Land Buying Concerns
If you're looking to acquire land, there are many important items to consider.
What's the tariff of the land? If I pay $1,000,000 for 10 acres to create a mall does that cost fit around my budget? Or perhaps $500,000 the most I'm able to pay and get a prosperous project?
Will the location help the intended use? As an example if someone is intending to construct a convenience store is the site inside a high traffic area? Or if someone desires to build expensive homes is the location well suited for million dollar homes or perhaps it too close to commercial uses?
What jurisdiction is the land situated in? The City Limits? Is it in the Extra Territorial Jurisdiction (ETJ) with the City? Can it be in the County? The jurisdiction that the property owner located in will dictate which foibles should be followed. It may be advantageous to stay a certain jurisdiction (City A vs City B) as opposed to another. You may also have state and federal laws which will impact the property too.
If your property owner within the City, is there a zoning category assigned to the home? The zoning category dictates the land use allowed about the property. If the property doesn't need zoning or if perhaps a zoning change will be requested then that may enhance the time and cost. Something to bear in mind is that zoning change requests usually are not always approved.
Deed restrictions are private agreements and restrictions specific to the land involved. These are noted from the deed, and restrict the use of the property for some reason. Deed restrictions may be that come with property whether it's zoned commercial or residential and so are in addition to local, federal and state rules. Deed restrictions could be smaller than other governing rules.
Have utilities been extended for the site? Utilities includes water, wastewater, electricity, natural gas, telephone, and cable. Water is an essential. Water and wastewater are typically the costliest utilities to supply into a property. There are many techniques for finding water service including drilling a nicely and wastewater constructing a septic system. However, these solutions also involve ongoing maintenance as well as a limited lifespan.
Is any portion of the property in a floodplain? In that case then this build-able or develop-able area of the property will disappear. Thus typically will lessen the property's value.
What are topographic conditions with the land? Is it flat or possibly there slope towards the land? The more steep the slope the greater you'll cough up to build up the land because of the necessary cutting and filling in the soil. Generally flat land is preferred although a hillside area for a property or office can provide an incredibly nice view.
Is there roadway accessibility to the property? In that case can there be a preexisting driveway and curb cut in place or will this have to be permitted and constructed? How likely one thing a permit can be acquired with this location or perhaps is there already a driveway nearby that might diminish the likelyhood? Will be the roadway in a condition of disrepair? If so then what are the chances how the roadway will likely be repaired and how might this affect my planned use?
An easement is often a legal right to make use of another's land for the specific purpose. Are there any easements on the property that might restrict or otherwise not unduly affect my ability to improve the property? Types of easements include public utility easements which allow utility providers to put in and keep utilities. Easements can be the method of providing usage of properties that won't otherwise have roadway frontage.
A lien is an encumbrance one person's property to find a debt the property owner owes to a new person. Before purchasing property you will need to determine through the Title Search and Commitment process if there is an exceptional lien around the property. It's best to possess the property owner manage liens prior to buyer closes on the property which is much easier to leverage a lien being released.
Do you think you're considering a land purchase? Let's consider specifics of the house? Do you know what to watch out for, things to steer clear of, things to provide you with with all the land split up into it?
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