Buying Vacant Land in Buffalo
If you are interested in buying vacant land in Buffalo, NY, there are a few precautions you should be aware of before purchasing the property. Here are some tips to keep in mind.
Buying Vacant Land in Buffalo | Utilities
It is very important to check the status of all utilities associated with the property before making a deal. Be sure to determine if there are oil or gas leases on the property, and also what utilities (gas, electric, cable, water, and sewer) will service the property. If public water is not available, obtain an estimate from a well digger.
It is also recommended to ask the owner if a percolation test has been done for a sewage disposal system. If not, have a percolation test contingency clause inserted in the contract of sale. The cost of fill may be prohibitive.
Buying Vacant Land in Buffalo | Location
The location of the property is also very important, with a lot of determining factors. For example, purchasing vacant land that is in a flood zone would not be ideal. Likewise, if the property is in an agricultural district, farming activities may cause noise, dust, and odors. Be sure to check with the planning board to determine what type of development is planned in the area. It would also be beneficial to check for signs of hazardous waste dumping, if necessary, by having an environmental study done.
Buying Vacant Land in Buffalo | Zoning Requirements and Regulations
If zoning requirements are not checked thoroughly before purchasing the property, you may have to address code violations that set you back financially. Be sure to check with the town building or zoning department to find out what building and other permits are required and the zoning requirements that will have to be satisfied. Also, you should also determine whether state, county, or local subdivision regulations have been met.
Buying Vacant Land in Buffalo | Contract
Perhaps the most important factor to consider when buying vacant land in Buffalo is the contract itself. Make sure that the contract of sale indicates the lot’s dimensions and size. The contract should also require the seller to have the lot staked by a surveyor. It would also be helpful to insert a provision stating that the contract is subject to your attorney’s approval as to form and content.
If you have any questions about buying vacant land in Buffalo, please contact our experienced Buffalo real estate lawyers today for a free consultation.