Things to Know before Buying Land

Many people find the process of buying land to be intimidating and overwhelming. I think this is because they are somewhat out of their comfort zone. Buying a house is easier because you live in a house and know your wants and needs and the builder and or developer takes care of many of the land issues such as water and waste disposal.

While there are many Realtors available to assist you in a home purchase, be sure that the Realtor that you use in your land acquisition is familiar with this type of transaction. One good criteria to look for is if the Realtor is an Accredited Land Specialist (ALC). This ensures that your agent knows and understands the land.

Regardless of whether you are purchasing the land for building your dream home, for recreation or investment, there are certain questions that you should have answered.

1. Does the land perk?

2. Is there a well on the property or is there county or city water to the property? If not, then does the area have known problems with accessing water?

3. What is happening with the land surrounding this particular tract?

4. What is the access to the property? If it does not have state road frontage, then does it have a deeded right-of-way? And if so, how large is the right-of-way?

5. Can this land be subdivided?

6. What has been the use of the land in the past? Could there be any environmental problems?

7. What are the real estate taxes and does the property qualify for land-use taxation? Are there any rollback taxes to be paid?

8. What is the timber worth? How to manage your timber resources in Virginia? Meet our preferred Virginia Timber and Forestry Consultant.

Relocating to Charlottesville?

Request a relocation packet!