ᐅ Buying Land: What Are the Crucial Considerations? Any Tips?
Created on: 7 Jun 2019 21:26
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philipp1990
Good evening everyone, we’re hoping for strong support.
Background: My partner and I don’t feel any pressure to build a house or buy a plot of land. We wanted to take advantage of this "no pressure" situation by calmly looking at different properties until we both experience the WOW factor and then make a move.
On May 1, 2019, we inquired about a plot of land that already looked promising in the pictures in terms of location and size. We submitted our inquiry but unfortunately did not receive any response. This morning, on a whim, we decided to call the real estate agent to ask about it. She apologized and told us exactly where the plot is located. She also mentioned that she had shown the property to another interested party last week.
We jumped in the car and drove to the site... and as expected... the WOW factor was there.
We called the agent and told her we had a good feeling. She was happy but mentioned that the other interested party had also expressed interest again during a call today.
We are meeting with her alone at the plot tomorrow afternoon to talk in person.
On the way back, we spoke with the bank; financially, this is not an issue.
There is still a house on the plot that would need to be demolished.
The listing says the following:
The plot with the existing garden house is very quiet, romantic, and located at the end of a small access road. Nevertheless, all daily necessities can be reached within a few minutes, and the highway entrance is only a few kilometers away.
The garden house requires renovation or demolition. If you are planning a new house, nothing stands in the way.
The garden house looks bigger than a typical garden shed. It seems to be an old, dilapidated residential building.
It is not clear from the listing whether the plot is connected to utilities, but a telephone connection appears to be present. The telecom provider was already able to confirm what type of internet service we can get there.
Are there any important points we should urgently clarify or ask about tomorrow? Also, do you have any ideas on how we can secure the plot?
Thank you very much
Ina & Philipp
Background: My partner and I don’t feel any pressure to build a house or buy a plot of land. We wanted to take advantage of this "no pressure" situation by calmly looking at different properties until we both experience the WOW factor and then make a move.
On May 1, 2019, we inquired about a plot of land that already looked promising in the pictures in terms of location and size. We submitted our inquiry but unfortunately did not receive any response. This morning, on a whim, we decided to call the real estate agent to ask about it. She apologized and told us exactly where the plot is located. She also mentioned that she had shown the property to another interested party last week.
We jumped in the car and drove to the site... and as expected... the WOW factor was there.
We called the agent and told her we had a good feeling. She was happy but mentioned that the other interested party had also expressed interest again during a call today.
We are meeting with her alone at the plot tomorrow afternoon to talk in person.
On the way back, we spoke with the bank; financially, this is not an issue.
There is still a house on the plot that would need to be demolished.
The listing says the following:
The plot with the existing garden house is very quiet, romantic, and located at the end of a small access road. Nevertheless, all daily necessities can be reached within a few minutes, and the highway entrance is only a few kilometers away.
The garden house requires renovation or demolition. If you are planning a new house, nothing stands in the way.
The garden house looks bigger than a typical garden shed. It seems to be an old, dilapidated residential building.
It is not clear from the listing whether the plot is connected to utilities, but a telephone connection appears to be present. The telecom provider was already able to confirm what type of internet service we can get there.
Are there any important points we should urgently clarify or ask about tomorrow? Also, do you have any ideas on how we can secure the plot?
Thank you very much
Ina & Philipp
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philipp19908 Jun 2019 20:34For us, the property issue is settled—we believe they are working together behind the scenes. But we will keep you and the others involved in this thread updated. We have learned a lot here. Thanks to everyone.
philipp1990 schrieb:
She offered to negotiate the land price down with the owner, and in return, we were supposed to pay her double her commission in cash (in an envelope)... The real estate agent seems very suspicious!
philipp1990 schrieb:
Flooding was mentioned as an issue, and the soil is contaminated because the previous occupant buried trash underground. The neighbor is even more suspicious!
philipp1990 schrieb:
For us, the property is off the table; we believe they are in cahoots. But we will keep you and others here in the thread updated. We have learned a lot here, thanks to everyone. Just because a seller seems suspicious doesn’t mean you have to forgo the property. The circumstances affecting the land were quite evident.
The fact that the property boundary isn’t marked by a fence and the ground is overgrown was something you actually liked, if I recall correctly:
philipp1990 schrieb:
It happened as it had to... the WOW effect was there. Aside from the fact that it was good you didn’t accept the unethical offer, it’s always important to look beyond the surface of a property. The reasons you gave for not buying now seem quite surprising and hard to understand.
What if the agent had acted properly and there had been no neighbors present?
What if the land were offered again without an agent?
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philipp19908 Jun 2019 23:44As mentioned, we are not in any rush... it has to fit our needs, and we are planning to start building no earlier than mid-next year. Something unprofessional like that is not for us. Regarding the second buyer... I don’t trust anyone who does something like that, essentially betraying their client for personal gain... we won’t be the first ones they have tried this with... and they said it’s supposed to be a great community... I don’t want to be part of any community like that...
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Strahleman9 Jun 2019 00:40The report about the viewing appointment reads... interesting. Unfortunately, you regularly encounter agents like this. Actually, the second interested party who almost wants to buy is quite common. We have experienced this with three plots of land, one of which is now listed online almost 6 months after the call with the agent at a price 20k lower.
I would see this as a learning experience for you. Don’t be too naive, don’t believe everything the agent says right away, and it’s best to research zoning plans or restrictions yourself (for example, we once received a hand-drawn sketch of building boundaries from an agent for a plot that, in reality, was not allowed to be developed). Agents can be helpful, but often they just want to secure their commission and don’t actually do much for it.
I would see this as a learning experience for you. Don’t be too naive, don’t believe everything the agent says right away, and it’s best to research zoning plans or restrictions yourself (for example, we once received a hand-drawn sketch of building boundaries from an agent for a plot that, in reality, was not allowed to be developed). Agents can be helpful, but often they just want to secure their commission and don’t actually do much for it.