What should you know before you bid a vacant land on an auction? Who should I seek advice after I bought it?

How to be a successful land auction bidder? After you acquired the land, what is your next step? Flipping it, develop it? or Other?





Thank you.What should you know before you bid a vacant land on an auction? Who should I seek advice after I bought it?
When ever you are going to buy or bid for a land, make it a point that you have gathered enough information about it and land which is available close to it. This would help you know the amount for which you have to bid, the return which you'll be able to get when you sell it, for what purpose you can use it, etc.





To take a advice about the land, ask a reputed Property dealer, or the local authority.





To be a successful Land auction bidder the first thing which you have to keep in mind is that ';Dont bid for the land if the bidding price has taken over the market price until the land promises to give better return even after you have bought it for higher price';





Secondaly, Know the purpose for which you are buying it, whether you want to sell it later, or use it for securing future by building a house.





Thirdly if you are thinking of selling it later, try and carry out some small scale busines on it so that you can also earn revenue on it while it is vacant. This would also add to the value





Fourth, Try and collect information on the areas around it, because if in short term or long term there would be development in that area, the price of the land will shoot up.





In the end it is better to invest in land, as there would be rare chances that the price of a land would decrease.





All the best.What should you know before you bid a vacant land on an auction? Who should I seek advice after I bought it?
Ignore Dr Roboto (or report him for abuse). That guy has been on here for days, changing his ID each time, to advertise his marketing scam.
Well, first of all, know the value of other property in the area. Check the title and be sure you are getting clear title. Check the zoning. Check for possible environmental issues. Check again. And again.





And then when you bid, have a price in mind and don't go one cent beyond what you planned to bid.
do a market analysis on other propery in the ereas. also do a search on like properties. a market analysis is where you compare other lands to it that recently sold. sometimes you do have to pay for those.