Land makes an ideal investment to many investors. Given the capacity to put it to multiple uses, it is always in high demand. As a result, when they discover land for sale, investors take utmost care and every precaution to avoid falling victims to unscrupulous sellers. Not limited to selling non-existent properties, swindling extends to failing to disclose important issues that pertain to the piece of land.
If you’re not buying a piece of land in an established land estate such as westbrookestate.com.au, we recommend checking the following:
Know whether you have a public water supply or if you have the legal rights to use the water of any body of water that runs across your piece of land. Should the river be part of a city’s watershed, you would have no legal rights to make use of a single drop of water from it. Violating this could get you in legal trouble. A rule of thumb is to avoid buying on a watershed unless you have expressed a written permission that specifies your rights. Be sure that you can abide by every condition on the agreement.
Be clear on the rights and privileges you have on the neighbouring properties from the outset. If you have to depend on the goodwill of your new neighbours to allow power lines and other amenities through their properties, you are in for a rude surprise. Ideal properties make easements, allowing you to access crucial facilities such as power and sewer lines.
While a lush, fertile piece of land with many trees growing on it would be the ideal investment, it’s best to know about its timber rights. Otherwise, you would land in an incredible mess of not owning the trees on your property. As a result, you cannot clear or cut down any tree without permission. This scenario would interfere without your ability to make maximum use of land.
Failing to secure the necessary rights that relate to your property is enough to render your investment useless.