I am pre-approved wiht the bank and have the money to make the deal, however; I am ignorant about what questions that I need to ask the realtor? What questions should I have answered before I decide to buy this land? The location is perfect for me and chances are that nobody can build around me because of some school property. Thanks in advance.
2006-09-11 14:30:06 · 7 answers · asked by skobie 2 in Business & Finance ➔ Renting & Real Estate
as above...if oil, you also have to buy the mineral rights. Is there hazardous materials in the soil?
Is there back taxes owed on the property.
A few hundred dollars, to a attorney to find out why not to buy the property is the answer.
2006-09-11 14:35:05 · answer #1 · answered by G. M. 6 · 1⤊ 0⤋
Ask him what the land used to be used for and make sure there is a sewage system there. Oh yeah, and ask about all the taxes and all that good stuff. For you to build a house there, your property taxes will soar quite a bit depending on your area...I am assuming it will being that near a school. Sorry I can't hep you out more, my brain is fried tonight. I was looking to buy a 36 acre lot not too long ago and can't seem to remember all the questions I asked!
2006-09-11 21:35:45 · answer #2 · answered by Emi 3 · 0⤊ 0⤋
1. Is city water/sewer/electric service available nearby? The cost of a connection can be high. Ask how much. 2. What is tax rate. 3. If you plan to build a home, does it slope? How much site preparation will be necessary? 4. Are there any utility easements? 5. Do you have to pay home owner association fees? Are there deed restrictions? 7. Are you required to build within a certain period of time? 8. Are there height or size requirements that you must adhere to? 9. Is there a full-time fire dept. nearby or is it a volunteer fire department (this could affect your insurance rates. 10. Does the school plan to expand anytime soon. (are there any eminent domain issues with which you may be faced in the future)
2006-09-11 21:41:52 · answer #3 · answered by 2smart 4 · 0⤊ 0⤋
Sounds like it's an ideal spot for you to build a home. First have a Realtor work for you who represents you. Have them prepare a market analysis to confirm you are paying the right price.... then
MOST IMPORTANT QUESTION, have the Realtor include a due diligence clause in the contract which allows you to evaluate the property and determine it can be used as you intend to...
Choose a reputable builder and have the builder evaluate the property with you for what you intend to build. They are very familar with zoning, utilities, set backs, etc. within the due diligence period. If anything comes up that you are unsure of, cancel the contract before the period is up and get your money back....
Regards,
Joe Ballarino
http://www.AmerivestRealty.com
2006-09-11 22:50:27 · answer #4 · answered by Joe_Ballarino 3 · 1⤊ 0⤋
Ask if there's oil on the land. If there is, buy the land.
2006-09-11 21:31:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
ask if there are water/gas/electrical/sewer hookups. taxes owes, liens leveys. also if it zone for what kinds of houseing or business ect
2006-09-11 21:42:29 · answer #6 · answered by Anonymous · 0⤊ 0⤋
what are the taxes per year?
2006-09-11 21:35:49 · answer #7 · answered by ? 7 · 0⤊ 0⤋