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Using the information in this chapter about evaluating a property, you need to determine a price in your mind of what you’re willing to pay for the property. Your real-estate agent can give you additional information on the local market for land and examples of finished houses in the area. If you aren’t using an agent, you need to access this information through the local title company. You also must decide on the length of time until closing, as well as any other necessary terms, such as your desire for the owner to loan you the money in what’s called a seller carryback. This term means the seller, after transferring the property, retains a note or loan that you must pay them at an agreed time with interest. We talk more about this topic in the “Finding other land loan alternatives” section later in this chapter.