Important Things to Know When Buying A Lot
2.) School District-Everyone wants the best for their kids. Generally, there is a correlation with the quality of schools in an area and the more sought after neighborhoods.
3.) Comparable Sales - Always check on the comps in the particular neighborhood you are interested in. Every lot has its own unique characteristics so look at the amenities of each neighborhood and make sure your home plans will work on the particular lot in which you are interested.
4.) Survey - Always get a survey, by a registered surveyor or engineer, to show you where the home sits on the lot and any easements or encroachments which may need to be addressed prior to taking title.
5.) Title Search - A title policy insures you that the person selling the property has the right to do so. It gives the details of any recorded liens, etc. which may be recorded against the property.
6.) Sewer vs. Perc and Bore Test - If the property you are hoping to buy has access to sewer, make sure there is not a moratorium on connecting to the sewer. If sewer is not available you should have an engineer perform a percolation (perc) test and bore test on the property and obtain a building permit from the proper Health Department officials, prior to closing on the property.