Buying Undeveloped Land

Zach M · Posted: Jul 08, 2008 12:35 pm Post subject: Buying Undeveloped Land

Some of you may remember a post a while back that was asking about financing a boat between three people. The boat that we were looking at fell through and we haven't found anything yet. After doing a little research, we have decided to buy some undeveloped waterfront land to eventually build a cabin on. We are looking in the Hood Canal area (for those that know the PNW), and are looking at spending less than $150,000. After doing a few google searches, we have found property around the 2-5 acre range, all with electricity at the roadhead, no sewer, and no water.

Do any of you have experience buying undeveloped land? We will get a realtor who specializes in this, but I would like to come in with a little knowledge and some good questions to ask. We will obviously have to build a septic system, dig a well, and make sure the land is buildable. What other things should I be asking about? Any help would be great.

vette74 · Posted: Jul 08, 2008 12:39 pm Post subject:

In different areas there are requirements for distances between well and septic. Make sure you know what it is. What is the 100-yr flood plane elevation? Special permits for building bulkheads/ docks? Zoning?

brew · Posted: Jul 08, 2008 12:43 pm Post subject:

I would make sure to cover the water/sewer, electrical issues before buying. Sometimes depending on the water source, you can run into a lot of problems with wells/septic systems such as being required to set it back a certain distance from the water line.

You will probably want to look at what kind of structures they allow to be built on the water (whether the dock has to be floating or fixed, whether it can be covered, if lifts are allowed, etc.) I would also ask about the flood zone/high water mark for building purposes and what kind of setback is required from the water for building. Some waterways also have green belts around them where you can't do any work such as clearing brush, cutting trees, etc. within 50 foot of the water line.

That's all I've got right now. Good luck with it. We're actually looking at doing something similar for development purposes on a lake that is being built in our area.

Dragonlady8 · Black Widow Joined: 27 Aug 2004 Posts: 9198

I think if you PM lcap and ask him about that, he can give a world of advise.

oshensurfer · Posted: Jul 08, 2008 3:57 pm Post subject:

This is how I make my living. My concerns would be mainly the aforementioned for a residential home.

To recap and this may go a bit overboard, so sorry in advance...

I start with the availability of utilities: If they aren't available, how can they be acquired, if at all. Don't trust a seller, they typically will not warrant any statements they make and you'll be stuck.
Wells are tricky and often times have rules that can be "gotchas". Things like minimum acreages before you have the ability to drill one, entities or municipalities that have acquired the water rights, etc.
Don't assume anything: I've seen people with fire hydrants in a Right of Way in the front of the property get screwed and not be able to get water to serve their project.

Any encumbrances, like deed restrictions, easements, environmental, etc?

Is the property in the City Limits, if so, what are the regulations that you'll have to abide by? Zoning? Time for approvals and permits....

If not and it's in the County jurisdiction, then what are their requirements.

I would be concerned with flood zone and where the 100 year mark is. Insurance is a bitch if you're below it.

Dock structures would be a concern if you are wanting to buy the property to keep your boat. How long are approvals/permits going to take specific to the improvements on the water, how much do those approvals cost including engineering, how big can you go and especially who the approvals come from.

Soils capacity for building a residence (ask Icap about this one).

Environmental rules applying to the property. (endangered species habitat, spills, contaminates, wetland, ability to clear the land for a house/cutting trees, archeological, etc.)

Taxes and rates.

If you decide you want to buy the property give yourself time to review the title and recorded docs affecting the property and an out in the contract if something is off (like water/mineral rights)

Good hunting.