10 THINGS TO LOOK FOR WHEN BUYING VACANT LAND

  1. Land is incorrectly zoned: You may not be able to build what you want on a particular piece of property. For instance, zoning may require minimum square footage, setback requirements, or minimum road frontage.
  2. Land is not suitable for well and septic. A test should always be done prior to purchase (if public sewer and water is not available.)
  3. Land is located in a flood plain. The area may be too low on which to build. Sometimes the property may be part of a government issued flood plain and may require flood insurance on the dwelling.
  4. Deed restrictions may prohibit your intended use. If the property is part of a subdivision or platted land, there may be additional building requirements besides local government ordinances.
  5. Land may be improperly split from a parent parcel. New state legislation now requires Township approval when a parcel is split. It is recommended that you obtain Township approval for splits before purchasing.
  6. Land is subject to provincial regulated wetlands legislation. the provincial  laws regarding regulated wetlands are extremely strict. If there is a question regarding whether a piece of property contains wetlands, this should be addressed prior to purchase.
  7. Failure to receive a SPIS disclosure from previous owner. The owner may be aware of potential problems with the property and is required by law to disclose this information.
  8. Undisclosed environmental hazards. Receiving a copy of the previous owner’s disclosure may help to uncover potential hazards. in some cases it may be beneficial to have the soil professionally tested to determine if there is a problem.
  9. Land size and topography is not suitable for your home plans/blueprints. The layout of the land must be suitable for the type of home you want to build. For instance, if a walkout basement is desired, the land cannot be flat.
  10. Purchaser was uninformed of current market conditions and/or values. A real estate professional can provide you with a comparative summary of what is currently available and what has recently sold, and at what price

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