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Pennsylvania Land Real Estate

Pennsylvania Land Real Estate

Pennsylvania boasts roughly 67 counties containing real estate for sale in nationally ranked, desirable cities and townships. One example is Bear Creek Township in Luzerne County and the Poconos, which straddle southern Wayne County, Pike County, Monroe County, and Carbon County. At approximately 46,000 square miles, Pennsylvania offers hundreds of choice property sales and unique real estate sale listings.

What distinguishes PA lots for sale from parcels or tracts?

A PA lot is a recognized subdivision of property that has corresponding legal constraints and permissions in a written form. The constraints and permissions arise from PA zoning, in which appropriate local government authorities divide land into zones according to its use. In theory, multiple PA lots are evenly sized and spread out in a grid format over a large area, such as a township.

However, PA lots dont always manifest as perfectly square, rectangular, or any definable shape. Lots often straddle quirky land features, such as rivers or densely wooded areas. A PA lot that straddles a river, for example, consists of parcels, with one on either riverbank. A tract is an irregularly defined piece of land that isnt readily described as either of the above types. Mining claims and Native American reservations fall into this category.

What does "no reserve" mean?

"No reserve" is an auction term indicating that items for auction will sell no matter what. No reserve reassures potential buyers that the auction will close regardless of the final bid amount.

How soon after bidding closes do you have to pay?

This depends entirely on the auction and the owner. There are no specific PA property laws governing how soon you have to pay, and typically the owner decides this before or after bidding closes. It can be 15 days, or it can be a larger or smaller time frame.

What about financing and closing costs?

Financing is not uncommon, but details vary between owners. Specifics might entail a certain amount down and a related APR. APRs are different for every financing arrangement or loan term. The owner may see to all the details, or you may have to go through a lawyer.

With some auctions, you may even be able to include closing costs in your land loan. This lets you pay closing costs over the life of your loan. Similar to the details of financing, specific closing costs range, depending entirely on the sale or property in question.

Do you have to build a house on the property?

No, you do not. Once you purchase property, you can build now, build later, or hold on to the property for sale down the line. Parcels identified as "estate-sized" merely let interested parties know that building an estate or other residential property is an option.

Ownership lets you build a custom space for you or your family, whether you choose prefab, site-built, modular, or container. Ownership is, in and of itself, an flexible and sound asset that is unlikely to wear out or depreciate over time.