Finding Bargain Deals for Land for Sale near Los Angeles CA
Sunny Los Angeles, CA is home to Hollywood, some of the best beaches in the country, and great food. But it also boasts some of the highest home and land prices in the United States. In some parts of the city, an acre lot sells for well over a million dollars.
If youre hunting for a bargain deal in the Los Angeles area, youve got your work cut out for you. While not impossible to find, its important to remember that a bargain in this city may be outrageous in another. If youre up to the task, try the tips below to secure a great deal on a piece of land in Los Angeles.
Property auctions are a great place to start if youre looking for a bargain. Because of high demand and the high cost of living in Los Angeles, vacant lots are always up for grabs at auctions. Be it online or through a government auction, you can secure a great piece of property for well below market value.
If you decide to go this route, try to make sure that you already have cash in hand. In most cases, youll be required to pay 10% of the purchase at the auction, and the remainder of the payment will be due within 30 days. If you cant get the cash before the auction, that 30 day window may buy you enough time to secure financing.
If youre in the market for farmland or commercial land, you can purchase REO property for discount rates. REO (Real Estate Owned) is just another term used for bank owned property.
Typically, you wont find many residential plots for sale, but if youre willing to search outside the city, you may find foreclosed farms for sale. REO commercial land may also be available in the heart of the city, but dont expect to pay rock bottom prices for these plots. Theyll come at a cheaper rate than nearby lots, but theyll still be sold at a premium rate because of the location.
Another great way to find bargain deals is to search for land listings online. Major property portals and specialty listing sites may offer great deals on vacant lots. Start by searching through sites that deal exclusively with land sales many offer lots at steeply discounted rates.
Whether you choose to peruse major property portals or specialty sites, youll need to act quickly if you find a great deal. All too often, these properties are up and gone in the blink of an eye.
For Sale by Owner & Owner Financing
One of the best ways to get a great deal on land be it in LA or any other city is to bargain with landowners. Many landowners choose to sell their properties themselves because they dont want to deal with real estate agents (and having to pay commissions).
The great thing about buying directly from the owner is that theres often a lot of room for negotiation especially if the seller doesnt even use the property. Because you remove the middle man (i.e. a real estate agent), most sellers are willing to come down on the price.
Sometimes, you can also find owners that will finance your purchase. In the long run, youll likely wind up paying less for the property as you wont be going through a bank. You may also have an easier time securing a piece of property this way if you have credit issues. You can find land for sale by owner online on sites like Craigslist and eBay. But you can also find listings in the classified ads section of local newspapers.
Search Outside the City Limits
If youre truly looking for a bargain, try searching outside of the city limits. Remember, Los Angeles is a big area, and youd be surprised how much land prices drop once you reach the outskirts of town.
If youre hoping to purchase several acres of land, you may have no other choice but to look outside of Los Angeles. Neighboring towns will have better deals and lower prices, but will still be close enough to the city. Demand will still be high in these areas, and you may find lucrative opportunities if you look in the right places.
Look to the Desert
About 90-100 minutes outside of the city if youre willing to search out that far youll find plots of land out in the desert for cheap prices. Provided the land is close to a high-growth area, youll see a good return on your investment. While these properties may not be in the city of Los Angeles, they are close enough to still be in demand, and affordable enough for the everyday investor to purchase.
Spread the Word
Let your friends, colleagues, family and neighbors know that youre in the market for land. They may know someone who is considering selling their property for the right price. Again, this gives you an opportunity to negotiate because youre dealing directly with the landowner. If this person happens to be a friend or family member, you may be able to purchase the land at a discounted rate. Even if youve never met the seller before, you can still land a great deal if you have excellent negotiating skills.
Finding bargain deals on land in Los Angeles, CA is no easy task, but well worth the effort. The right property purchased for the right price could prove to be a very lucrative opportunity. Auctions and REO properties are a great place to start, but dont forget to search online listings and for properties that are for sale by owner. Dealing with owners directly is a smart way to negotiate a great deal on a plot of land, but if you fail to find ample opportunities, try searching outside of the city and as far out as the desert. Youre sure to find properties at rock bottom prices in potential growth areas. Finally, let others know that youre looking for land. You never know who may have a piece of property thats up for grabs.
LandCentury.com specializes in selling wholesale real estate at the lowest prices. We believe that everyone should have the right and the opportunity to get a great deal on investment property All you have to do to get the property you’ve always wanted is follow these simple steps:
Step 1: Find the Perfect Property
Use LandCentury.com’s powerful network of real estate listings to find the property of your dreams. We have everything from move-in ready investment properties and cheap houses to rural land, buildable lots, and fixer-uppers. No matter what type of real estate you’re looking for, you can find it at LandCentury.com
Step 2: Click the Buy Button
This will start the purchase process. As one of America’s top online property listing sites, we leverage our unique business model of submitting an online payment to hold the listing to make transactions straightforward and secure. Our purchase process is designed for simplicity and security. Once you click the buy button, you will:
Use our secure site to submit your processing fee. We make every effort to protect your privacy. That’s one of the reasons why we offer a 24-hour money back guarantee on your processing fee, so you can feel confident in your transaction.
The seller will contact you within the next 24 hours procced to the next step and get the necessary info to prepare the contract.
Buyer Transaction & Privacy Protection
LandCentury.com stands behind our buyers, and we want you to know that your hard earned money is safe when doing business through us. That’s why we have a number of features to help protect buyers, including:
Symantec Secure Site SSL certificate, providing a $1,500,000 warranty on every transaction
Secure encryption and data protection
24 hour money back guarantee on processing fees
2 separate legal offices across the country to help you with any problems you encounter, anytime
Seller ratings so you can see what other people have to say about their experience with your seller
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If you feel that you have been a victim of real estate fraud, there are many resources available for you as the victim. Your first step is to contact the local District Attorney’s office and report the incident. Our office will stand by you and provide any relevant information to support your claim. Here are additional agencies that can assist you and provide more resources: