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This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. In this test, youll examine zoning and building codes, variances, deed restrictions, building covenants, and easements to assess a range of legal uses for the subject property.
Welcome to the wonderful world of easements. In our example, if Sandy refuses to let Mark pass through, legal intervention may eventually be necessary to enforce his easement - Mark's right to use someone else's land in order to access his own. ” A person who has an easement does not actually own the land.
New Construction Premiums: Most builders will charge a great deal more for larger lots, but in the long run, the resale market might not want to pay that same premium. If that added lot space is not usable due to zoning, easements, vernal pools or other issues, the lot is not going to hold much value.
If not, obtain one, specifically covering boundaries to learn if easements or encroachments exist.). Is there a maintenance easement, such as with waterfront properties, that could affect existing or proposed structures? (For Some questions to answer: Do you have a current survey of the property? (If Are there any deed restrictions?
Whether you are a first-time home buyer or you're buying again, you will want to know how Due Diligence and Earnest Money impact you as a buyer or seller in North Carolina The following article is going to be regarding Due Diligence, Due DIligence fees, and Earnest Money in North Carolina Real Estate.
“I have a background in construction and have been a business owner in the construction industry.” ” “I have a life long time in agriculture and worked at a title company, giving me a good understanding of legal descriptions and easements.” I am doing all I can to cover all requests asap.”
Unusual site (size, shape, terrain, setbacks, easements, deed restrictions, etc.). An abandoned, partially finished new construction in a remote wooded area, that four appraisers had backed out on because of the large number of rattlesnakes on the property. One-of-a-kind properties (no comps). Non-conforming or illegal use.
Floor Space Index or FSI (Amount of Construction Allowed on the Land). Possible Title Issues (Easements, Foreclosure). Test Soil Before, During, and After Construction (via a Soil Engineer). Related Article: Find out why you should buy land for sale in Ohio in 2022. Property Lines. Zoning Requirements. Title Deed.
In 2007, he started appraising conservation easements, which are specified areas of land earmarked for environmental conservation. Owners with conservation easements can claim an income tax deduction. Conservation easement appraisals are a definite risk for appraisers. They are not easy to do. We all know this is true.
Read this article on how to check CO detectors. My comments : Read this article, especially how to identify and check CO detectors. I used Hypothetical Assumptions for new construction, of course. =. If this article helped you understand the issues in appraising vacant land, it is worth the subscription price!
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