What You Should Know Before You Buy Land
| Before you buy that piece of property you have always dreamed of, there are several questions you should ask. Some of the answers may surprise you and even change your mind before you sign on the dotted line.
First key issue is to know the total amount of money required to purchase your property. The selling price is not all you will have to pay. Be sure to calculate the taxes and fees into the final cost. If you are going to develop your new property, you should also expect to pay for the property surveys, engineering services, permits, soil tests for septic systems and more. Another important thing to ask is for the seller to provide you with a Real Estate Transfer Disclosure Statement. This pre-printed form will let you know of any easements, rights of others to control how you use the property, environmental problems, nonfunctioning equipment, zoning and building violations, and special assessments of the land. The third matter to consider when buying a piece of land is whether or not you are allowed to see the property in person before you purchase it. Something may look great in pictures or on a virtual tour, but images can be deceiving. So make sure to visit the parcel in person and check it for yourself. |