You found the perfect Central Oregon Lot, you have your REALTOR® write the offer and you are excited to know that someday your dream home will be located right there amongst the trees.
Wait one minute.... does this lot have any restrictions on where you can build? Many times you will find that there restrictions on where you can build. Some examples are wild life easements, solar easements and setbacks to mention just a few.
Recently I sold a lot that was perfect for my buyers, as the preliminary title report came in we found there were two different plat maps, showing 2 different building envelopes. This posed a huge problem, we had a contingency to protect the buyer - the buyer was to approve or disapprove of the building envelope.
The County had the CC&Rs on file but they also showed the preliminary plat map not the recorded plat map. The land had been surveyed, however the building envelope markers had been knocked down by snow. We could not approve the building envelope until the title company or the developer could produce the correct map and have the corners of the building envelope remarked.
As luck would have it, the building envelope on the final plat was exactly what the buyer and myself thought they were.
Buyer's before you write your offer to purchase Central Oregon Real Estate be it land or a home, be sure your agent knows how to protect you. You need to know exactly what you are buying... and what you can do with it.
With the Real Estate Market getting tighter and tighter, I am seeing agents step out of their "normal" areas and represent buyers and sellers in areas they know nothing about. Real Estate is LOCAL - use a Local agent - you will benefit in the end.
Thesa, this is good information. Just 'cause you can buy a piece of land doesn't mean you can always do with it as you plan .... you have to know all of the details.......great insight!!
Way to go Thesa, once again proving just how knowledgeable you are. I'm looking forward to it rubbing off!
We usually end up with surverys showing wetlands on portions of the property, or power lines over the spot where the house was planned to be. But the wetlands are the biggest problem.
Thesa, you are so thorough and I am sure that your clients are grateful to have you in their corner. I know I would be grateful!
Thesa--I have heard of people buying lots that don't perk for septic systems and therefore become unbuildable. Knowing what you are buying and doing due diligence research is very important on any lot.
Thanks for the reminder to not just file the pre-lim when it comes in, but to carefully examine it for anything of importance.
You're so right.