Buying vacant property in Northwest Arkansas-00-5514
- Author Tim Keller
- Published March 29, 2010
- Word count 785
By following these real estate highlights, you may save yourself the potential headaches that could come later on in the form of added real estate expenditures.
Are you thinking of buying a lot or a good deal of land to build up your dream house on? Altho it looks like it should be a pretty easy dealing, there are things that you should consider before you go out and purchase property. You may have found that perfective location, but these tips will assist you make sure it's the perfective piece of property. And they could potentially assist you keep out of the way of headaches later.
Before you purchase the property and sign on the dotted line, determine if there are the essential electric, water and sewer connections on the property. Most times it costs a good deal of cash to get these hooked up, potentially costing you thousands of extra dollars.
Whether or not sewer, water, and electric aren’t available, make your offer contingent on the capacity to install the essential sewer, water, and electricity that you'll need.
Determine if other contingencies are advisable for purchasing the land. Determine, there might be a restriction on digging a well for water. That might be a matter if you cannot get water hooked up to the location.
See to it that all the other services that you want are available, like electric, phone, and even a fast internet connection if you'll need that. See to it you may use your cell phone (check your cell phone signal at the location) and get a little dish (DirecTV or Dish Network) for television, but you might need something else like cable TV, fiber, or other high speed connections. It may be expensive in the future if you genuinely need those services and they're not available.
Whether or not the land you want to purchase is not accessible by a public road, verify that a road maintenance agreement is in place. This document states that everybody on the path agrees to assist with its upkeep. Whether or not it's not a public road, those who live on the path might need to maintain it, which may be an added expense.
There should be a deeded right-of-way in place for land that is not accessible by a public road. The deed should give you and future owners the legal right to access the land or property.
Check the property's deed restrictions to make sure that you're permitted to build on the land. Galore deed restrictions say that you cannot move a mobile home or modular home onto the land.
Whether or not the lot you're planning on buying is in a development, ask for a list of all of the restrictive covenants on the property. That's where they list all the restrictions for a minimum house size, whether other buildings or permanent structures are allowed, and other restrictions. In sure areas, there even might be necessaries that homes sit a sure height above the land. I recall a situation where a friend bought two a large total for a mobile home and it was in a potential flood zone. The mobile home had to sit at least 6 feet above the cause. That was an added expense that they did not expect, which ended up costing them.
Check the zoning in the area. Ask the city or county if zoning changes are prevised for the area, or if there's a plan to build up new roads or widen existing roads. Whether or not you purchase land where they're going to build up a highway, you may end up losing your land, which is not a good thing.
Check to see if there are any environmental hazards on the property, such like old buried oil or gas tanks, or even land mines. In Texas, a good deal of land owners have discovered unexploded rocket shells in their back yards. The land where a residential development was situated was then the location of a former governmental testing internet-site. Determine if any environmental hazards should be got rid of and who is responsible for removing and cleaning it all up.
Determine if you want a new survey done on the property. Surveys are frequent in a good deal of areas, and required in others. Determine your mortgage or finance company may require that a survey be exercised. Determine, it's very helpful to have a survey done. Learn more about northwest Arkansas real estate.
Whether or not you plan to build up on the property, talk to lenders regarding a construction loan.
By following these tips, you may save yourself the potential headaches that could come later on in the form of added expenditures.
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