Worth buying NB woodlot?

Question

1)Dealing witha realtor from Exit Platinum

2) He got me lawyer, who says there's NO NEED TO SIGN A CONTRACT FOR REPRESENATION' to purchase land in Canada.

3) I'm not canadian and buying over the internet

4) Worth the risk?

Answer 1

If you are American (or from any other country), you may want to wait for the exchange rate to become more advantageous for you. If you are already living in Canada, it depends on what you are buying it for.

If you're buying the lot for its wood, now is a bad time. Prices are sinking, and even a lot of mills are cutting back on workforce. The currently high Canadian dollar isn't helping with exporting either.

Otherwise, if you simply want the lot for its land, maybe to build on it or simply to invest in land in case you might want to sell it for later, now might be a good time.

There are other factors to consider of course, many, I'm sure, which I am unaware of, so be sure to get as much information as you can.