The Land Acquisition Guide (LOT) in the US Have you found land? Wonderful. Have you checked COMPS? Excellent. You analyzed ...

The US Land Purchase Guide (LOT)

Did you find land? Wonderful. Checked Comps? Excellent. You analyzed the house prices in the neighborhood? Stunning.

Now you will start to check what you are really buying - the land.

So this is, for soil testing, do not send INSPECTOR to check foundations, windows, mold, air conditioner, roofs, etc. The test is a little different. Actually a lot different.

Wait, it's land, there's no house at all. Need INSPECTION PERIOD? Of course! But what are you looking into during this period?

Excellent question. I also asked her for the first time before I was going to buy land in an amazing neighborhood. So, to ease the process, I prepared a checklist pre-set that would present questions and issues for review.

1. Is the land Buildable or not? The first question that needs to be asked, though it sounds stupid. The land may not be built. Assuming that the answer to this question is positive, it is necessary to understand the significance of the costs and duration of construction according to the answers to the following issues.
2. Is the area developed?
3. Topography - Should preparation be done before foundations? Is development work and special preparation required? Because of a significant slope (SLOPE) in our area, retaining walls needed $ 70,000
4. Infrastructure - Does the price include infrastructure such as gas, sewerage, water and electricity? The question is whether there is excellent infrastructure. And negatively - maybe over the area or under the infrastructure that will impair the ability to build a house as you wish.
5. Does Filler have infrastructure? (Its cost can reach 15,000 $)
6. Sewer line - type (Sewer line / Septic). Is a pump installation required to raise the sewer to the road height in sloping ground?
7. Environmental-related regulations (granted trees preservation)
8. Zoning Test - Land Zoning and Construction Rights (SF, MF, CONDOS)?
9. Test Setbacks - Building Lines. Even if you know the distance at which the building line is withdrawn from the area boundary, check. Two adjacent houses may have different withdrawal lines due to the date the parcels were performed.
10. Checks the area setting for the Flood zone
11. Verify that the land is not Wet Land
12. Checking the right of ways
13. Checking the parking requirements
14. Soil test
15. Impact tests
16. Ease testing, right to use (Easements)
17. Termite inspection
18. Land disturbance testing - an issue that requires consultation with county offices and may take a long time.
19. If there are plans for construction then Pre-submittal in the province / city to check the feasibility of the construction program.
20. Costs of preparing the ground for the construction mode Pad Ready
21. "Municipal by-laws" in a district / city can be relevant and sometimes affect.
22. HOA Neighborhood Committee - In high-quality neighborhoods, the HOA sometimes defines their own criteria / requirements for homes. Make sure there is nothing in their requirements that makes the project costly and can hurt profitability.
23. Taxes - City tax and county tax.

Who can give answers to these issues? A bit problematic. There is no single factor. Information is required from the intermediary, the district offices, the development contractor, the construction contractor, the engineer and the architect. In some cases, the mediator will have some of the answers, and if not, you will build a plan of action for each and every issue.

By the way, we didn't talk about insurance. There are the reasons that acquisition through LLC is sufficient in the case of land, I personally strict and do at least third party insurance ..

JUST TO BE ON THE SAFE SIDE …… .OF THE LOT / LAW