Buying land to build your own home can be an exciting and lucrative investment. However, it can also be complicated and risky without expert guidance. There are many different factors to consider when purchasing a plot of land for your new construction, from zoning laws to environmental regulations. To make sure your land-buying process goes smoothly and you avoid costly mistakes, it is best to work with a CA land buyer who can guide you through the transaction.
In the past few years, a private company has bought up large parcels of agricultural land in Solano County. Locals are wondering what the company has in mind for these vast tracts of rural property. Flannery Associates LLC has purchased more than 78 square miles of land in the area, which is 60 miles north of San Francisco. The company’s website indicates the company hopes to “create a new city” on these parcels. Flannery has been meeting with elected officials and representatives in the area, as well as sending out opinion polls to residents to gauge public support for the plan.
One mayor who spoke to KPIX said that he doesn’t believe the company has any plans for the land, but that they should disclose their intentions sooner rather than later. He added that the company has been secretive throughout the entire process, which is raising suspicions among residents. Flannery’s website also includes an FAQ page, but the answer to the most common question on that page is a vague statement saying the company has “initial plans” for the land.
Land purchases comprise only two percent of all real estate transactions in California, and most real estate agents don’t specialize in land deals. If you’re considering making a land purchase, be sure to work with an agent who is knowledgeable about land sales and can help you find new plots via Multiple Listing Service listings, real estate websites, auctions, or local resources. Your agent can also teach you about zoning and permits, and quarterback negotiations on your behalf.
In addition to land prices and the costs of developing the land, you’ll also have to factor in taxes like Mello-Roos fees, which are imposed by some California counties on residential properties to fund infrastructure improvements. Other costs to consider include septic systems, access roads, and utility installation. Then there are property insurances to cover natural disasters like earthquakes and floods.
Selling vacant land is a long process that involves marketing, showing the property, negotiating with potential buyers, and closing the deal. This can be time-consuming and frustrating, especially for individuals who are not familiar with real estate transactions. An alternative is to sell the land to a land buying company that specializes in acquiring parcels for investment purposes or development. These companies are experienced at evaluating properties accurately and closing deals quickly. They also typically have a high volume of land sales, which can expedite the process. Look for a reputable company with a history of selling land in your area to get the best possible price.