What You Should Know When Buying Land

So you're thinking about buying land? Great! Before you proceed, make sure you get the answers you need to make an informed decision. To help you, we've put together some of the most important questions to ask before making a land purchase.

Is the land surveyed?

With surveyed land you'll have greater assurance that the acreage is exactly what you expected and that boundary lines are properly displayed on the survey map. Without a survey, you can only estimate acreage and boundary lines. All Northern Acres land has current, staked surveys.

Is financing available?

Financing on unimproved land can be difficult to find, especially on out-of-state property. It's not unusual for banks to require as much as a 50 percent down payment of the total purchase price. We offer up to 90 percent owner financing on most land purchases to qualified applicants. Our current rates are as low as 5.95%.

Does the property have a clear title?

The title should be free of "liens, easements and encumbrances." Look for property on which clear title is guaranteed with a warranty deed. A warranty deed is included with all land sold by Northern Acres.

What are the current property taxes?

Taxes usually relate to services provided by the town, as well as the tax structure of the state. It's important to know the tax amount in determining what will be the carrying cost of the land. We can assist you with property tax information.

What services are offered?

You'll want to know what services are offered by local government and public utilities to be sure your use requirements are met. Northern Acres can help you determine what services are available at each of our properties.

What are the zoning and/or deed restrictions?

Each state, county, and town follows different regulations regarding subdivision and zoning. It's very important to find out what uses are allowed and if they will meet your requirements for the land before you make a purchase. Our land specialists are familiar with zoning laws and can help you determine if a parcel will meet your individual needs.

Is title insurance available?

Title insurance is a guarantee that the insurance company will attempt to correct any title dispute. If the insurance company is unable to resolve a title dispute issue, they will assume responsibility for any outstanding costs. All Northern Acres properties are available with title insurance for an additional fee.

What is Current Use?

Current Use provides a property tax incentive for land owners who keep their property in its undeveloped state. For more detailed information visit SPACE, New Hampshire's Current Use Coalition. The state of Maine offers a similar tax incentive on large acreage properties; they refer to this as "tree growth". You may also contact one of our knowledgeable land specialists to learn more.

There is a lot to consider when buying land, but armed with the right information you can make an informed decision. Contact us if you have any additional inquiries. We'd be happy to help.