Buying and Selling Vacant Land in Los Angeles has many challenges...

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/57hN

Buying and Selling Vacant Land in Los Angeles has many challenges…

www.endrebarath.com

Most buyers and seller of vacant land are under the mistaken impression, that the hard part was the negotiating of the Purchase Agreement i.e.: The Sales Price, length of investigation period and length of closing period. The reality is that was just the beginning and that was the easy part.

The bigger challenges just started i.e.: the moment there was agreement.

The process of buying and selling of vacant land in Los Angeles and vicinity has many challenges.  Just to mention one of these challenges:  The Title companies have tightened up their procedures of Insuring Vacant Land. If a property has been purchased in a Foreclosure or at a Tax Sale, now most Title Companies will not insure the vacant land. So, finding the “needle in the haystack” from the various Title Co. is step one (i.e.: the one Title Co. who is willing to insure the property). 

 

www.endrebarath.com

 

The next step is, once you found a Title Co who is willing to insure the vacant land, more than likely they will require a Title Binder or a Company who will be able to do a Tax Title Service without a Quiet Title Action. This of course translates to additional costs for the sellers and a delay in the closing to both buyers and sellers.

www.endrebarath.com

So, for those buyers and sellers who are first exposed to this news, it can become a real eye opener. Hence, it is very important to have a good Listing Agent and a good Escrow Officer who can help navigate, both buyers and sellers through these issues. It will require more than the normal patience, that buyer’s agents are often accustomed to in the representation of their buyers in the purchase of Single Family Homes in Los Angeles.

www.endrebarath.com

In my experience, most of the buyer’s agents appreciate the challenges that the listing agent and the Escrow Officer are in the process of overcoming, i.e.: Problem Solving can be challenging, to close the vacant land transaction and provide the Buyer a Clear Title at the time of closing.

There should be trust, patience and most importantly good communication between all the parties for the closing to take place.

Now if you are looking for a Full-Service Realtor who specializes in closing Vacant Land in the Greater Los Angeles area, please reach out to me directly.

 

If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at  http://www.endrebarath.com.  I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations.

 

 

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California Los Angeles County Los Angeles Hollywood Hills - Sunset Strip
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Land Specialists
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The Ninety-ninth Percentile
Hyper-Local
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Tags:
title issues
endre barath
vacant land in los angeles
endre barath vacant land specialist
vacant land and title issues

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Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler  thank you for your testamonial:) Endre

Sep 28, 2017 01:56 PM #28
Rainmaker
3,054,229
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Interesting to read about the additional challenges in a vacant land transaction Endre Barath, Jr. - a real eye opener!

Sep 29, 2017 07:13 AM #29
Ambassador
3,961,291
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                    

                      Thank you Endre!

Sep 30, 2017 06:02 PM #30
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Tony and Suzanne Marriott, Associate Brokers  glad I was able to be informative, Endre

Sep 30, 2017 06:04 PM #31
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kathy Streib  thank you for Featuring me, it is always a thrill to get picked by you. Thank you again, Endre

Sep 30, 2017 06:05 PM #32
Rainmaker
3,363,549
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Endre. In your area all a seller should need to assess their chances is your phone number!

Oct 01, 2017 04:57 AM #33
Rainmaker
5,118,582
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Endre Barath, Jr. your land is a rock pile and most of it would not be released for construction with the pitch of the driveways....

Oct 01, 2017 05:20 AM #34
Rainmaker
3,691,370
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Endre. I never did land because frankly I am not patient and would have had no idea what I was doing.

Oct 01, 2017 06:56 AM #35
Rainmaker
3,199,445
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to highlight your post this week...well done!

Oct 01, 2017 07:46 AM #36
Rainmaker
3,425,338
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi, Endre --- and your post reveals just a tip of the iceberg....having the right "land team" is obviously an important part of your success.   It's a lot more than just finding the property but what happens next(and next, then next and the next next) that is necessary in order to understand this not-so-simple process. 

Oct 01, 2017 07:48 AM #37
Rainmaker
1,717,942
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Clearly the expert in land sales in and near Los Angeles is Endre Barath, Jr. 

Oct 01, 2017 08:49 AM #38
Ambassador
4,068,555
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

HI Endre

I wasn't sure if I had read this but seeing it on Kathy Streib's features this morning brought me over. I see I already commented - what a great post for those who are not well educated about selling, or buying, vacant land! You are the Man for land in the LA area!

Jeff

Oct 01, 2017 03:17 PM #39
Rainer
157,380
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Sounds like quite a hassle. But it also sounds like you are the man to call. Thanks for sharing!

Oct 01, 2017 06:04 PM #40
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne Martin  thank you for the support, Endre

Oct 01, 2017 06:44 PM #41
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Barbara Todaro  we have to build roads and that can be a costly proposition...most of the land is too small for driveways:)Endre

Oct 01, 2017 06:46 PM #42
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sheila Anderson  that is one of the reasons few in Los Angeles dabble with land, Endre

Oct 01, 2017 06:47 PM #43
Rainmaker
3,236,671
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kristin Johnston - REALTOR®  thank you for reading and the comment is appreciated, Endre

Oct 01, 2017 08:12 PM #44
Ambassador
1,345,587
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

And is it worth it, Endre? Eye-opening for sure. They need your expertise. I just spent over an hour on the phone with a buyer from San Francisco about a lot here at Fishhawk Lake that is overpriced (it's not my listing). The guy had a ton of questions. 

Oct 02, 2017 07:43 AM #45
Rainmaker
1,510,905
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Endre Barath, Jr., this is why I don't handle land sales, buyers and sellers must work with an expert like yourself as there is so much that goes into buying vacant land. Great post! 

Oct 02, 2017 07:50 AM #46
Rainmaker
2,126,966
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I'm so glad Kathy shared this. I had no idea about these challenges. It all boggles my mind.

Oct 02, 2017 10:15 AM #47
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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