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Discussion Starter · #1 ·
We bought our first home last September (1.5 acres) and would now like to look at buying the adjoining 2.5 acres of woods. What is the best way to go about this?

Once the seller and I have a price worked out, then what? I used a mortgage broker for the home purchase, but wondered if going to the current lender would be the best bet. Anyone have any experience with this scenario?
 

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try farm credit - they are in cambridge and just helped me get 5 acres of land. My bank wouldnt do anything without more equity in my house, and they had a minimum amount they would lend for land. Farm credit just needed 20% down, you sign an intent to build on the land but as it was explained to me, there is no time line for it so if you are not planning on building its no problem. They were great to work with.
 

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if your paying cash I would just use a lawyer....the land I bought I used the common realtor and he got me intouch with a good cheap lawyer to make sure everything was up and up with the property....that cost me a little over 300.00....for the title search and check for leans & a few other things....the people selling paid the realitor well over 7000.00
 

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Discussion Starter · #4 ·
Unfortunately it won't be paid with cash, so that's the route I'm looking for info on. Somehow to roll this into the mortgage, or do we have to reapply for the new amount etc. Who do you get into contact with once a price is agreed upon (land isn't for sale as of yet), so there is plenty of time.

This is our first home and we plan on being here for quite some time and I'm taking precautionary steps to make sure I don't have a new neighbor in my hunting spot,lol. In about 10yrs there are plans for a shop/out building and this would be an ideal area to secure.
 
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