Investors look for future potential. A priority would be to look at a municipal developmeant plan to see if the property is within a plan area. Personally, I would never invest in land that is not already under a municipal area structure plan. If you want to take a risk, you could look for land that was in the obvious path of development and be prepared to hold the land for a very long period of time.
Once we’ve received your signed agreement, we will begin our title examination on the property. We have a large network of established title companies, real estate attorneys, and real estate title professionals that will research the title to your property and help to arrange closing. All that is required is a few signatures on your end. There is no need to travel to complete the sale. Best of all, we pay for all the costs involved and arrange everything for you! It doesn’t get much easier than that.
Hi Aracely – great question. You might want to contact the local planning and zoning department – ask them if you’re allowed to camp on the property and/or build whatever type of structure you’re planning to build. You’re right – most townships and cities (not the county necessarily) have different restrictions that come into play in different areas. You’ll probably find that the more rural areas have less and less restrictions, but generally speaking – you should always investigate, because some rules will most likely apply.
If you have plenty of time and are not in a hurry to sell the property, and would like to do very little work I would suggest listing it with a broker. They will be able to create a listing for the property, answer phone call and emails, and handle the closing. The downside of this approach is comes at a price and you typically only get local exposure and most real estate agents who deal with both land and homes will most likely put more effort into selling their homes as the commissions are greater.
If your property and those around it have recently been rezoned, this could be a sign you can sell your property to a developer for a good profit. But nothing is set in stone. The next best step is to speak to your real estate agent, who will know what has recently sold and whether any developers are actively looking in your area. They can then assess your home to see whether it would be able to sell and some estimated figures.
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Gerard Coutts is a project management and development strategist who brings together landowners, developers, investors and industry professionals to maximise the potential of a subdivision opportunity. He says the first step for the vendor is to determine whether their property lies within the Urban Growth Boundary (UGB) – those areas designated for higher density living.
About 15 years ago the best way to market your rural land was either a classified ad in the local paper, signage off the highway or the local pennysaver. Larger companies would use radio or some other direct marketing technique. All of these marketing strategies were slower and more expensive than the options today. I know we all like to complain about inflation but in terms of online marketing we're in a deflationary environment!
Hi Rainie, if it were me, I’d be most concerned about the septic system (making sure the property passes the perc test, if it’s not located near a sewer system), making sure it’s not in a flood zone, and making sure the property is zoned properly for the type of house I want to build. Judging by the fact that there was a house on the property before, you probably won’t find many surprises here… but it’s always good to verify.
One of the most important first steps before subdividing your land or land you wish to buy is to make sure there are no restrictions that will block your plans. Everything from ordinances, neighborhood covenants to deed restrictions may prohibit – or fatally complicate – your plans. Review these items carefully, plus order a professional title review (typically through a real estate attorney) so that you can understand whether there are any deal killing issues that apply to the property and prevent subdividing.
I have an opportunity to buy 53 acres of recreational land. 9 of the acres is a pond and another 16 acres is CRP land. I was thinking about sub dividing these lots for a private campground. I currently own a single lot in a private campground about 70 acres and most lots are .18 ac that sells for $4000 each. I am looking to do the same as the owner did years ago, but with possibly my own piece of land. Without tipping off the owner on this opportunity, land for sale, what problems may I encounter, or unforseen costs will I run into?
We currently own 10 acres of land with a lot of road front footage. A very large nice development is underway adjacent to our property; the developer also recently had some type of auction and sold 92 lots. It has been brought to the attention of my husband and I that no homeowner construction can begin until development access issues are resolved. Presently, they have issues with line of sight entering into and out of the development; the development has a small privately paved 2 lane road entering onto the public highway system. Our property sits high on a small hill, it is large enough to occlude site to the left when pulling onto the highway. Our home also sits on a curve. We also have fencing – similar to what you might call pasture fence – that also occludes a drivers site pulling out as well. The developer has sent a neighbor (also his friend, may even be a partner) – who lives in the only house built in the development – although how they built that with restrictions in play – I do not know… Maybe because it was a single dwelling??? It was there before the current developer purchased it from the previous developer (who built the home in there as a “spec house”. First, this representative showed up saying they would like for us to move our fence and they would pay for us to move it (how kind). We just listened… And told him we like our fence just where it is – we know that even with the fence moved the line of site is still occluded – the hill would have to come down or be graded somewhat for it to work. 92 homes would also generate a lot of traffic. A turn lane was mentioned but no details were given – in fact no plan was presented at all. We think he was just feeling us out. My real question is how much should or could we ask for the property if we agreed to whatever their plan is – of course, we would see the plan proposals and bring in a lawyer. I don’t know how to begin to calculate it! I have considered 92 lots multiplied by something! Maybe 20,000 each? My husband spoke with a member of the NCDOT who was out here doing some surveying – he stated that the DOT really had no interest in the property – I want to take that to mean they would not force access for the developer – but I do not know – my knowledge is very limited on this subject. Bottom line is they are in “a real pickle” if we decide not to accommodate/sell them the needed frontage. No money has been offered – it was just stated that we would be compensated. It seems we are in the position of power as far as a selling price – as they cannot develop without meeting those requirements. What would/do you advise and what resources should I use to educate myself. I have found the Policy on Street and Driveway Access to North Carolina Highways and been reading over it. I really do not want us taken advantage of either as far as the construction phase and the end result to our remaining front yard.
I would appreciate your opinion about my situation. When I purchased my home on 5 acres twelve years ago, the builder included two acres at no additional charge. Both the 2 acre and 5 acre parcels are adjacent to each other. So, I have two properties with two tax bills. In the future, I plan to obtain a reverse mortgage, so I would like to maximize the value of my home by combining both parcels into one larger 7 acre parcel.
As for what type of land can be used for horses – you’d probably have to call your county or municipality planning & zoning office and ask them what the zoning would have to be for this particular use. Once you know the answer, it’s pretty easy to generate a list of these land owners with a service like AgentPro247 (as I describe in this blog post). You could then send out a direct mail campaign and try to find deals on this type of property (at least, that’s why I would try to do if it were me).
Pricing land can be trickier when compared to pricing a home. Developed lots in communities may have a clear “market” price based on the recent sale of similar lots. Raw land, however, may have fewer “comparable” sales to use in determining your price. In addition, the price you ultimately can attract for a singular lot or undeveloped land can vary greatly depending on the buyer’s intended use of the property. For example, if a buyer feels that your acreage is appropriate for a high-end home development it likely will bring a higher price per acre than if a buyer only intends to build a single home on it.