Now this is where you guys are losing me lol. I’m 27, but have never been schooled on buying property, or a home. I’m sure I can learn about it on my own, but I like listening to you guys so does anyone have any info for a total newbie here?
I’ll be getting some more info for you shortly.
@PhantomFarmer is spot on about not pissing off the natives 'round these parts and realtors, inspectors, appraisers, attorneys, lenders etc being in cahoots in many cases.
So Title search and insurance is supposed to guarantee that the property being sold is free of any liens, claims, and encumbrances as far back as records date. The fact is nothing is guaranteed other than we all win the big prize of eternal rest once we expire.
Attorneys are a necessary evil and are supposed to ensure that the transaction is conducted according to the requirements of the law. They file tax and various land records with the county.
As far as the $0 down you need to talk to FHA or USDA Rural home loan reps about your options. You need to have verifiable income to qualify.
This is how I got going
http://www.mainehousing.org/programs-services/homebuyer/home-loan
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That being said, you’re not going to be looking for homes on a 6500 sq ft lot in Bangor or Portland. You’re going to be looking for rural properties of at least a couple acres.
Good info @Willd I’ll add you should always a independent inspection done on the property and as I state contact the town clerks office and ask about past disputes and outcomes there will be documentation to support all legal actions or inquiries 
You need to do this yourself peeps but it’s worth it imo
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Thanks CB 
Great advice
Those are both things I wish I’d done.
Another tip for rural living and growing. Don’t buy expensive work gloves. They are going to wear out just as quickly if not more so than the good $6.99 ones at Harbor Freight.
Real Estate standards and practices vary wildly from state to state so it’s difficult, @ktreez420 to get too specific.
Look for a first time home buyers program in your area. They usually have some kind of class room component and should be free. Even if you don’t purchase through that program you should have a basic understanding of the process. I’ve seen programs that will even help out with some down payment money for people who go through the program. There are strings attached to that money, usually if you sell in some time frame, you have to repay some or all of it.
Second, don’t buy anything from the Real Estate office listing the property. At least in my state, the listing office has no duty to look out for your interests… Also, look for an agent that specializes in representing BUYERS. Buyers Agent is a different trick than Sellers Agent.
Do your potential agent a favor and get PRE-Qualified for a mortgage. Lenders will do this for you. It tells everyone involved that you’re a serious buyer. You could be even more serious and get a PRE-Approval. Same process but the lender does a little more legwork before giving you a letter and makes you a stronger buyer.
Really, there are books written on the subject. No forum post is going to scratch the surface.
Good luck to you house hunting!
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lol happy the same here in NY never go through listing agent they work for seller not buyer
Another good point guys @PhantomFarmer @Willd
@ktreez420
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Exactly. Agency is complicated. And after I tried dispensing some pearls of wisdom here, I went looking for a web page to explain it. Here’s one I found:
I’m glad I’m not in the market …
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OK, let me dispense one further thought and then my limited knowledge is pretty well exhausted.
Tax deed sales. Once a year or so, quite a number of properties in Maine suffer a tax foreclosure for failure to pay property taxes for a number of years.
I’ve seen quite a number go for $2,000 to $5,000. Some will have buildings, some won’t. Many go for a lot more, but I recall one a few years back with a habitable house sold in that range. Acreage attracts more interest and can escalate the bidding. Usually it’s a sealed bid deal.
You’d need to go town by town to see what’s out there. There is no central database. More populated areas draw more bidders and go for more money.
The caveat? You’ll get a “Quit Claim Deed” or some similar instrument. A Quit Claim conveys whatever interest the Grantor has in a property to the Grantee. It does NOT guarantee that the Grantor actually had a conveyable interest. Though a Tax Foreclosure is a pretty solid claim, it would not stop a previous owner suing for possession. I don’t know of any cases where a purchaser lost their property, but it doesn’t mean it never happened and you’d still need to hire your own attorney.
The tax deed foreclosure creates a cloud on the title and no bank is going to lend you a dime on it without some kind of legal action to extinguish all prior claims. I think after 30 or 40 years any previous claims fall off.
THIS IS NOT ADVICE OF ANY KIND, LEGAL OR OTHERWISE AND NOTHING IS GUARANTEED CORRECT OR ACCURATE… I AM NOT SUGGESTING ANYBODY PURCHASE SUCH A PROPERTY. I AM NOT AN EXPERT ON ANYTHING WHATSOEVER.
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ok in general I am thinking about this. I have family obligations though but have varying skillsets from IT to food to audio engineering. I want to get involved in the industry preferably and am open to a change but need to have some foundation for the fam.
Meaning I would probably work 2 jobs lol
I guess the necann event is the first step?
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I can only imagine it’s happening in MA and the rest of the rec legal states too. So much is still in it’s infancy and still federally illegal. I’m still on the fence when it comes to whether applying for a commercial license and trying to launch some small businesses ideas I have makes sense or not. The thing that makes Maine attractive for cannabis growers is how much open space there still is. What urban areas do exist are overcrowded and more expensive than rural areas. There are a lot of non cannabis related job listings on craigslist all the time.
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