I am a first time land buyer and found a nice area in east texas - specifically in cherokee county. couple of questions:

1. are there any perks to being a first time land buyer like there is when you buy a house?
2. is each lender going to require a large downpayment?
3. are there any recommendations on this board for land banks in the east texas area servicing cherokee county?
4. owner will probably keep mineral rights and there are gas wells in the area - any thing i should put in contract to help mitigate him from drilling in the future?


anything else i should be thinking about? thanks!

Capital farm credit for the loan. Locate the office that typically does business in that county.

Have you discussed minerals with current owner? If he says he has them, confirm for yourself and determine his percentage of ownership. Lots of times, owners are overly attached to reserving minerals. You can use this to beat them up on price but you need to know what they actually have first.

If they do end up reserving, I would try to get them to waive all rights to ingress/egress. Simplest way to do this is Google the trec mineral reservation form. If he balks at that, then you'll need to get down to the details.

Normal ask good questions. Don't assume anything from the cad is correct. Especially in rural areas. Some of them have a long history of junk in, junk out.

Make sure you ask and pay for survey coverage in your title insurance. Money well spent.

There are others more knowledgeable but give me a call if you want to discuss.

thanks for all the help on this yall. decided to go the custom house route and bought a lot in bullard. didnt want to put the move off any further. will look at buying a hunting property after we get settled next year