Buying land can be tough decision because there is no building in that particular area and needs a detailed understanding. There is so much to know before you jump in to buying a land such as the previous owners, the company selling it and even about the area. But there are 7 important questions that are essential to be asked by the land buyer before they go on to buying a land.
1. Is the company a reputed one in the market?
Whenever you buy a particular land from a company make sure you go through the details of the company carefully. You can always check their website and the licenses that they hold and also ask for the names of the people they have done business with.
2. For how long is the property listed for sale?
The time span for which the property is listed to be sold in the market shows the credibility of the land as in whole. The more the time span it means that there are some problems with the property due to which people weren’t interested in to buying the land. It is best to avoid such lands that have been up for sale for a long time but people haven’t gone for it.
3. Is the area around the land safe?
Safety should always be the first priority for any individual who is buying any kind of property. If you are among those people who want to make a house in that land and stay there with your family then it is best to check the area carefully and enquire if the place is safe.
4. Does the land fall under the flood zone?
There are various lands available that falls under the category of plain flood zone. Such zone means that the cost of the property will vary because you or the company has to pay for the flood insurance. You can go the local authority that has the list of the lands that comes under such a category and then deicide accordingly.
5. Is the land disputed?
When you are buying an open land then it is very important to check whether the land is a disputed land or not. There have been various instances where it was found out that a particular land came under certain department, area or has any other disputes.
6. Does the land affect any environmental policy or rule?
Environment is an utmost concern in today’s world. While buying a land it is important to see whether the land you are buying neglects any environment policy which might affect the environment in any way.
7. Is there any special taxes levied upon the land?
There are various areas which has certain kinds of special taxes levied upon them that the land owner might not tell you. Make a thorough check with the competent authority of land taxes and be sure whether there are such kinds of taxes.