Wallace Jonasson posted an update 1 month ago
If you’re looking to acquire land, there are several important items to consider.
What’s the cost of the land? Only pay $1,000,000 for 10 acres to create a mall does that cost fit around my budget? Or is $500,000 probably the most I could pay and now have a profitable project?
Does the location help the intended use? For example when someone is attempting to build a convenience store may be the site in the high traffic area? Or maybe if someone wants to build expensive homes will be the location ideal for million dollar homes or perhaps is it too near commercial uses?
What jurisdiction could be the land in? The City Limits? Would it be from the Extra Territorial Jurisdiction (ETJ) from the City? Can it be within the County? The jurisdiction that this property is located in will dictate which foibles have to be followed. It might be advantageous to stay a certain jurisdiction (City A vs City B) as opposed to another. There could also be federal and state laws which will impact the property also.
In the event the property owner in the City, what is the zoning category assigned to the property? The zoning category dictates the land use allowed for the property. If your property doesn’t have zoning or maybe if a zoning change is usually to be requested then that may increase the cost and time. Something to keep in mind is zoning change requests are not always approved.
Deed restrictions are private agreements and restrictions specific for the land involved. They may be noted within the deed, and restrict the application of real estate in some way. Deed restrictions could be attached with property whether it be zoned commercial or residential and therefore are in addition to local, state and federal rules. Deed restrictions could be more restrictive than other governing rules.
Have utilities been extended for the site? Utilities would come with water, wastewater, electricity, gas, telephone, and cable. Water is an essential. Water and wastewater are generally the costliest utilities to give to some property. There are other techniques for getting water service like drilling a well or for wastewater creating a septic system. However these solutions also involve ongoing maintenance plus a limited lifespan.
Is any part of the property in the floodplain? In that case then your build-able or develop-able area of the property will appear reduced. This in turn typically will decrease the value of the property.
What are the topographic conditions from the land? Is it flat or perhaps there slope towards the land? The harder steep the slope the more it will cost to develop the land due to necessary cutting and filling from the soil. Generally flat land is preferred although a hillside place for a property or office provides an extremely nice view.
Can there be roadway accessibility to property? In that case perhaps there is a preexisting driveway and curb cut in place or will this have to be permitted and constructed? How likely is it that a permit can be acquired with this location or is there already a driveway nearby which can diminish the possibilities? Is the roadway in a condition of disrepair? If you do then what are chances how the roadway will probably be repaired and how might this affect my planned use?
An easement is often a right to make use of another’s land to get a specific purpose. Cautious easements about the property that could restrict or else unduly affect my ability to help the property? Instances of easements include public utility easements which permit utility providers to put in and keep utilities. Easements can also be the way of providing use of properties that will not otherwise have roadway frontage.
A lien is surely an encumbrance one person’s property to secure a debt the exact property owner owes to a different person. Before purchasing property you should determine with the Title Search and Commitment process if you find a superb lien for the property. It is advisable to hold the home owner look after liens before the buyer closes around the property because it is simpler to leverage a lien released.
Have you been considering a land purchase? Do you know the information about the property? What happens to consider, what to steer clear of, things to get together with the land split up into it?
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