Buying Land: 5 Critical Things to Do Before You Purchase
Aug 30, 2021 00:10
Many people don’t feel like they are fulfilled anything in life without a land. All over the world, owning land is a big deal for many people, and it’s a major project. If you identify land to buy in a friendly and good-looking place, that’s the beginning of the process.
People make numerous mistakes when buying property, some through an emotional aspect rather than engaging professionals to steer the process. Buying land for sale Caroline Springs requires guidance from experts with good reputations and years of experience to help with the purchase. These critical things are a must-do for any land buyer to avoid losing your hard-earned money.
Check on mineral, water, timber, and access rights
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You need to check what’s in your property before starting or initiating buying process. Know whether there is timber, mineral, access rights, and water to avoid getting shocked after the purchase when you realize the previous owner sold everything. You must not purchase the land with them, but knowing the risks involved prepares you before you move in.
Sometimes sellers can put all the items, but you realize that not everything is parting with your money after that. You can avoid this by working with a good lawyer reputable for property rights and disputes. Some companies can offer you their lawyers, agents, surveyors, and more. This allows you to avoid the hustle of looking for these experts one by one. But real estate companies can save you lots of stress and speed up the land buying process.
Visit the Property and do a Complete Walk-Through
You may see this as something everyone would consider a straightforward process, but its surprising not many people do it. Someone say things do not just go wrong; they start wrong. Missing every aspect of buying land can have a detrimental effect on you. Visiting the property you intend to purchase is vital, especially if you are not from the locality that hosts your land.
Even if you are traveling 1,000 miles to the property, make sure you visit in person. Of course, you may have a good relationship with your estate agent to guide you, but do not leave everything for them to handle. You may see fantastic-looking pictures of land online and think that’s how things are on the ground. Going personally to view the land on the ground can help you decide whether to move with the buying process or not. Sometimes you may realize the topographic look was deceptive since, on the picture, it showed flat and green vegetation around. But on visiting you find that according to the map and what you find are different places.
If possible, make sure the plot owner is present as they will help you identify landmarks, the history of the property, boundary lines, or any past disputes in the neighborhood.
Before you purchase your target land, check for deed restrictions that may hinder or limit you on your property. If you choose to work with a realtor, they can unfold any hidden information for you since they can know all the deed restrictions. But you can go the extra mile to check the information from the county clerk's office about the property deed. These are the things that you may encounter.
Ø Limits you on the materials you can use to build and building style
Ø Maximum or minimum dwelling square footages
Ø Rules against auxiliary structures or outbuildings
Ø Limitations that pertains to how to build and what to build
Most rural properties tend to avoid some of these unnecessary deed restrictions, especially in modern times. But you may still encounter some exceptions.
Double-check your finances
If you plan to pay cash, ensure your money is accessible and secure to allow a smooth transaction. What about owner financing or land leases? Sign any appropriate documents and let a reputable lawyer who is conversant with land transactions review them. These processes are important because they can prevent issues of lost money or shady business deals.
Verify zoning and ordinances
If you plan to raise a structure on your land, you need to make sure you understand your land property zoning type and ordinances that dictate things you can do or can’t do. It applies if you want to add barns, shed structures, solar panels, wind turbines, tiny houses, and more.
There is a requirement about square footage for types of structures, permits that are not allowed. However, it’s not the same for every state, county, and municipality. It’s advisable to check with your local government to make sure you never jeopardize the future project that you may have.
When you plan to purchase land, make sure you follow the vital things shared above to avoid any pitfalls. But spend time during your research process, and you’ll find everything else, including erecting your dream home, easy.
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