Land Acquisition Mistakes You Must AvoidLand Acquisition Mistakes You Must Avoid

While the siren song allure of raw grasslands or wooded acreage warrants following one’s dreams, pursuing migration toward heartland naturescapes, overlooking critical legal and operational due diligence sinks deals, destroying financial freedom pursuits instead of establishing lasting family legacies. Whether seeking to buy land to build or invest, relying solely on the seller’s word as to property boundary lines and condition omits crucial steps for verification of viable infrastructure, limitations, and tax obligations that will impact generations down trails ahead. kansas land acquisition mistakes you must avoid.

Kansas Land Acquisition Mistakes You Must Avoid

Before making a final decision, obtain multiple valuations from local real estate professionals specializing in land sales for an accurate estimate of fair market value. Ensure a deed certificate of ownership is available for review to establish current legal ownership, recent survey evidence of exact property boundaries, and water rights documentation if applicable. Additionally, check zoning restrictions to confirm that the parcel sits in an area suitable for a desired use and to verify that the property is free of environmental issues or other potential hazards that may affect the property’s ability to be built upon and utilized as intended.

If a septic system, well, or electric services are not installed at the property, request quotes for costs to bring utility infrastructure to the site. Also, determine if the property is located within a high-risk flood zone, and the cost of required insurance coverage or rebuilding requirements should a catastrophic event strike. Inquire as to whether mineral rights are included with the sale, and be sure to secure estimates for removing or restoring wetlands, adding fill dirt, grading surfaces, and any other potential prep work that will add to overall development costs.…