Top 10 Questions to ask when buying LAND

[Christina R.]

I sent out my first weekly mailing of YLs last Saturday (thanks @Jerry Puckett) - and yesterday received 2 calls. I followed up this morning after doing a little due diligence on the addresses last night.

One has about an acre of land to sell. It's not developed, in a residential area. He has a moderate stutter and prefers to communicate via email so tonight I want to email him questions about the land.

What TOP 10 QUESTIONS do I need to ask him (other than the obvious, which is why is he selling and what does he want for it?)

plats, surveys, etc.

I will also research here on BP about comping land, etc.

Thanks in advance!

Christina

[J Scott]

Hey Christina,

I'm traveling this week, but feel free to shoot me an address and I can probably do a bit of research for you.

In terms of questions:

1. What do you owe on it?

2. What are you willing to take for it?

3. Are there any known liens or back taxes owed?

4. Is pubic water/sewer available? If not, are there perc test results?

5. Have any development plans been submitted to the county (plat, environmental concept plan, site plan, subdivision plan, etc)?

6. What is it zoned (though this is easy to find out)?

7. Are there any easements, encroachments or anything else that you know about that a survey might reveal?

8. Do you know of any scheduled development in the area?