Buying & Renting Real Estate : Buying Vacant Land

Buying & Renting Real Estate : Buying Vacant Land


Hello, my name is Penny Smith. I’m a North
Carolina real estate broker with Live Oak Real Estate in Wilmington, North Carolina.
I’d like to talk to you today about buying vacant land. As a real estate professional,
I highly recommend that you have a real estate agent to help you to do any purchase of any
type of residential property of any sort. But when buying vacant land, you need special
type of contracts. These contracts is provided to the real estate agent by a committee as
well as by the North Carolina Real Estate Commission. The committee provides different
facets of the purchase of the vacant land. When buying vacant land, you need to be very
sure that you incorporate these documents, which will ensure that you have your rights
protected and your interest protected. You want to make sure that that property will
pass a perk test, for instance. Also, that it will…you’ll have knowledge of the flood
zone that that property is in. You also when, in North Carolina, have areas that have radon,
and you want to be protected by having a radon test. No one wants to build a house to find
out they cannot live in it because the radon levels are too high. You also don’t want to
buy a house that you have to pay for expensive flood insurance. So I highly recommend that
you use a real estate agent that can very much investigate all of these aspects for
you based on different places online, as well as the tax records and so forth, that will
give them the information for properly filling out these forms in your best interest. Thank
you, and I hope you have a good day.

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