Buying land is a great way to secure a future retirement home, establish a fun camp ground for your family, or simply build long term wealth. It’s easy to get caught up in the excitement of the buying process, and often times its a straightforward process without a lot of hassle. Nonetheless, it’s important to protect yourself when buying land. Here are three things every land buyer should do before putting their money on the table:
- First, confirm the seller owns the property by calling or emailing the county recorder. Sometimes ownership information may be out of date as the current seller bought the land recently. This is why it’s a good idea to communicate with the county recorder directly rather than relying only on an online search. If the current seller doesn’t own the land but has an option to buy the land from the current owner, ask the seller for a copy of the option contract.
- Second, confirm the land use and understand any restrictions on the property contacting the county’s planning office. If you want to put your RV on your land, hunt, dig a well, build a house, etc, you’ll want to confirm with the county that the property you’re buying is zoned or permitted to do so.
- Third, confirm there are no taxes owed on the land by contacting the county treasurer. There shouldn’t be any taxes owed on the land you’re buying, and if there are, you should make sure the seller pays them before buying the land yourself.
Fortunately, it only takes a few minutes to call the appropriate local authorities and get this information and can save you some serious headaches.
Happy land investing!