Questions About Buying Vacant Land for Hunting

[dbangler]

I was wondering if anyone has looked into buying vacant land for hunting purposes?
I have been looking into it recently to see what is out there.
I was wondering if this type of transaction is just like buying a house?
- get your lawyer to review everything - do the title insurance, search for liens, etc?
- would you get a real estate agent to help you through the purchase?
- how would you go about making an offer without a real estate agent?
I know you have to pay HST on vacant land and I assume land transfer tax as well.
Property taxes are generally very low on vacant land.
Are there any other hidden costs I should consider? Maybe such as road maintenance if there is one.
Any other things I should look for and consider?

Would appreciate some thoughts and perspectives.

Cheers!

[Sam Menard]

Pretty much. Look the property over, submit an offer, and for a lawyer to close the deal. Check with the bank first if you need ti borrow.

[trimmer21]

Like any other real estate deal,it depends on three things-location,location and location. Will this purchase be an abandoned farm on a rural road that's completely serviced or bush property well off the beaten path without hydro or water? Working with a realtor has many advantages. They know the area and the market and are usually very familiar with any nuances accompanying a purchase in the specific area. They also know what "deals" have been cooked up behind the scenes by the "locals" as is typical in most rural areas that the ordinary purchaser would have no way of obtaining without an "insider" being on the team as opposed to finding out after the deal is closed. Good,accurate information is powerful. Paying a realtor can save mega bucks at the end of the day. Of course,the services of a lawyer being absolutely indispensible is a given.

[Marker]

I am going through the same process myself, there are a new(er) set of land ownership rules which are more in the favour of the landowner to reduce squatters rights. Someone can chime in but your lawyer should know the names, ask for the transfer to be done under the new(er) rules.

Real estate agents may not always give the correct answer, keep in mind their job is commission based and they try and push the sale just as any other commission based salesperson would. Have all your questions answered in the contract (ie land taxes, property size etc) so you have something to go back on if required, something I have had to do in the past.

A friend of mine purchased land which had a 50 yr. title search, turned out there was a land claim prior to that for an Indian treaty, he managed to get out of the deal but its only a few more dollars to go back 100 yrs. which could have saved him the headache.

[MikePal]

Be aware that banks will NOT mortgage 'land'....you will have to buy it with a loan or cash.

[JMatthews]

Don't be in a rush and find the right realtor. You can do quite a bit of online searching but a really good agent will find what you want. When we bought our property 27 years ago, I was fortunate enough to find an agent that did cross country horse racing and was very familiar with rural properties in the area I was looking. Prior to this, I visited 4 agencies and they told me I would never find what I was looking for ( large property, permanent water, hardwood woodlot, etc). This agent showed me 5 different properties that met my needs. Good luck!

[DanO]

Pretty much. Look the property over, submit an offer, and for a lawyer to close the deal. Check with the bank first if you need ti borrow.

REALLY hard to get a mortgage on property without a building.

[DanO]

I see you're in Peterborough. I have a camp in the far end of the Ottawa Valley. Be mindful of the Agreement In Principle for the Algonquin Land Claim. The FN have stated they won't confiscate any private property and I believe them but they do have plans for development of cottages etc in the area. You're nice quiet, private property may change in a few years.

[greatwhite]

depending on where the land is located if you put 50% down we will sometimes do a mortgage, also depends on how much banking you do with that specific bank. I did a few that were strictly land purchase.

Be aware that banks will NOT mortgage 'land'....you will have to buy it with a loan or cash.

[brent]

How much are you looking for?? And what is your budget. I am in the Peterborough area.