Hello everyone,
We have been searching for suitable property for quite some time without much success.
We have decided to build with a prefab house supplier. However, finding the right plot of land first is not easy or cheap, especially in an urban area.
I am currently reading at least five books simultaneously to avoid mistakes that could cost a lot of money later. Many details are missing repeatedly, so no single book seems to cover everything thoroughly.
Therefore, I am reaching out to you for help.
We have found a very nice plot. Ideally, we would like to finalize everything now, but I am not sure if we have considered all aspects.
Here are the framework conditions:
The plot is not yet separated from the entire parcel, meaning that only a part of the existing total property will be purchased.
There are buildings on the site that need to be demolished. These buildings also extend onto the current owner’s land and border directly on their development.
Regarding my approach and questions:
1. Appointment with the owner to review the land register extract (is this necessary? To get access, one usually needs a power of attorney from the owner, right?)
2. Appointment with the building authority to check developability/planning permission
3. Appointment with the mining authority to clarify any risks related to mining damage
4. Phone call with the water authority (what exactly should be asked if a basement is planned?)
5. Commission a building survey report
6. Agreement on the plot subdivision at the seller’s expense before purchase (approximately how much does a subdivision cost?)
7. Cost estimate for demolishing the existing buildings
8. Financing inquiry with financial institutions (is it better to allocate part of the equity for the house purchase or use it all for the land?)
9. Purchase notarization
10. Registration of the legal charge in the land register
Have I overlooked anything?
I appreciate your help. Thank you.
Best regards and have a nice Sunday
Christoph
We have been searching for suitable property for quite some time without much success.
We have decided to build with a prefab house supplier. However, finding the right plot of land first is not easy or cheap, especially in an urban area.
I am currently reading at least five books simultaneously to avoid mistakes that could cost a lot of money later. Many details are missing repeatedly, so no single book seems to cover everything thoroughly.
Therefore, I am reaching out to you for help.
We have found a very nice plot. Ideally, we would like to finalize everything now, but I am not sure if we have considered all aspects.
Here are the framework conditions:
The plot is not yet separated from the entire parcel, meaning that only a part of the existing total property will be purchased.
There are buildings on the site that need to be demolished. These buildings also extend onto the current owner’s land and border directly on their development.
Regarding my approach and questions:
1. Appointment with the owner to review the land register extract (is this necessary? To get access, one usually needs a power of attorney from the owner, right?)
2. Appointment with the building authority to check developability/planning permission
3. Appointment with the mining authority to clarify any risks related to mining damage
4. Phone call with the water authority (what exactly should be asked if a basement is planned?)
5. Commission a building survey report
6. Agreement on the plot subdivision at the seller’s expense before purchase (approximately how much does a subdivision cost?)
7. Cost estimate for demolishing the existing buildings
8. Financing inquiry with financial institutions (is it better to allocate part of the equity for the house purchase or use it all for the land?)
9. Purchase notarization
10. Registration of the legal charge in the land register
Have I overlooked anything?
I appreciate your help. Thank you.
Best regards and have a nice Sunday
Christoph
schubert7924 Jun 2012 13:40Better move point 8 forward. And take a look at any existing development plan / zoning plan right away.
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