You’re at the closing office and feeling excited because you’re about to sign for your own piece of land!
Buy land in Texas with peace of mind by remembering to ask 6 essential questions to ask and confirm before you sign on the dotted line!
- What Are The Access Points?
That is quite important. How will I enter my land? When thinking about buying, it is easy to assume that the point of access is clear and identifiable. If so, perfect. However, this is not always the case. If you consider a piece of land that is landlocked, an easement will be required. Determine before purchase if there is an established easement or how you can put a proper entrance and exit in place on your property.
2. Are There Existing Utilities?
Establishing utilities in your name as the new owner is one thing, but it’s different to set up a new service completely. Before buying land in Texas, confirm the status of all essential utilities such as electricity, sewage, and water. Available and required services can connect each of them to critical functions of the land. Confirm the proper utility providers, and reach out to confirm any added measures required before service transfer.
Wells and septic systems can be an extraordinary expense. Knowing beforehand of any outstanding investments beyond the land itself is critical, as it could have a significant impact on the purchase decision.
3. Has The Land Been Surveyed Recently?
A happy landowner knows the boundaries of their asset. A survey may not be required to finance the purchase, but as an owner, retain it for your records. In Texas, land for sale may not have clear-cut landlines, and a survey removes the guesswork.
4. Are There Existing Tenants Or Lease Agreements In Place?
It is important to know this because once the land is purchased, the tenants are now yours! Understanding pre-existing contracts associated with your land helps manage said contracts, and it also allows you to determine the important use for the property.
5. Are There Any Tax-Exemptions For The Property?
Tax exemptions allow you to safeguard a certain amount of your property’s value from taxation and are available in most states. Whether it’s a homestead tax exemption or a more specific tax exemption associated with a particular class, i.e., military, age, income, etc., knowing this can help in your determining factor to purchase land for sale in Texas.
6. Do Any Property Improvements Not Convey With The Land?
Lighting, irrigation systems, even landscapes can be categorized as land improvements. While in some cases, the life of the improvements may be longer than others, they are not infinite. Knowing this helps determine if the value of the improvements is included in the costs of the land.
Check out this article for even more questions to ask!
Deciding to purchase land in Texas is a significant step forward in land ownership. TX-Land values knowledgeable transactions, which is why we do more than allow you to search for land for sale in Texas. We also go the extra mile in retaining valuable background research. Start your land search here!