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I want to purchase some property but have a few questions need be answered beforehand. Please Help.

What are the fees that "MUST" be paid when purchasing land? What cash must be in hand when purchasing land? How can a buyer find out if the land is flood, swamp, or sinking etc..lemon?What can you put (build) in a no restrictions property? Is recreational land livable and/or can it be used to build barn for storage?What is the legal definition for the term "living" (in) or living (on) property?In NY state; toilet, shower, bed, kitchen evident the term "live in" What items are considered to make a "place" lived in within the state of Florida or does defining differ per county ?
  • October 10 2012 - US
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Answers (3)

The term, "All real estate is local" really does apply here.  Looks like you have examples / questions from multiple states.

Your questions can't really be answered generically, as each piece of property can have different restrictions on the deed.  For example, I may be to have a horse, cow and a pig on my lot, but the lot next door may have been restricted against that by the previous owner.

The same goes for building guidelines.  I may be able to have a new mobile home on mine, and the lot next door may require a minimum amount of square footage and certain building materials even....

If you are looking at raw land, make sure to get an agent that is experienced in 'Dirt Sales'.  Their local knowledge will come in handy, and I recommend one that will walk the lot with you, and dig up the necessary documents to make sure you can do what you are thinking about doing.

Best of luck!
  • October 12 2012
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There are no "standard" fees in real estate since everything is negotiable, but you can count on your share of escrow & title fees, inspections, and most likely County recording fees for transfer of ownership & prorated taxes depending on the closing date and local rates.  Many of your answers can be answered on a case by case basis.  For instance, you usually need all cash to purchase land, but the current seller may consider owner carry back financing.  You may also obtain geological/soil reports and surveys from local companies as a part of your due diligence once you have entered into a contract on the land if the Seller does not already have such reports.  Usually, this is at your expense as a Buyer, but in some cases it may be negotiated.  Also, land improvements do vary from County to County and dependent upon size and location of the lot (Zoning or Building and Safety Departments of local County may assist).  All of these local ordinances will help to answer your specific building questions, and as another poster has mentioned, a land Broker in the area is the best person for you to work with if you want to cut out a lot of time and guess work.
  • October 11 2012
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You should work with an experienced agent to purchase the land so you avoid problems. All these questions are why you should hire an agent.
  • October 10 2012
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