Without an agreement, it will be much more difficult to negotiate the extent of each party`s liability and enforce your legal rights. For example, if you want to sell individual lots, you need to know if you can divide the land. You can find this information in the city or district government offices. If you`re buying a property for just a few hundred dollars (so most of my deals work) and you`re already on a tight budget, it can be hard to justify paying double your purchase price just to close that damn thing. If you are in a situation where you need to act quickly, acquire real estate at a lower cost and make the conclusion as simple as possible, closing may be the most advantageous way to move forward. “The main disadvantage of buying land is that there are hidden risk factors,” says Barker. “Working with a real estate agent helps you navigate the process and, ideally, avoid problems.” I think a survey helps the buyer not to misinterpret the area they are actually buying. “Some parts of the country may not be usable, for example due to public airways. So 40 hectares really only have 39.5 usable hectares. “Contingency: An eventuality is a condition that must be met for the purchase to take place. If the contingency is not fulfilled, the buyer has the option to terminate the contract and not proceed with the purchase.. .