Whether you want to build a new home or simply desire a blank canvas for commercial reasons, there’s a definitive way to handle the process in a smooth and legal fashion. Depending on where you reside in the country, restrictions may be placed on the land in regards to the purpose. Additionally, you’ll also need to consider the types of deeds in Utah and Arizona and other parts of the country that can create certain clauses in the document. By following the proper protocol, you’ll avoid these pitfalls and successfully purchase the land.
Research the Area
Although a piece of land may sound flawless on paper, there can be surrounding areas that may make a property unusable. For example, a piece of land may have a waterfront view and graded farmland that sounds perfect for building, there can be marshes and other issues that can make the land less-than-perfect. Have the property evaluated by a licensed inspector before you sign any binding documents.
If you intend to purchase this property for your own use, it’s important to know the changes a city intends to put into place around your property. This can range anywhere from the placement of a local dump to the construction of a new road in the not-so-distant future, these items can affect the value of the piece of land. Especially if you intend to build a commercial property on top of the land, you can lose business by these negative factors.
There are often legally binding clauses based on town laws that restrict the use of a piece of property. For example, you may want to buy a piece of land to build your own home, but your city may not allow it due to zoning restrictions. Learn these laws before you buy, so that you’re not stuck with a property you cannot use for your purposes.