Land purchase considerations

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

  1. Which is the cost from the earth? If I pay $ 1,000,000 for 10 acres to build a mall, is that cost within my budget? Or is $ 500,000 the most I can afford and still have a profitable project?

  2. The rental 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 location suitable for million dollar homes or is it too close to commercial uses?

  3. What jurisdiction is the land found? The city limits? Is it in the Extra Territorial Jurisdiction (ETJ) of the City? Is it 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 one particular jurisdiction (City A or City B) instead of 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 land use allowed on the property. If a property is not zoned or if a zoning change needs to be requested, that will add to 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 the property, whether commercial or residential, and are in addition to local, state, and federal regulations. Write restrictions may be more restrictive than other current rules.
  6. Have utilities Has it spread to the site? Public services would include water, sewerage, electricity, natural gas, telephone, and cable television. Water is the most important thing. Water and wastewater are often the most expensive utilities to extend to a property. There are other ways to get your 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 there any part of the property in a alluvial plain? If so, the buildable or developable surface of the property will be reduced. This, in turn, will usually reduce the value of the property.

  8. Which are the topographical ground conditions? Is the terrain flat or slopes? 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 terrain is preferred, although a hillside location for a home or office can provide a very pleasant view.

  9. Is there road access to the 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 could lessen the chances? Is the road in bad condition? If so, what are the chances of the road being repaired and how could this affect my planned use?

  10. Year comfort it is a legal right to use someone else’s land for a specific purpose. Are there easements on the property that could 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 face the road.

  11. IN Link It is a lien on a person’s property to guarantee a debt that the property owner owes to another person. Before purchasing a property, it is important to determine through the Title Search and Compromise process if there is a pending bond on the property. It is best if the property owner takes care of the links before the buyer closes the property because it is easier to take advantage of the link release.