By Terri Woods – Terri sells real estate in North Monterey County (including Aromas, Prunedale, Salinas, Moss Landing, Pajaro Dunes) and Santa Cruz County
Terri's checklist for buying a LAND or a LOT
What are you going to do with the lot/land? Are you planning on building, hunting, camping?
What is the zoning? Does the zoning allow me to use the lot/land the way I want to use it?
Does it have utilities? Is there city services? Well? Septic? Electricity? Cable? Internet accessibility? 4G? Are the utilities above ground or buried?
What do the neighbor’s property look like? Will my neighbor’s property increase my value or decrease my value? (I was showing buyers recently who chose not to purchase a home because of the neighbor's lot. They called it “The Clampetts” property – you know, the Beverly Hillbillies before they were “Beverly”? Oh, the fun memories. )
Click to watch the very first episode
Are there any easements? Permits? Setbacks? Deed Restrictions?
Financing? If you choose to finance, be prepared to put more as a down payment as compared to a home purchase. A lender may require 20% – 50% down with a possible higher interest rate.
Is there any future plans for the property by the governmental agencies (i.e. highway proposal, high-speed railway, landfill, power plant, etc.)
Is there easy access to the property? Paved road? Legal?
Is it in an area of heightened natural disasters? Extra Fire Insurance? Landslide? Flooding? Protected Habitat? Smells? Sounds?
Is there a recent survey with clearly marked corners?
Don’t expect the seller or the Seller’s real estate agent to have all the answers to your questions. As a buyer, you are in charge of your own “due diligence” in finding answers to those questions and any other questions that may arise.
Call me and I will help you with resources and the gathering of information so you can make an informed decision.