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what do i need to know about a peice acerage before i buy?

Alyssa
Home Buyer
Casper, WY

Answers (3)
First to answer: Oly
Ellen Alley
Broker
Wheatland, WY

You need to know as much as you can about what you are buying. Is it in a subdivision? Are there covenants? Is water available? Are there any mineral rights and who owns them? Is water by a community well, the city, or do you have to drill a well. What type of sewage disposal? Individual septics or community or city? What is it zoned for? Let me know if I can help you further by recommending a real estate agent in Casper who can help you.

Tue Apr 28 2009, 13:38
Bryan Furse
Agent
Atlanta, GA

To answer that question you have to ask yourself one very important question: What is the property being purchased for? What you need to know will depend a lot on what you're going to do with the property, but the simplest answer, frankly, is this: What do you need to know? EVERYTHING! Or at least as much as you can find out. Oly's answer is good. I would add that you should get a survey done. Surveys might be available, but it's best to get your own. But no circumstances should you buy a property that has not been surveyed recently; things change; old surveys are of limited value.

It also is helpful to find out as much as possible about the seller and their motivation for selling.

My advice is also to get as much valuation info as possible. Acreage is often harder to determine value for and opinions can vary. You'll want to be able to get a solid idea of the property's true value.

Tue Apr 28 2009, 11:30
Oly
Agent
Jackson Hole, WY
FIRST ANSWER

Alyssa:
Buying property is not really different than buying a home, except there is no house :-) You will need to look into the water rights to the property, or depth of wells in the surrounding developments. The description of the property size and ask the seller to have the property marked at the corners so you know what you are purchasing. You will need to find out about winter access to the land and what fees are associated with that, if any. Any considerations in the CCR's about building restrictions or use restrictions. Mineral rights might be another good question to get answered, some areas have drilling rigs brought in as a next door neighbor which might not be the best living conditions. A good deal of items to consider other than these as well depending on the situation. Get a buyer’s agent to help you with these you will save yourself a lot of leg work, but make sure they get you all the answers. Good Luck
Oly Olson

Web Reference: http://olyolson.com
Tue Apr 28 2009, 11:17

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