Welcome to Tea with DidiFeb 18, 2020
Sauer Pereira posted an update 9 months, 1 week ago
If you are searching to acquire land, there are many important areas to consider.
What’s the tariff of the land? Basically pay $1,000,000 for 10 acres to build a mall does that cost fit within my budget? Or is $500,000 the most I can pay and have a profitable project?
Will the location benefit the intended use? For example if someone is wanting to develop a convenience store will be the site within a high traffic area? Or if someone desires to build expensive homes will be the location suited to big homes or is it too near to commercial uses?
What jurisdiction could be the land in? Town Limits? Is it from the Extra Territorial Jurisdiction (ETJ) with the City? Could it be inside the County? The jurisdiction that this residence is in will dictate which regulations and rules must be followed. It will be advantageous to be in a selected jurisdiction (City A vs City B) as an alternative to another. There may also be federal and state laws that can change up the property as well.
In the event the residence is inside the City, exactly what is the zoning category used on the exact property? The zoning category dictates the land use allowed around the property. If the property doesn’t need zoning or if perhaps a zoning change shall be requested then that will improve the cost and time. Something to keep in mind is that zoning change requests aren’t always approved.
Deed restrictions are private agreements and restrictions specific for the land involved. These are noted inside the deed, and restrict the use of the real estate in some manner. Deed restrictions might be that come with property whether it be zoned residential or commercial and therefore are in addition to local, federal and state rules. Deed restrictions can be more restrictive than other governing rules.
Have utilities been extended for the site? Utilities include water, wastewater, electricity, gas main, telephone, and wire. Water is an essential. Water and wastewater are generally the costliest utilities to supply to some property. There are more ways to get water service such as drilling a properly or for wastewater setting up a septic system. But these solutions also involve ongoing maintenance along with a limited lifespan.
Is any element of the property in the floodplain? In that case then a build-able or develop-able portion of the property will appear reduced. As a result typically will reduce the value of the property.
What are topographic conditions of the land? Would it be flat or perhaps is there slope towards the land? The greater steep the slope the harder you’ll cough up to formulate the land as a result of necessary cutting and filling of the soil. Generally flat land is preferred although a hillside position for a house or office offers a really nice view.
Perhaps there is roadway accessibility to property? In that case is there a current driveway and curb cut in place or will this must be permitted and constructed? How likely one thing a permit can be had at this location or is there already a driveway nearby which could diminish the likelyhood? Will be the roadway in a state of disrepair? If so then which are the chances how the roadway will likely be repaired and just how might this affect my planned use?
An easement is often a legal right to use another’s land for any specific purpose. Any kind of easements on the property which may restrict or else unduly affect my capability to increase the property? Instances of easements include public utility easements which permit utility providers to setup and look after utilities. Easements can be the way of providing entry to properties that do not otherwise have roadway frontage.
A lien can be an encumbrance on one person’s property to get a debt the property owner owes to an alternative person. Before purchasing property you should determine over the Title Search and Commitment process if you find an exceptional lien on the property. It is advisable to hold the property owner take care of liens prior to buyer closes about the property since it is better to leverage a lien released.
Are you considering a land purchase? What are details about the home? Do you know what to consider, what to stay away from, what you should give you with the land when you purchase it?
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