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Buying A Lot With All Due Diligence Performed Prior To Purchase Could Save A Lot Of Headaches Before
Sometimes purchasing a lot puts you in unknown territory that you don't realize you get yourself into. The "What ifs" may be harder to understand than you realize and if you don't use a professional realtor who knows about land use and enviromental impacts, it could become a disaster. Some good questions to ask yourself and your Realtor before going to the closing table are:
1. Does the property have any encroachments?
2. Does the property have any environmental impacts, i.e. wetlands, beach mice, coastal setbacks.
3. What is the topology of the property?
4. Is the property in a flood or wind impact zone that will impact insurance?
5. Here is a good example of a lot that had all due diligence performed prior to even listing.
6. Will the property require any special permitting, county, state or federal, that will be needed to build?
7. What is the lot zoning?
Many people when buying a lot outside a newer subdivision do not realize there are more unknowns than buying inside a newer subdivision. A lot giving Metes and bounds may be entirely different than buying a lot that is platted in a subdivision because many times the developer has performed the due diligence prior to listing the lots. In other words, you aren't faced with these questions, but be careful when you purchase and ask good foundational questions of your realtor. Your realtor should have the resources to answer the questions and if not there may be required due diligence from surveyors, environmentalists, and consultants that can help make the purchase feel more comfortable to you in the end.
Below is an example of a lot located in Point Washington that has had all feasibility performed and gives you some ideas of what to look for in due diligence that can and should be done on a lot that may not be in a subdivision.
ALL FEASIBILITY PERFORMED ON LOT AND READY TO BUILD WITH DEP PERMITS IN PLACE. LARGER LOT IN MAGNOLIA BEACH AND NO HOA FEES! This .34 acre lot is 100’ x 150’ Is located two blocks from the Choctawhatchee Bay! Magnolia Beach is a beautiful subdivision appointed with Magnolias and hardwoods. This double lot has had extensive environmental work completed to include planting of native landscape and gravel drive leading to the preferred building site. Enjoy everything Point Washington, Santa Rosa Beach and the Beaches of Walton County, FL have to offer. A quick drive south on Hwy 283 (Bay Drive) takes you to the heart of Grayton Beach and 30A.
Kimberly Maxwell, a fourth generation in Walton County, knows the community and its wonderful lifestyle firsthand. Although she was born in NYC, moved to NC in her high school and college years, her m....
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Lots of visitors through the years have passed through our tiny town of Freeport- not knowing that the town is really an incorporated city in Walton County and is rich with history.