10/06/2017
5 THINGS TO DO BEFORE BUYING LAND
1. VISIT THE PROPERTY AND DO A COMPLETE WALK-THROUGH.
This is vitally important, especially if you are not local to the area in which you intend to purchase. Even if you are 1000 miles away from your dream homestead, go visit it in person. It is not enough to simply trust your realtor to steer you in the right direction. If you want to be truly self-sufficient, YOU need to make sure the property is what you need and want.
There were plenty of properties we pulled up online and fell in love with “virtually”. We’d look at the GIS maps and pore through the photos in the listing, thinking it was perfect. Then we’d drive to it and realize that it’s at the end of a rugged dirt road lined with falling apart trailers and probable m**h labs (and yes, at least one was verified!). Or we’d discover that you can see and smell the landfill just across the valley. Or we’d realize that the topographic map was a little deceptive and didn’t really convey how hilly and wooded the land really is. Moral of the story: do not buy a property without going to it and walking it first!
If possible, walk it with a copy of the plat. The owner of the property should also walk it with you, if possible. They will usually have a deeper knowledge of the boundary lines and landmarks, not to mention the history of a property and any neighborly disputes.
We walked our property with the previous owner a couple of times and found tremendous value in it.
2. CHECK DEED RESTRICTIONS.
You want to check for any deed restrictions that may limit what you can and can’t do on your property, and find out exactly how binding these limits are. If you’re working with a realtor they will usually be provided with this information. Even if they are, do your due diligence and check the OFFICIAL property deed at your county clerk’s office. You may encounter:
Minimum or maximum dwelling square footages
Rules against outbuildings or auxiliary structures
Limits on building styles and materials you can use
Other limits pertaining to how and what you can build
In my experience, truly rural properties avoid unnecessary deed restrictions, but you may always encounter an exception. For example, the previous owner of our property wanted to make it into a subdivision but it never materialized. As a result, there was a restriction on our deed that any house must be over 1200 square feet. When we asked him about it he explained the situation and was more than happy to remove it for us. Even so, enforcement of a deed restriction isn’t hard and fast. Read here for more information.
3. CHECK ON MINERAL, TIMBER, WATER, AND ACCESS RIGHTS.
You need to know if your property comes with its mineral, timber, water, and access rights or if they have been sold off by a previous property owner. You may buy the property with or without them, but you need to understand the risks. We did have a mineral rights issue that could have ruined our plans to buy our property, but we were able to resolve it within the timeframe of our offer to buy without jumping any other legal hurdles. Your best course of action is to check with a lawyer in your county who has experience with property rights and disputes. Make sure you don’t jeopardize your dreams over legal technicalities.
