• Wallace Nymand posted an update 3 months ago

    If you are looking to get land, there are several important items to consider.

    What is the tariff of the land? If I pay $1,000,000 for 10 acres to develop a shopping center does that cost fit within my budget? Or is $500,000 essentially the most I’m able to pay and have a prosperous project?

    Will the location help the intended use? By way of example when someone is trying to construct convenient store could be the site in a high traffic area? Or if perhaps someone desires to build expensive homes will be the location ideal for high dollar homes or possibly it too near to commercial uses?

    What jurisdiction will be the land positioned in? The town Limits? Is it in the Extra Territorial Jurisdiction (ETJ) from the City? Could it be within the County? The jurisdiction that this residence is positioned in will dictate which rules and regulations should be followed. It may be advantageous to be in a particular jurisdiction (City A vs City B) rather than another. You may also have state and federal laws which will change up the property also.

    If your property owner in the City, is there a zoning category used on the house? The zoning category dictates the land use allowed for the property. In case a property does not have zoning or maybe a zoning change shall be requested then that may improve the cost and time. Something to make note of is always that zoning change requests usually are not always approved.

    Deed restrictions are private agreements and restrictions specific for the land under consideration. These are noted from the deed, and restrict the usage of agreement for some reason. Deed restrictions might be attached to property whether it’s zoned commercial or residential and they are along with local, state and federal rules. Deed restrictions can be more restrictive than other governing rules.

    Have utilities been extended on the site? Utilities would come with water, wastewater, electricity, gas main, telephone, and wire. Water is the most important. Water and wastewater are typically the more costly utilities to give to a property. There are other methods for getting water service like drilling a well or for wastewater setting up a septic system. But these solutions also involve ongoing maintenance plus a limited lifespan.

    Is any portion of the property in the floodplain? If that’s the case then your build-able or develop-able section of the property will disappear. Therefore typically will reduce the property’s value.

    What are the topographic conditions in the land? Is it flat or possibly there slope on the land? The more steep the slope the harder you will be charged to produce the land due to the necessary cutting and filling in the soil. Normally flat land is preferred although a hillside location for a property or office provides an incredibly nice view.

    Can there be roadway access to the property? In that case perhaps there is a preexisting driveway and curb decline in place or will this have to be permitted and constructed? How likely is it that a permit can be acquired only at that location or perhaps there already a driveway nearby which might diminish the likelyhood? Will be the roadway in a state of disrepair? If you do then what are chances the roadway will likely be repaired and exactly how might this affect my planned use?

    An easement is a right in law to make use of another’s land for the specific purpose. Are there any easements on the property which may restrict or otherwise not unduly affect my capacity to help the property? Instances of easements include public utility easements which enable utility providers to install and keep utilities. Easements may also be the ways of providing access to properties that don’t otherwise have roadway frontage.

    A lien is surely an encumbrance on a single person’s property to secure a debt the exact property owner owes to a different person. Before purchasing property it is important to determine with the Title Search and Commitment process when there is an exceptional lien around the property. It is advisable to hold the house owner care for liens prior to buyer closes around the property since it is easier to leverage a lien being released.

    Have you been considering a land purchase? Which are the details about the property? Do you know what to watch out for, what to stay away from, what to get with the land by collecting it?

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