How old you have to be to buy land.
how established does your credit have to be?
or with buying a double wide?
thanks!
2007-03-17 19:02:05 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You need to be 18 for any purchase (house,land, car, service) for the contract to be legally valid.
You need to have credit only to borrow money. Usually with land a lender requires a significant down pmt +/- 50%compared to a house purchase.
2007-03-17 19:57:36 · answer #1 · answered by Cdn_Superdave 4 · 0⤊ 0⤋
Must be 18 y.o. to sign a contract. Yes you will need financial resources to buy land. Decent down payment required. Work at a job and save money. OR....if you have a good relationship with your family make a contract with them. They will consider your character, decision making skills, and level of responsibility
Good Luck on the land.
2007-03-17 19:12:37 · answer #2 · answered by devil dogs 4 · 0⤊ 0⤋
I believe around here you have to reach your legal age of majority which is 18 here. It may be different at other locations.
You don't have to have credit to buy property, only to get a loan/mortgage. For this, talk to the lender you are choosing, if buying a home talk to a mortgage broker.
2007-03-17 19:07:27 · answer #3 · answered by traciatim 3 · 0⤊ 0⤋