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Tag: due diligence

Finding the Right Business Partner to Improve Your Game in Real Estate, Homebuilding & Development

Most people in real estate and home building will consider at some point whether to team with a business partner. Let’s face it, sometimes it just does not make sense to try to do things on your own. And whether you’re embarking on a large-scale development project, building a single home or investing in your first real estate venture, the right business partner in the right situation could be the key to help you improve your game and your likelihood of success. Building partnerships can be a very broad topic (entire books and courses teach the subject), with a variety…

7 Land Investment Trends to Watch

Trends in the land investment market are providing some interesting opportunities for investors… Land is finite. Like any finite resource, land becomes more valuable when it’s scarce. Land in desirable locations can command tremendous prices and provide excellent investment returns. By definition, land investors have a goal of making a profit by investing in land. But consider that land investors can have a variety of backgrounds and purposes, whether they may be individuals looking for property to build their dream home (and their nest egg), investors seeking a portfolio of parcels to land bank or real estate developers buying a…

Use Real Estate Professionals: Tip #8 for Buying Residential Lots and Land

All of the 8 Tips for Buying Residential Lots & Land for a New Home play an important role in evaluating a lot or land for sale, but it’s possible that the single most significant tip is to make sure you are working with experienced, knowledgeable and helpful real estate professionals. The A-Team Successfully identifying and purchasing that “right” property often requires the help of professionals with whom you work very closely – like an agent, home builder and architect. These primary contacts for buying lots or land for a new home are your A-Team. Choosing a good A-Team can…

Research Title & Restrictions: Tip #7 for Buying Residential Lots and Land

In our last post on the 8 Tips for Buying Residential Lots & Land for a New Home we discussed roads and access, including easements that may benefit your land. Now we will shift our focus to title restrictions and other restrictions that may burden your land. Before buying a lot, you always should review the lot’s title and get owner’s title insurance. Reviewing “title” for a property typically includes an in-depth study of the parcel’s history through land records, maps, liens, legal documents and other facts on the public record that may affect a property. This may sound boring,…

Roads & Access: Tip #6 For Buying Lots and Land

Our journey through the 8 Tips for Buying Residential Lots and Land for a New Home continues with a look at the important Technical Due Diligence topic of roads and access. Access: Don’t Get Landlocked Landlocked. It’s a real estate term that describes land completely surrounded by property owned by other parties, impacting the owner’s ability to freely access the land. This Tip can help you better understand access issues so that you can avoid buying property that is landlocked – or otherwise has inadequate access rights – in the first place. Typically, lots for sale in newer residential communities…

Utilities & Infrastructure: Tip #5 for Buying Lots and Land

If you’ve been looking at residential lots for sale to find a site for your new home and you’ve found your community, evaluated builders, done computer research and checked out the property with a site visit, then it’s time to transition into the Technical Due Diligence stage. This post describes tips for evaluating infrastructure and utilities at the property, and is the first of several posts in this series to focus on Technical Due Diligence. If you’ve decided to put the property under contract (which can allow you to negotiate price, determine key terms and keep it from being sold…

Check from Satellite to Street: Tip #3 for Buying Lots and Land

So you’ve put some thought into the style of your neighborhood, the general area where you want to live and the type of builder you will consider using to build your new home. Now the fun begins! You can start to actually locate the specific building lot or land where your new home will live. Due Diligence: It’s a Process If you’ve done some online searches on LotNetwork.com, you likely have found several building lots for sale that you think could be the perfect lot for you. Now you must determine if a particular lot really is what you want…