10. Your plan for the property. Perhaps it should be the first document on that list. Your plan is a short narrative statement that sets out your goals, a payment proposal for the property, and a projection of what you want to do with the property in the future. A real estate agent can be of great help in facilitating your land search. But you can also do it yourself. If you check the classified ads in the newspapers, you can often find landowners trying to sell their land independently. A journal or publication may highlight selected plots of land for those interested in buying farmland or hunting land. For the purchase of apartments or land with built building, the buyer must also review the construction plan/development plan approved by the local municipal authorities, as well as the permits granted by the government, statutory and regulatory authorities for the provision of infrastructure, water, sewer, electricity, environmental authorization, fire protection permits, etc. A property transfer document is the legal proof of the land transfer, it can be used if the history of the property is tracked in the land register.
The document must be completed in three copies: one copy in the land register, one copy for the buyer and the other for the seller. There are also many online platforms where you can access commercial real estate ads. Specialized locations for finding land include Land and Farm, LandWatch, and LandCentury. You can even find listings on general websites like Craigslist. It is necessary to ask the builder for copies of the NOCs of various departments, such as the Pollution Board, the Department of the Environment, the Wastewater Board and the Department of Traffic and Coordination, which constitute the „suspicion of disapproval“ or the first permit required for the construction of buildings. While it`s possible to buy a home or land without the help of a real estate agent or broker, it can be helpful to have someone by your side who specializes in working with vacant land. A real estate professional can hold your hand throughout the process and help minimize hiccups. If you`re against using an agent, it`s always wise to find a real estate lawyer who can address your legal concerns.
It is a firm legal principle that a person cannot convey a better title than what he has himself. As a first step, the buyer should exercise due diligence to verify the existence of the property with the seller, the nature of the title and its merchantability, as well as the seller`s ability to transfer clear and marketable title without charges. The documents, for a period of 30 years, if they are no longer (and if the documents are not available, for a period of at least 12 years), must be examined and the seller may be asked to provide the following documents / information: PoA stands for Power of Attorney and it is a legal instrument that gives another person the power to: act as the rightful owner, on behalf of the beneficial owner. When buying a property, be sure to review these documents to determine the rights of the PoA owner. One is obliged to register the property once the transaction is completed and the other fees paid to the builder. Without registration, you have no legal rights to the property, even if all fees are paid to the builder. If you and the seller have agreed that certain items of the seller`s personal property (farm equipment, crops, deforested wood, equipment, supplies) are part of the sale, ask the seller to make and date a list of those items. Make sure you and the seller have a clear understanding of what a device is – and that the devices serve as a mediator. 8.
Mortgage Documents. Get a blank set of mortgage documents – escrow deed, Pfandbrief – from the lender you`re thinking of using. Your local lawyer should also have copies of these documents; It can redact the details before giving them to you. Read and discuss these documents with your local lawyer. Don`t negotiate a mortgage without discussing these documents with your lawyer or CPA. A letter of offer is a document that expresses a buyer`s interest in buying a property. This is a one-page document that describes the terms of the contract for the person selling the land (seller) and the person who wants to buy the land (buyer). .