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5 Critical Questions to Ask Before Land Buy

The land is one of those things that is always on our minds, rather, it is something that is always there. If you are looking to land buy we are here to help you to get your dreamland. Here are some points to keep in mind before a buy land.

Who owns the land?

Buying land which is privately owned is much more secure than that land buy which is owned by a government entity, like a city or state. When you buy land from a government entity, you never know if you’ll be able to extend your lease or even stay on the property over the long haul.

What’s the zoning?

The zoning of the land is critical to your business model and future planning. Before you buy land, make sure you have a clear picture of what you can and cannot do with that land. You don’t want to buy a parcel of land only to discover that your plans don’t align with the zoning restrictions and ordinances.

What’s the property’s market value?

Buying land is risky, and you need to be able to walk away from a deal if you don’t have the cash flow to support it. You should not buy land without first having a clear idea of the property’s market value. You may have your heart set on a certain piece of land, but if the market value is significantly below your purchase offer, you’ll need to walk away from the deal and find another parcel that’s more in line with your budget.

Are there any environmental problems?

Environmental issues like soil contamination and lead paint can derail even the best-laid business plans. Before you buy land, make sure you have a full environmental audit so you know what you’re getting into. You may be able to negotiate with the current owner to cover some or all of the cost of an environmental audit. The audit will help you identify any existing problems and give you a clearer picture of the true cost of cleaning up the land.

Is there a development plan or infrastructure in place?

If you want to buy land with the hopes of building a new project, you’ll want to make sure there aren’t any plans for future infrastructure nearby. For example, if you’re buying land near a major airport, there could be plans for expansion that could significantly disrupt your operations. You also want to make sure there isn’t a planned development nearby that could drive up property values and make the land you’re buying more expensive.

Conclusion

Buying land can be an exciting and rewarding experience. Land buy is a long-term investment, and as such, you’ll want to make sure that you’ve answered all of your critical questions before making an offer.

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