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Land ownership comes with legal obligations which can change quite a lot depending on where you are buying land. Before you purchase anything, consider the legal implications, including propertytaxes, zoning laws, environmental regulations, and permits required for your intended use. What are the local regulations?
Consequently, they are not likely to disclose any negative information about their property that they do not legally have to disclose. So, while it may be true that the property value is diminished in the eyes of the homeowner, it’s probably not in the eyes of most buyers.
As such, some investors that purchase Ohio property for sale for the purpose of flipping consider offering a land contract for their realproperty. Tax advantages. Buyers can claim propertytaxes, the value of improvement projects (i.e., Maintenance and tax liability lifted. No legal title.
Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that when appraising a realproperty, an appraiser must: (a) reconcile the quality and quantity of data available and analyzed within the approaches used; and. (b) Estate/trust appraisal liability advice from Peter Christensen. Excerpts: 2.
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