Should you purchase a plot of land with no contingencies other than clear title?
By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
Should you purchase a plot of land with no contingencies other than clear title?Many people do purchase land with no contingencies beyond a clear title, but whether you should depends on your experience, the property's specifics, and your risk tolerance. Here's a breakdown to help you decide:Why Many People Purchase Land With Minimal Contingencies Speed of Transaction: Sellers often favor offers with fewer contingencies because they minimize delays and uncertainties, making your offer more competitive. Confidence in the Property: Buyers familiar with the area or with prior knowledge of the land may feel confident skipping contingencies. Price Advantage: Buyers offering no contingencies might negotiate a lower price in exchange for reducing the seller's risk. Market Conditions: In a hot ...
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