New To Land, Old To Property
Well I have decided to take the plunge and buy 200 zoned R1 acres of land near my home. Or at least begin my due dilligence. I have locked the property up for 4 months.
The land boarders partially on a private lake and state wet lands. The other side boarders a main road with current residential homes. I believe there is 40% wetlands so this reduces the buildable land significantly.
Previous perk test reveal no problems here. What other areas must I concern myself with?
EPA
DEC
City
State: New York
Ceptics
Wells
Run Off
etc,etc
I have researched much, but would like to hear from the good people of the TCI site and their always great advise.
Thanks, Flyboy
If your objective is to flip the property to a builder or develop it yourself, there's a lot of data to be checked out.
For starters, have a phase 1 environmental audit done; site specific topo, boundary survey, get wetlands survey done, have your engineer prepare rough sketch plan showing prospective yield (after taking into account floodplain if any, wetlands, ordinance requirements, any restricted soils, etc.), after which you might want a soils person to do some specific testing of areas to get an idea of how many locations on the property would support on-site systems. Bottom line: you'll want to get a good idea of how many lots, approximate cost of site improvements, what the new homes would sell for. Depending on how fast this due diligence can be done and the time of year, you might have to extend your feasibility period contingency.
Thanks Nancy.
Some of the criteria you mention has already been performed. Sorry I can not be more specific right now as my attorney has the perk test and a field map site with lots already depicted. I should be receiving these back shortly and will be able to post what exactly I do have at this time.
I do appreciate you taking the time to respond.