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79ford
03-22-2016, 03:40 PM
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?
mich
03-22-2016, 04:35 PM
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?

No different than buying a house in the city
Wild&Free
03-22-2016, 04:41 PM
finally pulling the trigger?
martinnordegg
03-22-2016, 04:58 PM
No different than buying a house in the city

You nailed it..Lawyer, tax adjustment, etc.. The only thing you have to really watch is if your utilities are paid for or not. Some may be on a payment schedule. I'm talking installation costs.
Springerman
03-22-2016, 05:19 PM
You nailed it..Lawyer, tax adjustment, etc.. The only thing you have to really watch is if your utilities are paid for or not. Some may be on a payment schedule. I'm talking installation costs.

X's two. Some people get their utilities over 25 years. Get owner to pay out. Other wise it is same as city purchase!
Who Da Fisherman
03-22-2016, 09:10 PM
About $700 is what I paid.
WDF
79ford
03-23-2016, 07:11 AM
finally pulling the trigger?


Probably more like taking the safety off and scoping the field, there is some more compelling value in some listings these last couple weeks.

Probably safe to say a 5k closing fund should provide lots of buffer room? How much of a mine field is closing a deal?
martinnordegg
03-23-2016, 07:31 AM
Probably more like taking the safety off and scoping the field, there is some more compelling value in some listings these last couple weeks.

Probably safe to say a 5k closing fund should provide lots of buffer room? How much of a mine field is closing a deal?


I would say the two big ones will be the tax adjustment and lawyers fees. Depending on what time of year and total tax bill will dictate your adjustment.

As above previously posted with power, gas telephone etc.. Also make sure everything that stays is in the real estate contract. For example sheds on skids, firewood blah blah. Everything should be itemized meticulously.

Anything like rightaways, caveats etc. should be explained by your lawyer and dealt with by him/her. Should be a piece of cake.
ColdFlame
03-23-2016, 10:08 AM
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?

I believe the lender can impose additional inspections, and it is common for them to request an inspection on your well & septic systems if applicable. I was fortunate when I purchased my property and this was not requested.
densa44
03-23-2016, 10:42 AM
The septic and well are 2 for sure, a RPR to make sure all the buildings are where they should be, outstanding issues with the county can be a shock. Buildings/ renovations with no permits.

If you have a lawyer experienced in dealing with the county that would ease my mind a lot.

Like everything else be very careful.
mich
03-23-2016, 11:13 AM
Densa hit on the 2 biggest ones, septic and well. Make sure you get them inspected
79ford
03-23-2016, 01:47 PM
The septic and well are 2 for sure, a RPR to make sure all the buildings are where they should be, outstanding issues with the county can be a shock. Buildings/ renovations with no permits.

If you have a lawyer experienced in dealing with the county that would ease my mind a lot.

Like everything else be very careful.


Hmmm, sounds tedious. Generally not too many issues though?