Does the property have a real estate agent that's selling it or is it a sale by owner?
If it's an agent, contact the agent to get the ball rolling there. Aks the agent how much the property costs and what the annual taxes are. The agent will probably want to see a pre-approved mortgage before he or she will take you seriously. To do this go to the bank.
At your bank make an appointment with a mortgage specialist. Be prepared to tell them what you owe and what you own. You will need to bring with you any documents pertaining to loans (including car, furniture, credit cards, overdraft etc...), employment income(pay stubs), and assets (if you own anything of value).
The bank will do calculations and come up with an amount that they will be willing to load you. Once they've done the credit check (although this will vary from bank to bank), they will give you a pre-approved mortagage certificate for this amount.
Those two steps will get the ball rolling and at least you can see how much the bank is willing to lend you and if you have marks on your credit history.
If your pre-approved mortgage is greater than what they are asking for the property you can go through the hoops of putting an offer on the property and getting inspections done.
If you can't get a mortgage or a big enough mortgage, consider getting friends together to form a co-op to buy the land. That's what P did up north with some his neighbours when they wanted to buy a piece of land with a swimming hole.
no subject
If it's an agent, contact the agent to get the ball rolling there. Aks the agent how much the property costs and what the annual taxes are. The agent will probably want to see a pre-approved mortgage before he or she will take you seriously. To do this go to the bank.
At your bank make an appointment with a mortgage specialist. Be prepared to tell them what you owe and what you own. You will need to bring with you any documents pertaining to loans (including car, furniture, credit cards, overdraft etc...), employment income(pay stubs), and assets (if you own anything of value).
The bank will do calculations and come up with an amount that they will be willing to load you. Once they've done the credit check (although this will vary from bank to bank), they will give you a pre-approved mortagage certificate for this amount.
Those two steps will get the ball rolling and at least you can see how much the bank is willing to lend you and if you have marks on your credit history.
If your pre-approved mortgage is greater than what they are asking for the property you can go through the hoops of putting an offer on the property and getting inspections done.
If you can't get a mortgage or a big enough mortgage, consider getting friends together to form a co-op to buy the land. That's what P did up north with some his neighbours when they wanted to buy a piece of land with a swimming hole.
Good luck.