Buyer’s Checklist for Purchasing Vacant Land
When Purchasing Land – Be Informed
For many folks (myself included) we have dreamed of owning a piece of property and putting a home on it. We want to step outside of our door each day and take in the amazing Maricopa mountain views. However, this dream can become a nightmare if you don’t dive into these three areas before you purchase that piece of land you have fallen in love with.
The below 5 items listed below should be on any buyer’s checklist when thinking about purchasing vacant land for an investment or for building a home.
Check with the County regarding building regulations, fees for improvements, County fees and acreage verification. By doing this before a purchase, one would know how much money is needed to build or improve the vacant land.
Verify water possibilities. Water may or may not be available. Some areas have private water companies and others are serviced by wells. If there is nothing available, then checking the costs of doing a well or hauling water may be important in the purchase.
Septic. Check with a local septic system installer to determine cost in regards to the possible land purchase. It would be wise to obtain more than one estimate.
Electric. Visually check where the closest electric poles are located and then call the local electric company for information and fees for hook up to the lot.
Most land purchases are cash only. However, there are sellers that offer that they will carry the loan with acceptable terms. Many require up to 50% down to carry it.
As you can see, buying a piece of land does have a few extra steps you will want to take.
IF BUYING THIS PARCEL FOR A RESIDENCE, the checklist will assist in knowing the costs and limitations.
IF BUYING THE PARCEL FOR INVESTMENT, the checklist will give you the knowledge as a Seller for resale in the future.
If you are looking to purchase some vacant land in Maricopa give me a call, I’d love to help out
The Maricopa Home Team @ The Maricopa Real Estate Co
firstname.lastname@example.org / 520-403-3515