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      04-30-2021, 12:26 PM   #89
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Personally, I would get it on your "to done" list ASAP.

I just reached out to a local SC insurance agent by email, asking for a recommendation for what type of insurance policy they can offer when a "vacant land" policy might not be applicable. I also asked what kind of coverage is used during the construction phase, be it self-funded or with a bank's construction loan.

I'm not expecting an answer before next Wednesday. Anyone who has visited the south knows that they live a much slower lifestyle down there than we're used to here in the northeast, so I have to be patient.....
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      04-30-2021, 02:33 PM   #90
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Originally Posted by vreihen16 View Post
Personally, I would get it on your "to done" list ASAP.

I just reached out to a local SC insurance agent by email, asking for a recommendation for what type of insurance policy they can offer when a "vacant land" policy might not be applicable. I also asked what kind of coverage is used during the construction phase, be it self-funded or with a bank's construction loan.

I'm not expecting an answer before next Wednesday. Anyone who has visited the south knows that they live a much slower lifestyle down there than we're used to here in the northeast, so I have to be patient.....
Wonder if my umbrella policy would cover me?

Anyway, no time this weekend to ad the policy. Too busy building a structure on the property. LOL. Got some trees to cut down so I'm building a firewood seasoning shelter.
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      05-05-2021, 03:00 PM   #91
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We are well into the "due diligence" part of the pre-closing stuff on our 5-acre lot. In case anyone else is considering buying land, here is a cut/paste from the purchase contract boilerplate that our real estate agent uses:

Quote:
Conduct at Buyer's sole expense whatever due diligence, inspections, examinations, surveys and testing, if any, Buyer deems appropriate to evaluate the suitability of Property for Buyers intended use, including, but not limited to, zoning, governmental regulations, environmental concerns, availability of utilities and whether the soil on Property will support a septic system of a size and type of desired Buyer (hereinafter collectively referred to as "Buyer's Due Diligence").
In our case, the seller provided a recent survey and approved state septic permit for an over-sized system. The zoning is good, there are no building moratoriums, and there is even a partial driveway cut in. There's municipal water and gigabit fiber at the curb, and the lot has never been denied a building permit. (All verified before we made our offer.) The paperwork for a grading/clearing permit is simple, as long as the disturbed area is less than one acre. All (but the water/fiber being in the ground) are benefits of buying in a rural, unincorporated part of the county.

The last piece of the utility puzzle that I didn't know was who the electric company is. Believe it or not, there are four different power companies operating in that zip code! Last night, I went through all four companies' online outage maps after some severe thunderstorms apparently rolled through and knocked out power. The power was out on the entire street on one company's outage site, so I figured that they were the one. Called and spoke with one of their line engineers this morning, and he actually had to pull their circuit maps to check because the different companies criss-cross in that area. Long story short, they can provide a 200A service and are fine with an underground handoff at the curb if we are trenching for other utilities.

With any kind of luck, we'll be closing in four weeks or so.....
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      05-05-2021, 09:50 PM   #92
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I build homes and it seems you're off to an expensive start. Hiring an arborist? Seriously? Does the city require that?
Turboawd, you said you build homes. I just wanted to reach out and see if you'd be interested in utilizing my 3D design services. My number is (559) 304-5258 and email is amparandesign@gmail.com

You can also find me @amparan_decor on Instagram.

Here's some of my work.
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      05-05-2021, 10:16 PM   #93
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Quote:
Originally Posted by vreihen16 View Post
We are well into the "due diligence" part of the pre-closing stuff on our 5-acre lot. In case anyone else is considering buying land, here is a cut/paste from the purchase contract boilerplate that our real estate agent uses:



In our case, the seller provided a recent survey and approved state septic permit for an over-sized system. The zoning is good, there are no building moratoriums, and there is even a partial driveway cut in. There's municipal water and gigabit fiber at the curb, and the lot has never been denied a building permit. (All verified before we made our offer.) The paperwork for a grading/clearing permit is simple, as long as the disturbed area is less than one acre. All (but the water/fiber being in the ground) are benefits of buying in a rural, unincorporated part of the county.

The last piece of the utility puzzle that I didn't know was who the electric company is. Believe it or not, there are four different power companies operating in that zip code! Last night, I went through all four companies' online outage maps after some severe thunderstorms apparently rolled through and knocked out power. The power was out on the entire street on one company's outage site, so I figured that they were the one. Called and spoke with one of their line engineers this morning, and he actually had to pull their circuit maps to check because the different companies criss-cross in that area. Long story short, they can provide a 200A service and are fine with an underground handoff at the curb if we are trenching for other utilities.

With any kind of luck, we'll be closing in four weeks or so.....
Congrats! 4 week feasibility period? You guys are aggressive. We went 45 and used every last day of it.
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      05-06-2021, 06:41 AM   #94
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Congrats! 4 week feasibility period? You guys are aggressive. We went 45 and used every last day of it.
I did my homework *before* making the offer.....
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      05-06-2021, 08:41 AM   #95
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I did my homework *before* making the offer.....
Good on ya. I guess you have that luxury in a lot of markets. I forget that Seattle is a microcosm of stupid people making stupid decisions with their stupid amounts of money. Vacant buildable land goes fast around here. We lost our property to a developer who swooped in and made an offer without even seeing the property! We went to look at it for the first time on a Saturday, thought about it on Sunday, and started working on the offer on Monday. Before we could send the offer on Monday the developer made an offer and had it accepted. Our agent was smart enough to advise us to put in a back-up offer and give her the authority to move the deal forward on a moments notice without needing our input. When the developer dropped out a week later, our offer was immediately put into effect. We did a but of due diligence during that week but so much of what we needed to do required input from the city and quotes from builders that it took the full 45 days. The city requires all regulatory inquiries in writing, a $300 fee, then 4 to 5 weeks to respond.

Try getting a contractor, arborist, architect, and excavation company out to a property in the middle of a COVID lockdown to put a plan together for the city to review in "4 to 5 weeks" all in 45 days.
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      Today, 03:48 AM   #96
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Been watching the US Buying and Selling with Drew and Jonathan who have been giving us great ideas of how to prepare our house for eventual sale.
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