10 questions about buying land

10 Questions To Ask Before You Buy Land

Buy land in Tennessee with peace of mind by remembering to ask these 10 essential questions before you sign on the dotted line!

1. What Are The Access Points?

That is quite important. How will you enter your 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 Tennessee, 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 Tennessee, land for sale may not have clear-cut landlines, and a survey removes the guesswork.

4. Is this land desirable for someone else to buy?

While you’re likely thinking you’ll buy land for your dream house or to start a homestead, life happens and you may need to sell. So before you buy, it’s important to consider if you ever need to sell the property, would it be appealing for someone else to buy it?

5. 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.

6. 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 Tennessee.

7. 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.

8. Is there an HOA on the subdivision?

Make sure you ask the agent or company you’re working with to buy land if there is a Home Owners Association on or around the property. This can significantly hamper your plans for how you want to use your land because you’ll need to follow the HOAs rules about what can and can’t be put on your property. You’re buying this land to make it what you want, so make sure you’re still able to do that even if an HOA is present.

9. Who are your neighbors?

While you’ll be out in the country and your neighbors won’t be so close, you’ll still have neighbors. So be sure to ask the owner of the property if they’ve met the neighbors before and what the neighbors are like. You can find the perfect property for you but if your neighbors are loud or a nuisance, it can turn your dream property into a nightmare! 

 

10. Can you use the land the way you want?

This is the last question but it is certainly not the least important question! You will want to check if you can use the land how you want! This includes checking if there is an HOA, which we just talked about, and it includes making sure there is a buildable site on the property. You’ll also want to ensure that the property is zoned correctly for you to be able to start a homestead or have cattle on it if that’s what you want to do. Again there is nothing worse than buying property that you love only to find out you aren’t able to use it how you want!

Check out this article for even more questions to ask!

Deciding to purchase land in Tennessee is a significant step forward in land ownership. Legacy Farm Group values knowledgeable transactions, which is why we do more than allow you to search for land for sale in Tennessee. We also go the extra mile in retaining valuable background research. Start your land search here!

Contact us to get started on buying your land in Tennessee! Explore our available properties here