Negotiating a land deal can involve much more than two people signing a piece of paper. The area can come with hidden restrictions, loss of rights, and even allow other people access to your property whether you want it or not. To make sure you know exactly what you are purchasing with the land, here are the top three tips from experts.
Walk the Property
Online topographical maps can help you determine the approximate location and type of property you are looking at. However, until you walk around the area or ask for a land surveyor Hernando County FL to assess the area, there is no way to actually know how hilly the area is, how many trees there are, or what the neighbors are like.
Know Your Rights
All properties come with timber, mineral, water, and access rights. Sometimes the rights have been sold by previous owners, so it is crucial to know if someone has a right to build a mine on your property, if the trees belong to a logging company, or if there are established access roads across the area you are looking at. Also, water rights are crucial in many counties, so make sure you know what irrigation, controlled flooding, and watering rights come with your property.
Deeds Can Restrict
Before investing, know what restrictions are placed on the land, the length of time the restrictions are active, and how limiting they are when the restrictions revert. You should also check for zoning regulations and ordinances forbidding auxiliary structures or limiting the size of homes that can be constructed on the property.
Whether you want to homestead, farm, or build a staycation abode, it is best to know what type of land you are choosing to invest in. Reviewing your property and knowing the limitations and rights associated with the land can save you from future problems. You may also want to establish your legal property boundaries to alleviate arguments with neighbors.