This is primarily due to the number of factors influencing a land purchase.
If you've never mad ea land purchase before, it's only natural that you would not be aware of these factors much less the difference between them and other forms of real estate.
You should become familiar with the process of purchasing land before making the actual land purchase.
Consider hiring an attorney to help you in the land purchase. When it's time to negotiate the contract, the attorney will be especially helpful.
Choose an attorney that has previous experience in real estate transactions that deal with land. This is the best kind of professional to assist you in the process. You can find an attorney using a directory or by asking for references from people you know.
You should never assume that you will be able to obtain a building permit for the land. Don't make your land purchase under this assumption. You can be denied a building permit for several different reasons.
The sales contract regarding your land purchase should include a clause that will let you out of the purchase if, unfortunately, you cannot obtain a building permit.
If you don't include such a clause, you will end up with a piece of land that you can only resale. Chances are if the land cannot be constructed upon, you will have making a land purchase to someone else.
Check with the local utility companies to be sure that you can have electric, gas and water services at the site. Do this before the land purchase. The last thing you want is to find out this information after you have signed the contract.
Find out if public sewer lines are available for the land. The local city hall can assist you in finding out this information.
If you find out that there is not a public sewer line accessible to the land, you will need to install a septic tank. As you think about the purchase price of the land, keep this cost in mind.
The city's building department can let you know if the land is zoned for what you plan to use it for. Different lots of land are zoned for different purposes.
Also check for any restrictions regarding construction and other uses of the land.
In some instances, the topography of the land can influence the cost of the work that must be completed.
Have your contractor look over the property to check for any costs that may come up because of the landscape. It is best to do this check now than to have to pay later.
You need to be sure of the details of the land purchase process.
If there is anything that you are not sure of, check with a real estate professional such as an agent or an attorney to find out the information you are missing.
