Land Buying Considerations

[Jade S.]

To the "land lovers" out there, I have an opportunity to purchase two parcels (about 0.80 acres per parcel) side by side in an area with development around them (so not directly in a subdivision, but with frontage access to a secondary highway).  My questions are:

1) When buying with cash, do you go to the trouble of insuring land plots if you don't intend to hold for the intermediate to long term (> 3-5 years)?

2) If you are interested in approaching builders/developers, do you go to the trouble of getting sewer, water, etc onto the plot? Or do you leave that up to the party who may buy the property? I would likely consider a perc test if there were no utilities nearby...still need to check with the local zoning authority.

Thanks for your thoughts!