Land Purchase Considerations

If you are looking to purchase land, there are several important elements to consider.

1. Which is the cost from the earth? If I pay $1,000,000 for 10 acres to build a shopping center, does that cost fit into my budget? Or is $500,000 the most I can pay and still have a profitable project?
2. The to lease does it work for its intended use? For example, if someone is trying to build a convenience store, is the site in a high-traffic area? Or if someone wants to build expensive houses, is the place suitable for million dollar houses or is it too close to commercial uses?
3. What jurisdiction find the land? The city limits? Is it in the Extra Territorial Jurisdiction (ETJ) of the City? Are you in the county? The jurisdiction in which the property is located will dictate what rules and regulations must be followed. It may be advantageous to be in a particular jurisdiction (City A or City B) rather than another. There may also be state and federal laws that will affect the property as well.
4. If the property is in the city, what is the zoning category assigned to the property? The zoning category dictates the permitted land use on the property. If a property is not zoned or a zoning change needs to be applied for, that will increase time and cost. One thing to keep in mind is that zoning change requests are not always approved.
5. Write restrictions they are private agreements and restrictions specific to the land in question. They are noted in the deed and restrict the use of the property in some way. Deed restrictions can be attached to property, whether commercial or residential, and are in addition to local, state, and federal regulations. Write restrictions can be more restrictive than other rules in effect.
6. To have utilities has spread to the site? Utilities would include water, sewer, electricity, natural gas, telephone, and cable television. Water is the most important. Water and sewage are typically the most expensive utilities to extend to a property. There are other ways to get water service, such as drilling a well or building a septic system for sewage. However, these solutions also involve ongoing maintenance and a limited service life.
7. Is any part of the property in a flood plain? If so, the buildable or developable area of ​​the property will be reduced. This, in turn, will typically lower the value of the property.
8. Which are the topographical ground conditions? Is the terrain flat or sloping? The steeper the slope, the more it will cost to develop the land due to the necessary cutting and filling of the soil. In general, flat land is preferred, although a hillside location for a home or office can provide a very pleasing view.
9. Is there road access to property? If so, is there a driveway and curb cut or will it have to be allowed and built? How likely is it that a permit can be obtained at this location or is there already a driveway nearby that might lessen the chances? Is the road in poor condition? If so, what are the chances of the road being repaired and how might this affect my planned use?
10. Year comfort it is a legal right to use another’s land for a specific purpose. Are there easements on the property that may unduly restrict or affect my ability to improve the property? Examples of easements include utility easements that allow utility providers to install and maintain utilities. Easements can also be the means of providing access to properties that would not otherwise have road frontage.
11. HAS Link is a lien on a person’s property to secure a debt the property owner owes to another person. Before purchasing a property, it is important to determine through the title search and pledge process if there is an outstanding lien on the property. Liens are best taken care of by the property owner before the buyer closes because it is easier to take advantage of a lien release.