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re: Pros and cons of purchasing vacant land
Posted on 3/2/12 at 7:59 am to mpar98
Posted on 3/2/12 at 7:59 am to mpar98
Assess the following first:
1. Can you get electricity to the site and what will it cost. (This can be THOUSANDS)
2. Cost to connect to water or drill a well.
3. Try to get info about your neighbors. Talk to as many people as possible.
4. Courthouse research is vital. Avoid properties that have been bought and sold numerous times. Anything with drilling or mineral issues can lead to a mess with the EPA.
5. Expect to put a very large amount of cash down to finance any unimproved land.
1. Can you get electricity to the site and what will it cost. (This can be THOUSANDS)
2. Cost to connect to water or drill a well.
3. Try to get info about your neighbors. Talk to as many people as possible.
4. Courthouse research is vital. Avoid properties that have been bought and sold numerous times. Anything with drilling or mineral issues can lead to a mess with the EPA.
5. Expect to put a very large amount of cash down to finance any unimproved land.
1
Posted on 3/2/12 at 3:19 pm to nogoodjr
quote:
4. Courthouse research is vital. Avoid properties that have been bought and sold numerous times.
Anyone who buys land without an attorney to check title is a fool.
Also, the number of times a property has changed is largely irrelevant unless the value remains the same or goes down.
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