Looked at a property today, buying it on Monday..

That is not the title companies job. They just have to clear the deed. That is about it. No stipulation are put on them in many areas each state is differant. Many can do this them selves with a buyers contract.

I NEVER buy title insurance. I use a lawyer to take the gamble out of it.

There are lots of "be cautious" replies here. Wisdom comes from mistakes, yours or other peoples. For every "fall over themselves to pay me twice what I paid for the place" story I hear, there are a hundred, "Dam, why didn't I know better?" stories. I offer you advise not to rain on your parade, but to warn you that what you are jumping into might not be your dream come true. Hate to see anyone get burned. My money has always come hard, so I try to play it safe.

So far it sounds like you got a steal of a deal. I hope you'll keep us updated on what you are doing and how it's going. Good luck!

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Don't go around saying the world owes you a living. The world owes you nothing. It was here first.
Mark Twain

Aside from an environmental catastrophe in waiting (hidden, dangerous whatever), I don't see where you could lose out.

Get a water test, and make sure you have a title search done. Those two check out and you've got the deal of a lifetime.

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Land in East Texas tends to be extremely cheap unless you're located to a growing town like Tyler, for example, then price does go up. East Texas is still fairly rural and it's nothing to buy 1000 acres with a nice house that doesn't need to be fixed up for $50k in some areas and no, I'm not kidding. Water is not a problem in East Texas...water tends to be MORE of a problem flooding in East Texas, lol.

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Ted H

You may all go to Hell, and I will go to Texas.
-Davy Crockett

Im not sure which east TX you are referring to, but the REAL east TX does not have ANY kind of deals like that. You will be VERY hard pressed to find land cheaper than $1000/acre and that will be where there is not electric, and may be river bottom land prone to flooding with no house on it whatsoever. It would next to impossible to find a 100 acre place with a house on it for less than 100K. It is possible to find a 10 acre property with a mobile home or small old frame home on it for the $50K you stated but I doubt it would be a "nice" home. Ive been searching East Texas land for the past two years. If you know of a place n east Texas for sale that is 100 acres or more with a house on it for $50K, PLEASE let me know. I will bring cash.


I appreciate the advice from everyone. Im planning on buying it as it sits. Ill be happy just to have the land to hunt on. Im not expecting the land to appreciate quickly or anything. But, I dont see how I could lose on the deal either. There is always the risk of the hidden or buried toxic stuff but dont think that is something I have to worry about here.

I say snatch it up too!!! Real estate is in short supply and they ain't making anymore!

You can always turn around and sell it later. Shoot, for that price, see if the guy has anymore and give him my cell phone number. PM me if he does!

I don't know about how great of a price it is. I recently bought 30.2 acres on a paved road, including a 16' x 80' mobile (which needs work), well and septic for a bit less per acre in West-central, TN.

After purchase I recommend salvaging everything you can out of the mobile. Without a roof it will be deteriating quickly. When you get down to the frame, you are likely to find the partical board was glued to the top. You are likely to need a hammer and chisel to get it off. And, please, watch out for snakes in any of the buildings.

I'll say go for it. Good luck!

Do what you have to do. There is not way I would finance this. I think you will be fine. Just why do you not have real estate lawyer as a freind? Freinds watch out for you. They get out of bed at 2 am to take care of a problem.

Nathan,

Yes, it can be done. You just have to really do your research. The land/house deals that I've found around that price range are in the Lufkin/Nacogodoches areas. Main reason is because jobs are hard to find in those areas so main business is farming/ranching. You can try to find some in this website:

http://peddlernet.com/

Closer to the Louisiana border, cheaper the land gets due to lack of jobs. Check out that website from time to time and you'll land some really good deals. There was a person that was advertising his land that had a house and a mobile home plus a RV on 20 acres or perhaps 40 acres of East Texas land for less than $50k right on this website. I sent that guy an email...seems that person was a flake because he answered it then didn't answer other emails then several months later he did. Not worth talking to in my book.

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Ted H

You may all go to Hell, and I will go to Texas.
-Davy Crockett

Ted, how wierd, I just found that website yesterday. I will keep an eye on it. Didnt see any good land deals on there now but will check it often.

New development...

I had put off the closing to Wednesday so that I could do a little more reasearch. Deed appears clear but did find out something online. The only neighbor there on the road lives about 200ft down the road. And, he is a registered sex offender. I wonder if they knew this? If they did, is this the type of thing that would be required by law to be disclosed? This wont matter if we use it for hunting or for a small cabin to visit on the weekends or something but could hurt resale value. Not sure if I should pass now. hmmm...

Try to find out what type of offense it was bec you can be charged as a sex offender if you're 17 or 18 and dating a 17 year old in Texas if the girl's parents don't like you.

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Ted H

You may all go to Hell, and I will go to Texas.
-Davy Crockett

Just looked it up on the TX offender webite. Looks like it was against a very young girl.

Wonder if he could be persuaded to move?

Uh, Would you move if a RSO moved next to you right now?

I have four kids and can't control that, but it's up to me to keep them safe. It wouldn't dissuade me, but that's because I know how I have trained my kids and how I keep an eye on them.

There are too many questions... does the guy still live there? Does he own/rent? I know many times that the Sheriff's office is not up to date because the RSO don't comply. They pick an address of a relative, register there and come and go.

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Uhm, now that is an different type of offense that's rather serious. Do your research now. Decide on what to do after that. Good luck.

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Ted H

You may all go to Hell, and I will go to Texas.
-Davy Crockett

A hunting retreat eh...?
two birds with one stone?

Personally, I'd pay him a visit. I'd tell him I bought the property next door and that I intend to use is as a HUNTING retreat. I'd also tell him I have young children (which I do) and that if I ever got even the slightest whiff that something was amiss I would ... A verbal warning of course. No paperwork, a he said she said kind of thing.

Pete