Before purchasing a lot of land there are important questions to ask about the features of the property. Every land lot is different with varying terrain, zoning, and available utilities. When searching for the right lot of land, you need to already know what you plan to use the land for in order to help narrow your search.
1. Are there any conservation easements?
To conserve natural resources, some land lots may be under conservation easements. This means that the land may have certain rules for planting, clearing, or hunting. While conservation easements are great for the environment, these rules may get in the way of your plans for the land.
2. Can you give me an estimate on the property taxes?
Most states and counties offer certain types of tax breaks on land. You will want to know what kind of tax breaks a land lot may have attached to it. Another way to find out this information is to ask the local Commissioner of Revenue.
3. Does this property have any included rights or titles?
As a property owner, you may receive certain benefits from your land such as road access rights, mineral rights, development rights, and more. Some land lots include titles as well with a bundle of rights such as exclusive possession or access easement. Titles are passed from owner to owner so they may be outdated or extremely complicated.
4. Are electricity and Wi-Fi available to the land lot?
Depending on your purposes for the land, it may not matter for you to have electricity or Wi-Fi. However, these amenities may be a necessity, and if that’s the case, you want to be sure that they are available to the entirety of the property. It’s not fun to discover large dead zones on your recently purchased property.
5. What environmental hazards are associated with this property?
Always ask, even if you can’t visually see anything to prompt the question. Environmental hazards can include toxic water runoff, leaking underground pipes, improperly stored chemicals, and more. An environmental hazard is not good for the land, but it can also cause serious health issues.
6. Is access to the land lot by a frontage road or deeded access?
Properties can be reached by two main ways, either a frontage or local road that provides public access to private properties or a deeded access road. A deeded access means that one party owns the road to the property and provides an agreement about your right of way to your property. When a deeded access is in play, you’ll want to find out the details of it immediately.
7. Are property boundaries clear?
A recent survey of land will ensure that you know exactly where your land is. When you build or plant on the land that is not yours, you could face lawsuits. Be sure to know where your property lines are.
8. What are the details on nearby properties?
The state of nearby properties can tell you a lot about the area that you’re considering. Walk around the neighborhood and observe whether properties are well-kept or in the midst of development. Are there any environmental issues easily viewable? If you have an opportunity to chat with someone who lives in the area, they may offer invaluable information to you.
9. What’s the land lot’s highest and best use?
A vacant lot offers a variety of opportunities for use. The “highest and best use” refers to how a lot of land can be best used based on finances and physical terrain. Before making a purchase, you want to know how to add to the value of the land.
Other Questions to Consider Asking about a Land Lot
- What are the building possibilities on the land?
- Are there any easements, liens, restrictions, or encroachments on the property?
- Are there common facilities for the land?
- Is there a homeowners association and what are the fees?
- Does the land have access to electricity, natural gas, town water, or sewer?
- Has a percolation test been completed on the ground?
- How is the land zoned?
- Are there internal roads and trails?
- How does the land lay?
- Does the land hold its value?
- Does the privacy of the land fit my expectations?
Working with a land lot specialist can help ensure that you find the exact property that you are seeking while avoiding issues that could get in the way of your goals for the property. If you’re looking for gorgeous terrain or a secluded lot of land in Arizona, contact me at firstname.lastname@example.org.