Check List for Land Purchase
Posted By @ Sep 21st 2012 2:27pm In: Making Offers
Simple Check List for Land Purchase
- Will your house site perk for a septic system? Get a permit from SCDHEC before you close.
- Have a survey done. Property lines do not move; the seller’s memory is not always correct. A new survey will mark the lines; a plat will be a drawing showing land lines as well as improvements. All the corners will be marked. After closing remark the lines with white oil based paint. It will stay on the trees for years and you will know where the property boundaries are. White PVC pipe over the pins is a good idea too.
- Title Search, is also a must. Checking the title back 60 years ensures that the party selling the property has the right to sell as well as protecting your interest from any claims in the future. Banks require a title search and insurance to protect them, as a buyer you need the same protection. Title insurance is a one-time fee and like any other insurance you want to have it but not to use it.
- Finally, add this property to your homeowner’s insurance binder. You do not know when someone will get hurt on your property and with or without your permission, you can be liable. Ownership in property creates another asset to protect.
Tags: land for sale