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OT: Land Purchase what do I need to know

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Old 12-21-2002, 10:27 PM
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Thanks guys for all the info. Lakeracer I will try and get a call in to you in the next day or two.

I know what you guys are saying about my "girlfriend" but we are engaged to be married soon so I am not worried. I know that there are people that are breaking up and it can get ugly, HOWEVER we can not always base out relationships by those of other people. The are all different and we think ours is strong and will grow, in some part due to problems we had a while back in our relationship.

I have to talk to my friends in the area about the exact process of the dock installation. From what I know so far is it has to be no greater then 300sq. and also has to be a "temporary" structure. You can drive down posts in but the dock has to be able to be removed. As far as the EPA OKing anything I believe but still have yet to check that that only comes into play if you are asking for a varience to have more dockage or if you want to do anything to the shore line (like to prevent errosion). Other then that I am basically clueless

MNFastboat: I TOTALLY agree with get as much info as I can. Water is one thing that I DID NOT think about but I have now added it to my list. I am definatly working on trying to cover all bases and I think that eventually I will know enough to really know that I am making the best decision. I have already talked to my accountant and he agrees that it will be a good thing as long as I can make sure that all the formentioned stuff is checked out.

Jon
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Old 12-21-2002, 10:53 PM
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Sometimes neighborhoods wil have covenants that will control what materials you can use, the house type ect. These are not zoning restrictions. Those are another layer over a covenant. You mention waterfront property. Many times there are very strict restrictions controlling development in a flood plain/flood fringe area. Make sure that you understand these restrictions fully. To develop a piece of property in a flood fringe area can result in thousands of dollars in engineering fees. Not to mention additional building costs.

I believe that Wisconsin requires the ENTIRE pier to be removed. Naturally, you state will be different. Check into it.

I think that Fred offered some good advice about contacting an attorney. He will know what to research and will have experience in the area. It will proably cost you alot of money initally, but you may save a bad investment in the long run.

FYI-Becase the property doesn't have an improvement on it (ie structure) it will be tough to get a loan to purchase the property. You may end up paying cash for it. Having that much cash invested into the property may leave you short handed when it comes time to get a construction loan. Be sure to look into that aspect.
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Old 12-21-2002, 10:55 PM
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If you really are looking for something that you can move into when you get married, then I'd recommend a older house that is near move into condition. You will get alot more home for the same money than trying to build a new one on a choice piece of land. Yes, I know that we all want our parents homes, but there will be another one. Get something that is small with two bedrooms and live in it for 5 years. Then start looking for somthing that's big enough for the kids. You'll have alot more income and will be able to get a more desirable piece of property.
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Old 12-21-2002, 11:07 PM
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Cord I am not looking to move into this place for quite a while. I am looking more to get the land now and start to do the stuff I can myself, ie cleaning the underbrush and all that jazz. Also get the dock in quick before anything with the laws may change and leave me screwed with that.

As far as flood area this land comes out of the river steep and then goes up about like what we see at Lazy Days Inn. Not quite that bad but similiar to it. SO it is WAY up on a hill. Sould be able to avoid any flood issues.

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Old 12-22-2002, 02:23 AM
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Jon
If you flood way up there the only useful boat will be an ARK!!!

For the Dock, get a design, bring it to John T. and bring $35. Then we will start HAMMERING!
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Old 12-22-2002, 06:03 AM
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That waterfront parcel has already been approved by the DEP and the town, as far as docks are concerned. The seller has done intensive research and has most everthing in order. I think what needs to be done is a septic design and placement of the well.
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Old 12-22-2002, 07:06 AM
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Thanks Ken and Kurt. You guys would know you both have land up there Hey Kurt do you have the plans yet? Or should I call him?

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Old 12-24-2002, 01:05 PM
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Ok, so the property will not be on a sewer then? You'll want to have a perc test done so as to verify that the property can actually be built on. The report will explain what kind of system will be needed and hopefully will provide some budget cost estimates.

Wells can be a tricky number. I assume that with the bluff that the water table is going to be rather deep. Try talking to some of the neighbors to see what their well depths are. Usually wells are priced by the foot with adders for solid rock or having to case the well.

Speaking of solid rock...I presume that there is not an issue with high bedrock in that area. Bedrock can be a fickle thing that hides just a few feet below grade. Again if you neighbors built, then they should be able to help you out.

With the bluff, I have a concern. I would like to know if the bluff is stable. Often these steep hills are slowly creeping and can cost a ton of money to stabilize. A trained eye can spot creep pretty easily. If there are trees on the slope, look at the trunks. Are the trunks growing straight up? Or is there a curve in the bottom couple of feet? If there is a curve, then the slope is not stable. Either way, I would not remove brush from the slope and it is serving as an erosion control.

I find it encouraging that the current owner has done alot of the preliminary work for the lot. This work could have been done for two reasons. One is that he wanted to make the property more saleable. The second is that he wanted to build on the property and wasn't able to. Obviously the second reason would concern me more than the first.
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Old 12-24-2002, 01:23 PM
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Cord thanks for the time bro. The former owner is actually a really great guy. Kurt and alike have all done property deals with him in the past and he is just old dude that used to own a Horse camp up there and is selling it all off slowly. When I talked to him he has not even really laid out the property lines yet. He said that this price gets you this much land you figure out how you want it positioned (within reason). He does not want me to buy a "spagetti" lot as the town will not allow it and he does not want that. He is sending me paperwork with the lots laid out as he thinks they should be and I hope to have it before I go up there on the 31'st to look around.

Jon
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Old 12-24-2002, 01:41 PM
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Stiil sounds great Jon,,, good luck !!!!!!
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