So you have read Part on and you are funded. You have your license and are ready to go. The North Georgia Mountains are beautiful and there is a large amount of land available for sale . So you are getting involved in land sales. You figure hey they are not as complicated as a home.
Did you know that E & O insurance generally runs higher if you do a lot of land sales ? Here is why
1 You need to consider first and foremost is the lot buildable? In Georgia a level 3 soil test is the first step to making that determination. This is especially true if yo are dealing in 1 or 1/2 acre lots. You could find under ground water or serious rock. The reason these factors are problems is because you are dealing in septic systems. Too close to water and you will not pass environmental laws. Too much rock and you will not perk. You also need to be at least 50 feet from streams . But some counties have tougher restrictions. So if your buyer sees a great piece of property with a stream running through it do your home work!
2 Do you see fire hydrants on the road that adjoins your proerty? If not you probably do not have county water and will be digging a well. At 9 dollars a foot this can get expensive. Again something to know so that you can discuss this with your buyer.
3 Where is the nearest power pole? Utilities can charge by the foot to run electric to you.
4 What is the zoning ? You need to know if you are building your dream home and you are in an area that has just been zoned commercial.
So when you are selling land consider all of the above an insure your buyer understands that in a lot that is not developed, yes the price to buy is low , but the price to make the lot habitable may be very high.
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