If you want to invest your money then land is the most preferred form of property where you can invest. Land property do not need much maintenance and chances of its appreciation is quite high. However, in order to get better returns from your investment you need to ensure few things before the purchase. Otherwise it may become a bad decision for you.
Let us say you are trying to buy land in Colorado. This state in the USA has the most wonderful southern Rocky Mountains and the north-eastern section of the Colorado Plateau, answers your question, what to look for when buying land in CO.
Approval and license
For any kind of dealing with land property the paper works are very important. Hence you need to check whether the following documents are in order.
In order to get undisputed ownership of any land, you must check its title deed. Make sure that the property deed is fully undisputed whether it is residential, commercial or agricultural land. If you find the deed is questionable for transfer then it must be addressed well in advance. You may have to consult the lawyer about the title deed to make sure everything is in order.
You need to make sure that if any loan was taken for the purchase of the land has been cleared and release certificate has been given by the bank.
This certificate will make sure that the land is not tied up with any kind of legal debt and free from any kind of encumbrance.
Property tax receipts
It is important to ensure all the necessary taxes have been paid by the previous owner of the land and therefore it necessary to check all the receipts are available.
Make sure that local authorities have given necessary clearance.
Look at the bigger picture
While buying any land or property, it is necessary to check the future prospects of the land so that you can get better capital gain in near future. You need to do little research about it and check the location and how far it is away from main city etc.
What are other potential of the land
Besides looking at the future prospects and all other things you need to check the condition of the land. Is it in right condition where you can plan to construct a villa or big house? Is there proper water source available? What is the level of the land? Etc.