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Things to Consider When Buying Vacant Lots and Land

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Information about Things to Consider When Buying Vacant Lots and Land

Published on February 20, 2014

Author: creignorthrop

Source: slideshare.net

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Things to Consider When Buying Vacant Lots and Land
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Things to Consider When Buying Vacant Lots and Land

Things to Consider When Buying Vacant Lots and Land Creig Northrop is a top real estate professional at Long & Foster Real Estate in Maryland. Handling every aspect of buying and selling clients’ homes in Baltimore, Frederick, Washington, DC, and many other areas, Creig Northrop also provides expert assistance to clients looking to buy new construction lots and land.

Things to Consider When Buying Vacant Lots and Land Vacant land can serve buyers as a long-term investment, a place on which to construct a new home, or as a location for a business. However, just as purchasing a home requires a certain amount of research, so does buying vacant lots and land. One thing to consider is the location of the property. Potential buyers will want land that has resale value for investments, is near customers for a business, or that can be used to build a home. Buyers need to be aware of what they are purchasing and should ask the seller to walk them around the property and mark the corners.

Things to Consider When Buying Vacant Lots and Land It is also important to be aware of the costs involved with the property and if there are any zoning restrictions. Buyers should consider title insurance to protect them against any loss or damage of property title, and a land survey may also be necessary. In addition, building costs and utilities can be expensive as some properties need to have water and electricity run to the house, while others will need a well or septic system installed. Zoning can also become a problem, as not all properties are cleared for every type of construction.

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