OT: Land Purchase what do I need to know
 

My girlfriend and I are looking at buying some land up in Maine as a kind of forced investment for me and I am wondering about all the things I need to look at and consider. It is waterfront land, and is 1.5ac's The waterfront (about 600 feet I was told) is shared with 2 other lots that I hope to buy in the future. The town will allow 3 docks to be put in that are 300sq each or one 900sq dock.

What is the process? I have never purchased land before.

I plan on getting a survey and the owner will take that off the price if I purchase. I also plan on having the soil inspected and a perk test done to make sure it will take a septic no problem. I also will have to find a land lawer up there that can look everything over for me. What else am I missing, should I consider?

Thanks
Jon

The only thing I do know about waterfront is if you are buying the property to build a house someday. Ask is the area populated enough to have a sewer system or not. Septic systems near waterfront are a good thing to find out aout in that area.

Perk Test!!

obnoxus has a good point. The septice will not only have to be a certain distance from the house, also from the water. The county official doing the perk test should know these specs.

Also get Title insurance. that simply makes sure that the title is free and clear and with no outstanding leans. On vacant land you may be able to get by with just a warrentee deed. Ask your lawyer the difference.

Check on local building restrictions. You don't want to buy something only to find out latter that it is unbuildable because of a rare rat the lives under a dead tree in the corner.

Good Luck Jon, as the say. They aren't making any more waterfront land.

Thanks guys. The current owner I think puts more restrictions on building in the salea agreament then the town does :D:D He sold one piece to a guy and the dude clear cut the land and basically set up a trailer park. :(:(

I will make sure that when I have the perk test done that I will not have any problems with location on the property. So far all my friends up there have had no problems with septic and they SEEM to be in tougher locations then this but I guess you never know.

Jon

Although the town will allow docks to be built , just be certain the dreaded Dept. of Environmental Protection doesn't have to issue a permit as well...

An environmental impact study (something they normally require) can be VERY expensive !

Good Luck !!!!!

Surveyor
 

Jon,
Get a GOOD surveyor. There will be some cheap ones out there but don't fall for the price alone. You want to make sure that you are really getting the land that you think you are getting. That sounds silly but it is true and I have seen it happen. When ordering the survey make sure that all of the property corners are monumented and flagged so that you can SEE the property corners. Get a results of survey plat/map drawn up that the surveyor has to seal and sign. The survey should show (at a minimum) the property, any existing improvements, trees, utilities, recorded easements etc. It should also show potential property conflicts (if any) with what I just listed. I don't know the prices of surveys in Maine, but I would venture to say that a good surveyor will cost $1500 and up. Remember, you get what you pay for.

If you have any questions, just call me 602-318-5785. I'll help you in any way that I can.

Art Witzell
Registered Land Surveyor
AZ 26412

Just a small word of advice. You started out by saying "my girlfriend and I". That statement brings on a whole new set of problems visited recently on this board. Make sure on the front side issues are adressed as to breaking up, death of a joint owner and who gets what...

Zoning is big. Historically there are not the problems with a trailer next to a million dollar home on lake property but a pig farm across the street may hurt a future sale.

I do not see any mention of a well????
You plan on drinking the lake water ;)
Info info and more info

Like one movie star to another---- The largest commodity not on the market is INFORMATION!

Good your thinking of a place to **** :) but you also need water to wash that food down that makes up that healthy dump you take twice aday :)
Congrats on being able to buy land, especially water front :)
Would love it.

[QUOTE]Originally posted by Wes Smith
[B]Although the town will allow docks to be built , just be certain the dreaded Dept. of Environmental Protection doesn't have to issue a permit as well...

Good point Wes!
I have had to deal with the DEP several times recently.
Jon, the town is #2 when it comes to the shoreline. The DEP is #1.
Also, before you buy, make sure you put a clause (not Santa) in the contract: "subject to issuance of building permit".