Land is one of the durable assets most people desire to own. These days, it is becoming common to see people talking about their intentions to acquire a land somewhere around their locality or even beyond. If you live in Mission BC, acquiring a land is an investment that is worth every penny.
It is important to own a land the right way so there are pivotal questions to be asked pertaining to land purchase and sales. This is because a little misjudgment can cause one to make a huge mistake capable of ruining the whole process.
So many people have fallen prey to con men due to hasty decisions made and inadequate research when it comes to land and housing. To be safe, you need a reputable realtor who will help you find a land for sale in Mission BC and you will be sure not to have any issue after purchase. A realtor is charged with the duty and responsibility of buying and selling of properties, whether residential or commercial, and you are sure to get the best deal from them.
The desire to own a land is a noble one especially in Mission BC, however, just before you make that significant decision, there are important tips to consider and we have outlined them in this article.
How to Get a Land for Sale with a Realtor
The following are some tips to help you get a land for sale by a realtor:
Carry Out Due Diligence
It is pertinent to carry out adequate research and due diligence before you purchase a land from a realtor as some landed properties have liens and that can create an issue for you the potential buyer. While carrying out the research, it is important to do an environmental test through a home inspection where you check the nature of the land, look out for damages and check if it is a natural disaster (earthquake, erosion, and landslide) prone area.
You can also ask important questions from landowners within that location. Find out whether the land is for commercial, residential or industrial use in order to determine what fits your choice. Also take a cursory look at the road network and check if there's any development in sight. If you want to know how to determine the value of the land, you can check here: https://www.wikihow.com/Determine-Land-Value.
Hire a Personal Surveyor
As a potential landowner, do not depend solely on the survey provided for you by the realtor; hire your own surveyor who will carry out checks on the land or property in order to prevent any impending issue. The survey will provide useful information on where the boundaries are, it will as well tell you portions of the land that are usable, because sometimes not all parts are. If you want a visual representation of how the survey works, this video will be of assistance.
Set a Realistic Budget
This is one of the first requirements when it comes to land purchase. Setting a realistic budget gives you a sense of direction in your search for the kind of land or property you love and can afford. Although it is important to stick to your budget, changes and adjustments are also inevitable.
Check the Title and Get a Title Insurance Coverage
Purchasing a land ought not to be a hasty decision. It is imperative that you ensure the land has a clear title before you make the purchase, this can be done through a title search which comes at a cost. The title search helps to determine whether there are any restrictions, special assessments or easements on the land.
The title insurance coverage gives you better protection for your land or property and it comes in varying levels- checks for liens and accuracy on the property recording; additional coverage for other issues such as property line disputes.
Work Together with the Realtor
A Realtor is a professional at what he does, so it is germane you work with him. Whilst doing that, ensure the real estate attorney drafts an agreement that complies with the state's prevalent laws.
Work with a Realtor with a Specialty in Land Purchase
Land purchase is quite different from already developed property purchase. Therefore, it is advantageous to work with a Realtor with the requisite knowledge and experience in land purchase and negotiations.
Check the Land Zoning
There are lands that are sold with existing title insurance. However, the title does not cover issues that may accrue from zoning. Hence, it is pivotal to check the land zoning before purchase in order to avoid impending problems.
Compare the Value and Price of Similar Properties within the Area
Price is an important determinant factor when it comes to land sale and purchase. So, carrying out a background check on similar properties within the geographical location as well as comparing the prices and value will help you in making an informed choice regarding the land purchase.
Buying a land is a viable investment every resident of Mission BC should consider. However, the success of doing this is highly dependent on the realtor you are using. While some may get you into situations where litigations and counter litigations will mar the satisfaction that comes with a good investment, other reputable agents can help you get through the process successfully.