Make sure you go and walk the property. No matter if the area is one acre or ten acres.
How many times have you seen a home that looked perfect online. When you arrived it was not all that!
Well the same is true with vacant land. Once you narrow your selections down and have done all you can do virtually, make a site visit. Being able to touch the land, smell the land, and walk it will let you know right away if you are making the correct decision.
Next go over zoning for the area. Actually this is something you can and should check before you visit the site. Your agent can check with the local county office. You also might want to check to see if any zoning changes are on the table which may affect your plans for the property. You will also want to check for any deed restrictions that may limit what you can and can’t do on the property. Again your realtor can provide this information.
If you are purchasing land that is outside of the city you will probably not encounter many restrictions. In my experience It doesn’t hurt to check to make sure though.
Also check your bundle of rights associated with the property. These rights include but are not limited to mineral, timber, and water rights. You want to see if any of the rights have been sold off by the previous land owner.
Look for an existing survey. Many times you can ask the present owner for a copy of their survey. You will definitely need a survey completed before you purchase if an existing one is not available. The survey will identify easements, utilities, and other areas of concern.
This next step many people are unaware of.You will want to have the soil assessed on the land to check for its quality and composition.
Lastly, cover all your financial options for your land purchase. Cash of course is king, Lease options, or maybe a Land contract. Talk your options over with your realtor.
By R. Jones
