Land Buying – A Buyers Checklist

Few if any assets will give a true sense of American pride as that of land ownership. The responsibility to know very well what might and whom rests straight on the buyer. In some states, sellers are required to give a disclosure of what they know about the land, but these disclosures typically are not guarantees of condition. Here are a few of the questions a buyer might ask: property acquisition

1. What is the legal description and does indeed the parcel have a survey of record, are the survey pins available to witness 

2. Exactly what the legal accesses, if, and whose land you have cross to access the land, called easements. Carry out not rely on the fact that a street is to or through the exact property. It may well not a have a legal right to use the trail,

3. Is the subject land subjected to others privileges to cross the property called dominant tenements,

4. Are services available to the property such as sewer, water, phone lines, power, cable, etc.. Will the cost to obtain any of these services be the responsibility of the customer, is the property annexed or subject to an agreement to annex to a city,

5. Does the parcel be required to pass an illinois perc test for a septic tank,

6th. Will a proper be required and at what cost,

7. What is the quality of water in the area, neighbors can be a good source of information

8. Is usually the parcel controlled by special zoning districts of contribution,

9. Do others have the right to use, remove minerals, cut wood, or harvest crops

12. Can a building license be given on the land, determine whether any constraints from neighboring properties can be found such as a view corridor or non-buildable areas

11. Is the property positioned in a floodway, avalanche zone of have probable for flooding,

12. Can any flood issue impact a building permit or cause unanticipated building bills to the purchaser,

13. If perhaps farmground, precisely what are the options of water, would be the options shared with other land owners, if surface drinking water do you share a head gate? What method will wastewater be eradicated, prior property uses and soil types(may have more than one),

14. Happen to be there any current arguments with neighbors or have there been any arguments before,

15. Do fencing exist and who has the right or requirement to maintain them

of sixteen. Are there any nuisances nearby the property such as “train tracks”, road noises, agribusiness smells, factories, wily dogs, screeching peacocks or bright lights. Visit the property several times at different hours, especially during the night. Is there anything that might disturb sleep or use of the property,

17. Is there any evidence of dumping, poisonous waste, garbage, old wheels, or pesticides and weed killers,

18. Review a current title report to confirm that the seller is in fact who may be advertising the land and it is able to enter into a contract, verify legal gain access to and location of documents. Have Title officer pull out on the map all easements of record.

19. What are the encumbrances of the land. What are the loans, Local improvement districts or LID’s, boucan easements or limitations to development, life estates

Whilst this is simply not an all comprehensive list it can assist you in knowing what basic questions should be asked and who will be qualified to represent your interests whilst in the purchase of raw land. The task and the purchase of raw land can be cumbersome and dangerous, but you can reduce the risk by subsequent a rigid checklist and hiring a specialist in your area that is aware and understands the difficulties of the land acquisition.