Advice for Land Buyers
Home buying is very different from land buying. Both buyers have different requirement and vision and hence they both need a completely different checklist.
Here are a few key tips to for anyone who is planning to buy land.
You might see an ad in the paper and it confirms everything wanted. But before you even consider it, make sure you have access rights. Be a 100% sure that you have legal, permanent, transferable access in the deed.
It is of utmost importance that you have an access to your land which no one can legally block. Without it, you cannot live there, use it, or even resell it. If you need to pay some annual fees to some government agencies, make sure the right can be transferred once you decide to resell your property, and it cannot be cancelled. Know everything about the access to your land and all the legalities relating to it. It is best to involve a real estate agent.
Water, Sewer, and Drainage
Make sure there is water available on your land and secondly, all the water coming in, has a place to drain. Consult a local real estate agent, they know the local laws and anything legal that can be a future problem.
In some areas it is not legal to have outhouses. In that situation, septic system needs to be installed or hook up to a public sewer system. Hire a professional and get a consultation. This might cost you now, but save a lot of trouble later.
Easements are the rights and privileges a person has in another’s land. You will want to know how they apply to the piece of land you are interested in. Most importantly you want to make sure easements are available for you for power and telephone lines. You might want to live off grid, but these come in handy when in future you want to resell the land.
Needless to say, it should be in you knowledge that if you live far from a powerline or gas. Some companies have the right to refuse of it is a hassle for them, even if you are willing to pay.
So basically, before you invest, you need to make sure, you will have electricity and other utilities.
Timber and Mineral Rights
You need to make sure what is available on your land. You do not want government casually bulldozing your house to extract some mineral they just found on your land. You want your future to be safe from such incidence.
Similarly for the timber, you need to make sure you are legally covered.
Having a good Real Estate Agent in pa will ensure you that your legal documents are protecting you and your investments if things do not go as you planned. Make sure all the money goes to an escrow and gets back to you if the seller does not deliver.