ᐅ What to Consider When Buying a Plot of Land from a Private Seller?
Created on: 3 Feb 2024 09:45
J
JackSparrow777
Hello, we are a young couple and relatively new to searching for land. Occasionally, something interesting comes up on classified ads. What should we pay special attention to here, and what documents must the seller definitely provide us? Understandably, we don’t want to be taken advantage of… do you have any good experiences with buying land from private sellers?
K
Konsument43 Feb 2024 20:25The standard land value provides an initial indication of what the property might be worth (usually available online). What is allowed to be built on the land? A plot where the entire area can be built up to three stories is significantly more valuable than one where only 30% of the area can be built with a single story, all other factors being equal.
The zoning plan (building plan) can sometimes also be viewed online, but an architect will be able to provide more precise information.
It is essential to review the land registry extract. You should also have a basic understanding of what it contains, such as any encumbrances that may be recorded. Additionally, it is advisable to commission a soil survey before purchasing so that you or a qualified professional can assess any potential additional construction costs. For example, an unfavorable soil class can significantly increase the cost of building a basement.
The zoning plan (building plan) can sometimes also be viewed online, but an architect will be able to provide more precise information.
It is essential to review the land registry extract. You should also have a basic understanding of what it contains, such as any encumbrances that may be recorded. Additionally, it is advisable to commission a soil survey before purchasing so that you or a qualified professional can assess any potential additional construction costs. For example, an unfavorable soil class can significantly increase the cost of building a basement.
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