Anyone ever buy land from a developer?

[ctom87]

You know the ones I am talking about? The "this weekend only, land sale next to Lake [insert lake]. Get 5 acres and a log cabin shell for $79,999." Or something to that effect.

Something just seems off to me...
My gut instinct says it seems like a scam. I could be way off. Never bought property before. Anyone ever done something like this? Figure i would ask before I go and look at land Saturday haha.

Thank you in advance for your thoughts on this. Hoping to seek council here from knowledgeable folks.

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[trophy8]

Tag

[TreyRo]

I always thought they were a scam but my boss has bought two ten acre tracts from the radio ad people in the last few months. Both are pretty nice little pieces of land for their intended purpose.

[BertramBass]

I have. If it is a platted subdivision/community it is usually legit. There are only a certain number of lots at that price and everything else has a premium mark up. They are very vague on the advertisements so you will reach out to them and they can get you to their sales team. I've passed on the buildings, grouped multiple lots into the deal for a cash price, and then built specs or sat on the lots.

[ctom87]

I have. If it is a platted subdivision/community it is usually legit. There are only a certain number of lots at that price and everything else has a premium mark up. They are very vague on the advertisements so you will reach out to them and they can get you to their sales team. I've passed on the buildings, grouped multiple lots into the deal for a cash price, and then built specs or sat on the lots.

In my head I was thinking two 10 acre plots also I had 20 acres to hunt. They are "not advertising it as a hunting ranch, but its high fenced, has black buck, red stag, axis, auodad and trophy whitetail."

The amount of skepticism I have though is pretty high...

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[BertramBass]

Most I have looked at, have in the CCR's no hunting or shooting fire arms. Most times when they talk about all the game, there is a wildlife exemption in place for the community if I remember correctly...

[ctom87]

ttt for any more advice.

[marshman]

I just saw an add for this exact same thing on one of East Texas lakes. 10-20 acre plots for sale. I believe the sale was today.

[60 Deluxe]

Ask if they provide a warranty deed and an insurance policy. If it is a contract for deed, run.

[Hogmauler]

Just bought 12 acres from a developer and had what he said he’d do placed in special provisions of the contract. We got an all weather road maintained for two years then the county takes over, power and water run to the property, 8 hours of dozer work, and an entry gate. The land already carries an open spaces exemption that you use for wildlife or cattle.

[deerwatcher51]

Hilltop Lakes comes to mind. Search it as I think there are several threads on here.

[wilded]

Many have no hunting in the contract and deeds. Interest rates are sometimes high. Price per acre will be at the top of the area for small tracts in most cases.

[ctom87]

Thank you all for the advice here. Good stuff.

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[Tex_Cattleman]

Lone Star Land Partners is one of them. They recently sold 5-10 acre lots in a new development (Legacy Hills) between Dripping Springs and Johnson City. Phase one (some 100 lots) sold out in 4 hours. I got one of them. Phase two was 80% sold before open to the public. Other owners had first right on all phase two lots. They then sold out completely day one.

I don't know about all the other developments, but this one is the real deal. All of us involved in real estate around here jumped all over it when we saw the prices.

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[Philip-TX]

Keep in mind you will probably have to drill your own well ($$$), and bring in power ($$), if this was just ranchland. How deep? how far for power? Who put the roads in and who is responsible for their maintenance. Sometimes the county will take over after the developer leaves (usually a cpl years by developer), sometimes that ownership has to maintain, with HOA type deal.

Do your homework, ask lots of questions (then verify them). One developer told a prospective buyer a well was like 300ft, when that area was 700ft to water. Developer (actually the salesperson) didn't have a clue.