1 acres lots to ranch size properties number in the thousands of acres. Carefully consider what that property needs to do or should do for you.

ALLOW YOUR AGENT TO IDENTIFY PROPERTIES THAT MEET YOUR NEED

Be sure to tell them when properties they suggest are NOT what you are looking for! Knowing what you DON’T want is just as informative as knowing what you do want.

DISCUSS THE DETAILS

Covenants: Are there covenants that run with the property that will hinder your use of it? OR does the lack of covenants lead to living by properties that will affect your enjoyment of your own?

Water: Does this property have access to city water or will you need to install a well? If a well is needed, how deep are neighboring properties wells?

Septic: Does this lot need a private septic system or is it on city sewer? If it does need a private septic, does a basic gravity fed system suffice or will you need a complex system likely to cost three times as much? I have contact in the septic business that I work with to get these questions answered for you saving both time and money.

Lot Layout: Does the property need significant grading or other dirt work completed before construction can begin?

Future Construction Loans: Can you purchase this property with enough equity to use it as security for my construction loan or will you have to wait until you have built more equity? I can put you in touch with competent local lenders that will help answer this question!

PHYSICALLY VIEW THE PROPERTIES

Pictures may say a thousand words but being in person speaks infinitely. Some properties may not have had high quality pictures taken and thus may exceed your expectations by physically walking the lot. Other properties may be like that fast food cheeseburger that looked good on tv but is really just a mushy mess when you finally see it. We live in an area with tons of variation. From the lush river bottom west of Rexburg to the rolling hills of Ashton and the lava rock of Chester there is a myriad of land types that WILL affect your ability to utilize a property.

EVALUATE YOUR OPTIONS:

If one of the parcels of land for sale meet what you are looking for, consider making an offer! Yes you can wait to evaluate more options but make sure you are okay with the potential for these ones to become unavailable if you do so.

Make sure to confirm ALL of the details about the property to be sure exactly what you are getting before putting a property under contract. This "legwork" of hunting down details is exactly what a skilled land specialist like myself handles on your behalf.

Still feeling a little bit overwhelmed? Give me a call at the number below and let's talk about what you're looking for.