Looking to buy a piece of land? Every property is unique and comes with its own set of rules and regulations, which is why it’s important to ask the right questions. As a buyer, you want to make sure you’re getting all the necessary information about a property before making a purchase. We’ve put together a helpful checklist of questions to ask when looking at a specific piece of raw land or property.
Here are some key questions to keep in mind:
Access and Utilities:
- What are the access rights on the property?
- Are there existing utilities like electricity, sewage, water?
- Are any wells or septic systems installed on the property?
Boundary Lines and Neighbors:
- Has the land been surveyed recently? Are the boundary lines painted or marked?
- Who are the adjoining neighbors?
- Are there any current property line disputes with neighboring landowners?
Mineral Rights and Easements:
- Do any mineral rights such as for timber, water, or gas convey with the sale of this property?
- Are there existing easements in place on the property, including for conservation, utilities, access or adjoining owners?
Water Features:
- Does the property include any water features such as lakes, rivers, springs or ponds?
- Where are the nearest public access lakes or waterways?
Environmental Issues and Zoning:
- Are there any known environmental issues with the property?
- How is the property zoned?
- What are permitted uses or special exceptions for this piece of land?
HOA and Development:
- Is the property governed under the terms of a Homeowners Association?
- Are you aware of any development proposals for any adjoining land or properties?
- Are there existing tenant or lease obligations to others on the property?
Financial and Legal:
- What are annual property tax obligations for the land or property?
- Why is the property owner selling this particular property?
- Is the seller offering financing on the property?
- How soon can the seller close on the transaction?
- Will my purchase of this land or property include a fee simple General Warranty deed?
- Am I able to obtain clear title to the property with title insurance?
Remember, this checklist is intended as a general guide, and you should always consult with a qualified land professional to make sure you’re getting the right information and advice for your land or property purchase. And if you’re in the market for a realtor, we recommend Karen Mella, Realtor® with Spears & Co to help guide you through the buying process.