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03-22-2016, 03:40 PM
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Join Date: Aug 2012
Posts: 2,169
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closing cost for an acreage purchase?
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?
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03-22-2016, 04:35 PM
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Banned
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Join Date: Feb 2014
Posts: 400
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Quote:
Originally Posted by 79ford
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?
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No different than buying a house in the city
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03-22-2016, 04:41 PM
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Join Date: Sep 2012
Location: Edmonton
Posts: 6,928
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finally pulling the trigger?
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Respond, not react. - Saskatchewan proverb
We learn from history that we do not learn from history. - Hegel
Your obligation to fight has not been relieved because the battle is fierce and difficult. Ben Shapiro
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03-22-2016, 04:58 PM
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Banned
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Join Date: Jul 2013
Posts: 1,271
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Quote:
Originally Posted by mich
No different than buying a house in the city
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You nailed it..Lawyer, tax adjustment, etc.. The only thing you have to really watch is if your utilities are paid for or not. Some may be on a payment schedule. I'm talking installation costs.
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03-22-2016, 05:19 PM
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Join Date: Aug 2013
Posts: 407
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Quote:
Originally Posted by martinnordegg
You nailed it..Lawyer, tax adjustment, etc.. The only thing you have to really watch is if your utilities are paid for or not. Some may be on a payment schedule. I'm talking installation costs.
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X's two. Some people get their utilities over 25 years. Get owner to pay out. Other wise it is same as city purchase!
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03-22-2016, 09:10 PM
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Join Date: Jan 2010
Location: Airdrie
Posts: 1,860
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About $700 is what I paid.
WDF
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Fuel up, go for a drive, ask permission.....If you are scared, take your mom with you 
Huntinstuff
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03-23-2016, 07:11 AM
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Join Date: Aug 2012
Posts: 2,169
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Quote:
Originally Posted by Wild&Free
finally pulling the trigger?
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Probably more like taking the safety off and scoping the field, there is some more compelling value in some listings these last couple weeks.
Probably safe to say a 5k closing fund should provide lots of buffer room? How much of a mine field is closing a deal?
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03-23-2016, 07:31 AM
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Banned
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Join Date: Jul 2013
Posts: 1,271
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Quote:
Originally Posted by 79ford
Probably more like taking the safety off and scoping the field, there is some more compelling value in some listings these last couple weeks.
Probably safe to say a 5k closing fund should provide lots of buffer room? How much of a mine field is closing a deal?
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I would say the two big ones will be the tax adjustment and lawyers fees. Depending on what time of year and total tax bill will dictate your adjustment.
As above previously posted with power, gas telephone etc.. Also make sure everything that stays is in the real estate contract. For example sheds on skids, firewood blah blah. Everything should be itemized meticulously.
Anything like rightaways, caveats etc. should be explained by your lawyer and dealt with by him/her. Should be a piece of cake.
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03-23-2016, 10:08 AM
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Join Date: Dec 2012
Location: Kootenays, BC
Posts: 46
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Quote:
Originally Posted by 79ford
If one buys a house on an acreage what sort of bill can be run up for closing costs? What have people on here been billed for?
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I believe the lender can impose additional inspections, and it is common for them to request an inspection on your well & septic systems if applicable. I was fortunate when I purchased my property and this was not requested.
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03-23-2016, 10:42 AM
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Join Date: Jul 2010
Location: North of Cochrane
Posts: 6,777
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There can be lots of surprises
The septic and well are 2 for sure, a RPR to make sure all the buildings are where they should be, outstanding issues with the county can be a shock. Buildings/ renovations with no permits.
If you have a lawyer experienced in dealing with the county that would ease my mind a lot.
Like everything else be very careful.
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"The well meaning have done more damage than all the criminals in the world" Great grand father "Never impute planning where incompetence will predict the phenomenon equally well" Father
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03-23-2016, 11:13 AM
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Banned
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Join Date: Feb 2014
Posts: 400
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Densa hit on the 2 biggest ones, septic and well. Make sure you get them inspected
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03-23-2016, 01:47 PM
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Join Date: Aug 2012
Posts: 2,169
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Quote:
Originally Posted by densa44
The septic and well are 2 for sure, a RPR to make sure all the buildings are where they should be, outstanding issues with the county can be a shock. Buildings/ renovations with no permits.
If you have a lawyer experienced in dealing with the county that would ease my mind a lot.
Like everything else be very careful.
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Hmmm, sounds tedious. Generally not too many issues though?
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