Buy In Lots

If you are looking to buy land, one of the first things to do is figure out how many acres you want. Speculators who want to purchase land for the sake of residential or commercial development will obviously have different needs than those buying land for a vacation home. Here are a few tips regarding what you should be aware of when buying land.

The Basics with Lots of Land

Find out where the water and sewer connection are on the lot. Determine whether it's the community’s responsibility to fix any problems that may arise while you live there.

Learn if there are any other banned possibilities, such as building a well for water, as well as the connections for electricity, phone and cable service on the property. Also, verify that there is a road maintenance agreement if the lot has no access through a public road.

Deeds and Lots

Again, if the land is not accessible by public roads, there should be a deeded right-of-way. This will allow anyone who owns the place in the future to access the land legally. It’s essentially a precaution against trespassers.

Be sure to find out if the deed restrictions on the property include what you can and cannot build. Some lots do not allow prefabricated or manufactured housing. Others are for residential use only, meaning that you cannot have livestock. Look for anything in the deed that mentions some other party owning or using any part of the land.

Other Issues With Buying Lots

Get the papers for restrictive covenants, or the restrictions on minimum house size and what other structures are on the lot. These documents protect the home value by making sure the structures fall in line with established standards.

Ask the county or city council if there are any expected zoning changes to the property. Another thing to ask about is expanding the existing roads, or making the land accessible by public roads.

Anything environmentally hazardous, such as an old gas tank, needs removal. Talk to the seller about removing dangerous waste and cleaning up all of the land before you buy. Knowing before you buy is the smartest way to avoid buying a bad investment in lots and acreage.