When buying land for the first time, especially if you are looking to develop it, a lot of things can go wrong. Property merchants insist on getting help from an honest and reputable agent since what you do not know can hurt you.
When buying land, there are plenty of details to verify, and a host of documents to sign. Most importantly, avoid signing any papers without approval from your agent. One of the best ways to avoid problems when buying land is to develop a checklist of the various requirements that must be fulfilled during the land transfer. You will be in good hands if you get the answers to these questions:
Q: What do I need to verify before I buy land for development?
A: You do not want to commit yourself and buy the land for development without confirming these details. Every issue is important, and if you ignore such guidelines, you might have to spend a fortune to correct the mistakes in future. If the land lies on a flood plain, your attempt to deal with the storm-water will not bear fruit. Storm-water flows naturally through sheet drainage from the neighboring farms. In such a case, you cannot sue your neighbors since they do not use artificial drains to inundate your lot. In fact, you might be sued for violating the wetland regulations if you build our dream house on a flood plain. Evidently, doing your homework before you purchase land for development is vital if you want to avoid problems down the road.
Q: As I evaluate the lot for development, what should I include in my checklist?
A: The best way to evaluate land for development is to develop a checklist and make sure that the lot meets the following guidelines:
- The lot must be suitable for residential development
- The site must be suitable for the installation of a conventional septic system without having to opt for other expensive systems of solid waste disposal
- The deed plan must show the boundaries clearly and accurately
- The seller must have the genuine title for the property
- The lot must be zoned for the residential development of your choice
- You must be able to erect the building on your favorite spot without being limited by the property setbacks
- Your proposed design must not violate any of the local codes such as setbacks, zoning restrictions, wetlands, rights-of-way, riparian reserves, and septic rules
- You must have legal access to the site by road without trespassing to your neighbor’s property
- Road maintenance should not be your responsibility
- You must have adequate frontage to erect a driveway and parking
- The title must not have any caveats
- The title must not have any liens, easements, restrictive covenants, or encroachments on the neighboring properties
- The topography must be friendly for construction, utility, recreation, maintenance, accessibility, and drainage
- If you are changing the use of the land, it should not be reclaimed from a junkyard, industry, or farm that have some chemicals that you need to clean up
- The lot must not be susceptible to floods
Conclusion
Once the lot gets a clean bill of health, you can start thinking about the construction process. Ensure that you have adequate space for the access of construction equipment and storage of building materials. If you need to cut and fill some areas, engage a competent custom home builder to avoid an over dig that can be expensive to amend.