The buying and selling of land is one of the most significant parts of real estate. From dream home construction to prime retail locations, land is a primary part of creating any real property. Land purchases have many hidden concerns for buyers. Buyers should be first concerned to make sure the land they are looking to purchase will facilitate what they are looking to put on it. This includes zoning issues and water and sewer capability. Land real estate is a bit complicated, because if the property appears to be in a prime location but the zoning is not appropriate for the usage, the purchase of this land becomes not a worthwhile expenditure. That is why finding the proper land real estate is critical to any real estate project. This issue also can show up in residential as well. In some areas, finding a piece of land that is suitable for the home that is desired to be built is critical. If a person buys a piece of land thinking they can put a multi-family house on it, but then they find they cannot, they have wasted their money. The same issue applies to making sure the land real estate is not contaminated if it is commercial land, or that water and sewer or well and septic would be functional on the land for the intended use. In more rural areas well and septic issues can be a significant problem especially if the usage is commercial. For these properties a perk test should be performed to help understand how a septic would be installed and if the soil type would allow this, or if the soil type is difficult it may need an engineered septic system could be required which is really quite a bit more expensive than a standard septic system. In addition testing for water on the property to see how far the hole would need to be for water is critical as well. If there appears to be very little water on the property this will prove problematic for development. In the case of land with the availability for water and sewer these issues are not problematic. People who are considering the purchase of land should always be thorough in their investigation about the viability of the land for construction and usage before a purchase is made. This should be a part of any contracts terms and conditions to protect the purchaser from buying a piece of land that has no value for their needs.
This entry was posted by admin on August 21, 2012 at 10:02am. It is filed under Business News Daily.
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