What You Need to Know About How to Buy Land in Texas
I’m Ted Thomas, and I’ve been involved in real estate and working as an entrepreneur for more than 30 years.
Investors usually have a plan or an outcome which they are looking for. It could be fast profits or possibly purchasing property for a long-term hold or anything In between those two.
Today I’m answering your question about how to buy land in Texas.
Want to learn how to purchase bargain real estate? Would you like to buy mortgage-free property for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then you don’t want to miss this FREE Mini Course.
Investing in Land in Texas
Is buying land in Texas a good idea? Land investment is not for the timid, however, it is a lot less volatile than commodities and other investment vehicles in the stock market.
There are many different avenues to invest. Some people buy land to graze cattle. Others want to irrigate the land and raise crops, and others want to develop the land and build homes. You have a lot of choices in Texas and a lot of land in Texas.
Land investments are stable. If you research and do your homework, it will be easy to see Texas is one of the fastest-growing states because the government of Texas has been friendly toward investment and growth.
Land Prices in Texas
What’s your objective? What kind of land do you want? Do you want grazing land, or do you plan to develop the property? Prices vary a lot depending on the choices you make.
In real estate, it is always location, location, location. That applies in Texas, however, there are many natural amenities that can be added, for example, lakes, the hill county of south Texas, and the open lands of west Texas.
Buyers have many choices. Texas land has many different price ranges, and land is sold by the acre. For example, land along the gulf coast of Texas could be $9,000 or more per acre, whereas open land in West Texas could be as low as $1,000-$1,500 an acre.
Have a Land Buying Checklist and Exit Strategy
Now let’s talk about how to buy land in Texas. Step #1 – You need a plan, an exit strategy. What outcome are you looking for? It is not unusual for people to start investing and not have an outcome in mind.
If you make a decision and know the desired outcome, you will be a lot more comfortable investing.
Newcomers need help with a checklist and having a land broker is a must. Residential real estate brokers may be very good, however, they may not understand the nuances of purchasing land.
What Will You Need to Buy Land in Texas?
Let’s cover a few things you need to know about how to buy land in Texas.
Let’s start with a land survey. Land surveys don’t happen very often in a city environment, but in the open county of Texas, you need a survey performed each time you buy land.
That survey must be provided by a certified surveyor because the banks and the title companies are looking for encroachments. This means someone else is using your land or you are using someone else’s land, and it takes a surveyor to figure out the process.
You will need a title policy that will assure and insure your ownership in the land that you are purchasing. The title company will cover the research of liens, confirm that you own what you bought and provide you with insurance to protect you against any claims.
Banks aren’t going to give you a loan without an appraisal. In Texas, they have certified appraisers. You need one of these experts.
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Can You Get Land for Sale in Texas With Mineral Rights?
How about mineral rights? My educated guess is the oil companies probably already own the mineral rights, but I’m not an expert on that; I’m more of a city guy.
So what will you do? You’ll hire a professional landman to research the mineral rights. You don’t want to buy a property without using the experts.
Is the Land for Sale With Utilities and Water?
There is a lot to learn about how to buy land in Texas. Rural land is a challenge, but let’s cover the main items.
Land must have water and utilities if you plan to use it. Does the land come with water? Or do you have the challenge of bringing water to the land, and what will that cost?
What about the utilities, power, electrical. Is it already to the land, or will you have to bring in the utilities from the power company? That will all add to the cost. In many cases, even pasture land will require electricity to move the water if there is water.
What’s the Best Way to Buy Land in Texas?
If you want to know how to buy land in Texas and get it at a bargain, I have solved the problem. This is not for everyone, but if you want great deals on land, follow along with what I’m about to tell you.
30-years ago, I discovered a little-known but highly lucrative part of the real estate business. It’s honorable, ethical, and abundant.
Nationwide there are thousands of properties that end up in tax default, and the same situation happens in Texas. Landowners default on land, residential homes, and even office buildings.
The state legislature has created statutes that require property owners to pay property tax. If the landowner fails to pay property taxes, the legislature has already directed the treasurer to confiscate the property and sell it at a public auction to the highest bidder.
Get Cheap Property for Huge Discounts at a Texas Tax Sale
The county government does not want the property and to encourage bidders, the county will discount the confiscated property. Starting bids could be 60%, 70%, or 80% less than the tax assessed value, and sometimes even as low as 6-10 cents on the dollar.
This is a nationwide problem. Treasurers in all 3,000+ counties will auction off properties. The same rules apply to the 254 Texas counties.
Experience has shown me that auction lists in Texas will reveal dozens of parcels of land that will be sold at tax auctions. Fully 25% of the auction list will be vacant buildable lots, sometimes subdivisions, open rangeland, and even 15, 25, and 100-acre parcels.
The local county is authorized to sell defaulted land for as low as the back delinquent taxes. When they do, the county is authorized to cancel mortgages and deeds of trust loans.
Savvy auction buyers purchase at huge discounts with no mortgages.
We hope you enjoyed Ted’s lesson, “How to Buy Land in Texas”
You can buy land for pennies on the dollar at tax defaulted property auctions held in all of the 254 counties in Texas.
If you’d like to know more about tax delinquent real estate investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.