owner financing land?

[gregory noland]

does any one have experience with owner financing land?should i hire an attorney to draw up the contract?when should i get survey done,title search ect?

[ChrisAndWendy]

It can be a great way to buy land, I have done it twice in Maine. But you need to remember a few things. First, if you are buying in another state, make sure you get a heads up on the laws and customs to land buying there. Second, if you use a local lawyer, call the land office and ask who they like. In my case I bought one lot from an out of state seller (him in Fla, me in Md and the land in Maine) who had a property survey, bill of sale and note all in order, easy. The other was from a local who had a bill of sale and a note but no survey which has lead to some head scratching as to how much and exactly where the corners are on the property (you know the old "Well it's about 200' to the first tree with the rock next to it and then about 500' to the rod but I think that's still buried").
Title search is real important if you ever what to get a bank loan later, they are going to want it. Also it make sure that the person you are buying it from has the right to sell the property (intestate,tax liens,other owners, right of ways, covenances). Chris

[gregory noland]

thanks for the reply chris&wendy. i will find a local attorney to draw up the contract. hopefully he or she can steer us in the right direction :?