Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

Account Closed
  • Specialist
  • Cincinnati, OH
2
Votes |
81
Posts

Contingencies on the contract to purchase a vacant lot?

Account Closed
  • Specialist
  • Cincinnati, OH
Posted

I'm about to pull the trigger on some land for a new build single family. 


I'm wondering if anyone recommends additional contingencies written into the contract other than your typical "title, survey, appraisal, insurance, inspection?"

I'm planning on paying cash for the land, and want to guard against potential HOA covenants/ deed restrictions that may prohibit construction. Would you recommend I write language into the land deal that allows me to terminate if I find a deed restriction/ HOA covenant that messes with future development?

I've checked the recorder's office and I can't find anything that looks concerning, however, a similar lot in the same subdivision was advertised on the MLS with a deed restriction prohibiting new builds under 2300 sf.


I'm also worried about other older encumbrances I haven't considered. 

Do Title policies generally cover unrecorded easements?

Obviously policies wouldn't cover deed restrictions that are recorded, right? Since they're public knowledge?


Thanks in advance for your help!

Loading replies...