When choosing a vacant building lot in Pinehurst nc, southern pines nc or any anywhere else, consider these 10 very important things to do or questions to ask:
1. Ask for copies of all existing real estate surveys and consider getting one of your own to make certain that you are aware of any encroachments, easements, etc. on the property.
2. Find out whether public water is available to the lot when you build a new home. If so, what's the tap fee? If not, what is the price range of getting a well drilled? (a range is the best you are likely to get, even from the most reputable companies).
3. Find out if the property has access to a public sewer system. If so, what's the cost of hooking up? If not, what is the cost for constructions of a septic system and what is involved in the permitting?
4. What are the taxes?
5. Are there any homeowners fees or governmental assessments?
6. Are there any building setbacks, restrictive covenants or architectural guidelines that apply to building a new home? Read all of these documents before making an offer to buy. If there is a homeowners' association, don't be shy about calling the association president if you have unanswered questions.
7. What school district is the vacant lot in?
8. What can be built next door to the property?
9. Get a title search and when you buy, make sure that you get a title insurance policy that includes what is called "survey coverage".
10. Find out if there is any pending or threatened moratorium on building new homes. Believe it or not - it happens!
Get all of these questions answered by your real estate broker and by a lawyer who specializes in property and real estate closings. For more information, please also visit us on the web at: http://www.mcdevitttownandcountry.com or call 800-788-8814.
Jamie McDevitt is Broker/Owner of McDevitt Sotheby's International Realty, a full service real estate brokerage serving the Pinehurst and Southern Pines, NC market.
copyright 2008, McDevitt Sotheby's International Realty
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