Buying and Selling Land
First and Foremost I need to express to you that all land is NOT created equal. If you don't know land and what you are looking at then hire a realtor to help you. The commission you pay a realtor as a seller not a buyer is worth 100 times what you pay IF you have a realtor that knows what their doing. Having a realtor that is a land specialist to guide you through what will make you successful in buying or selling land is crucial. Here are some tips for you when buying or selling land.
1. Use a Realtor that knows land, has a track record of land sales, even better if there a land specialist which requires additional training. Having a realtor that can guide you through exactly what you need to whether you are buying or selling land is worth it. There are way too many stories of people buying land then having to sell the land because they didn't know. The #1 reason people sell their land is because they didn't know about something in regards to the land. With a realtor by your side, you can count on knowing everything you need to know about the land and know if your plans for the land align with the land. Another big factor is that there is no automated valuation model to tell you what land is worth. No piece of land are exactly the same so finding comparable land lots and knowing what to pay or how much to sell for is another reason a realtor would be a wise decision.
2. Get a title report. As a seller or buyer, this is really important because you want to have a clear title. Never do just a warranty deed without escrow/title no matter how good the deal. Don't get a surprise tax bill or judgement that you are not reasonable for because you didn't do your due diligence.
3. Get a survey. A survey marks all 4 corners and a map of the land. If you plan on building on the land then this is the first step in any building process.
4. Get a site evaluation from a licensed contractor. If you have plans to build on the land like most do having the opinion from a licensed contractor to tell you what it will take to build on the land is very valuable information. Site Development can get really expensive if you aren't made aware of zoning restrictions, Federal(FEMA) and Local County floodplains, access to utilities, CC&R's and more.
5. Do your due diligence and research. As much as a realtor can help you and provide all this information, you MUST pull your own weight as well. Don't depend solely on your realtor and the information provided to you. Use a buyer advisory, builder, Local County etc. to guide you as well while doing your researching and inspecting. You don't know what you don't know so find out. Go onto your county GIS website and look into the taxes, recorded documents, hillside development, permit history, floodplain-erosion, airports, associations, jurisdictions, landscape classifications, public safety, schools, transportation, utilities, zoning etc...
If you are interested in buying or selling land. Please contact me and set up a land consultation.
