INS AND OUTS OF BUYING OR SELLING VACANT LAND

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DETERMINE
HIGHEST & BEST
USE

ZONING!

TOWN & COUNTY REQUIREMENTS

*FRONTAGE
*SETBACK
*ACREAGE

VARIANCE
NEEDED?

DEEP LOT
SETBACK COST
-DRIVEWAY, UTILITIES

NOW YOU KNOW HOW
THE LAND CAN
BE DEVELOPED.....

OTHER THINGS TO
VERIFY!!

GAS, ELECTRIC
WATER
CABLE

DEED RESTRICTIONS

IS THE LOT LOW?

SEWER
VS
SEPTIC

WHAT'S
A
PERC TEST

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• Determines water absorption rate of soil in preparation for building of septic drain system.
• Required to design septic system

DEEP LOT VALUE
ACREAGE VALUE

WETLANDS

FLOOD ZONE AREA

DOES YOUR LOT HAVE...

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• TIMBER RIGHTS
• MINERAL RIGHTS
• GAS/OIL WELLS
• PROTECTED WILD LIFE

DO YOUR COMPS
&
VALUE THE LAND!

UNDERSTAND
THE VACANT
LAND RIDER

CONTRACT MUST
STATE INTENDED
USE OF PROPERTY

VERIFY
SELLER
DISCLOSURES

PROPERTY STAKING
& WHO WILL
PAY FOR IT?

SPECIAL
ASSESSMENTS

INVESTIGATION
PERIOD
PER VLR

DO YOU NEED A
SURVEY.....
YES!!!!!

SURVEY:
EASEMENTS
AND ENCROACHMENTS

CAN EXISTING
SURVEY
BE USED?

PROPERTY
INVESTIGATION

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• WHERE WILL THE HOUSE AND DRIVEWAY BE?
• SOIL AND PERK TEST LOCATION?

WHO PAYS FOR
DUE
INVESTIGATION?

IS BUYER
SATISFIED
WITH RESULTS?

PREPARE
VINA

EMD CHECK IS NOW DUE

SELLER WANTS
TO
SELL OFF LAND
FROM LARGER PARCEL

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WHO DETERMINES
IF
POSSIBLE?

DOES SPLIT HAVE TO
BE BEFORE SALE

COSTS
INVOLVED IN
SPLIT

CAN YOU
FINANCE
LAND?

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• BANKS WILL DO SHORT TERM LOANS W/50% DOWN
• OWNER FINANCING

BUILDING LOANS

BUILDING WITH
DRAW LOANS
VS. END LOANS

DIG!

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Thank you for
ATTENDING
TODAY!!