Steps to Buying A Grove or Land
STEPS TO BUYING A GROVE OR LAND
- BECOMING A GROVE OWNER. You have made the decision that you would like to be a grove owner! This is a big investment and an important financial decision!
- PUT YOUR FINANCES IN ORDER. You will often need to finance your purchase. If you found a piece of property that you like and do not have enough savings to purchase it you may need to look into a land loan. You will find that obtaining a land loan is not an easy task. Most financial institutions can ask as much as 50% down. Click here for a list of financing options to purchase land.
- CHOOSE THE RIGHT AGENT. Find an agency that specializes in selling land/groves. Cutting Edge Sales partners with Sierra Pacific Farms, a local farm management company in Temecula, so we are able to provide information and guidance from the farmers prospective. Often during a showing we will have a farm specialist join us to assist with the farming questions that you might have at no cost.
- SEARCH PROPERTIES ON THE MLS. Review the Items needed to search for your dream property list. Discuss the answers to these questions with your Cutting Edge Sales agent so the agent can search the MLS for the properties that fit your criteria. Once you have looked through your customized listings then pick your favorites.
- A VISIT. Now that you have narrowed down your options, you need to visit the property. Click here to view a list of things to consider when buying a grove. This list will assist you in knowing the right questions to ask during your land buying process.
- RESEARCH. Once you find the property you like, ask to speak with the current farm manager, review production records, ask to see water bills, review the list of things to consider when buying a grove and use this as a guide in determining if this is the right property for you.
- PROPERTY FOUND. Congratulations you have found your property. Now have your agent provide you with comps in the general area to determine your offer price. Based on the comps, current market situation, and condition of the grove have your agent write up your offer.
- OFFER ACCEPTED. Your offer has been accepted! Now the escrow period begins. Be sure to request a survey with corners marked (this will let you know exactly where the property lines are). Check for any encroachments on the property and resolve any issues prior to close of escrow. Review the title report in detail and be sure to check out anything suspicious. Also during this time check with the County to be sure there are no violations and/or any restrictions in relation to the property (planting, building, etc.).
- CLOSING! Today you close on the property and you take over ownership. Congratulations you are now officially a farmer and a grove owner!