LAND BUYING: DO'S AND DON'TS

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Imagine, as you eagerly scan the classified real estate listings, suddenly spotting an ad that reads like the answer to your dream: "Forty acres, year-round creek, part wooded, part cleared, some marketable timber, south-facing slopes, $26,000, low down, low monthly payments." In such a case, it'd be quite natural to assume you'd found the buy of the decade.

So let's say you decide to take a look at the place profiled in that advertisement . . . and it turns out to be even better than you'd dreamed. Huge trees tower overhead, like a great green cathedral. You follow the creek downstream to find that it opens into a gorgeous meadow. Your heart is taken, and you're already starting to plan where you'll put the house and barn. This is the place, your emotions are shouting, and—better yet—the price is right!

At this point, the owner or agent—seeing that you're sold on the parcel (after all, you've been too clanged excited to play "uninterested buyer" games)—asks you for either earnest money or a down payment. Well, you know the property is what you want, and you also figure that someone else is sure to buy it if you don't . . . so you prepare to shell out a big portion of your savings.

But wait . . . remember that any time you make a purchase—particularly as significant an acquisition as a piece of property—it's vital to keep in mind the motto, "Let the buyer beware." Before you put up cash that you may not be able to recover later, let's examine the pitfalls possible in buying any piece of real estate, especially undeveloped land.

DO YOU HAVE ACCESS?

It's impossible to overemphasize how terribly important access rights are. Be certain beyond the shadow of a doubt that permanent, legal, transferable access is specified in the deed. Never buy any piece of property without it.

I recently met a couple who'd bought a lovely place and built a house on it, acting on a neighbor's assurances that he had no objections to their using his road to get to their property. Later, though, they had a minor disagreement with that fellow, and he promptly blocked the road. At that point, they started walking in and out across a bordering piece of government land . . . but were soon informed by the agency in charge that they'd better cease and desist or they'd be hauled into court on trespassing charges.

Becoming frightened, the people tried several other routes, each of which was eventually blocked when at least one landowner wouldn't let them through. Because the unfortunate couple had no money left for an expensive legal battle, they were forced into abandoning the place, and they lost the cash they'd invested ... which amounted to all of their savings!

As you can see, then, it's imperative to make sure that no one can stop you from getting to your property. If it's possible to obtain access by paying for it annually, as is the case when dealing with some government agencies, make certain that the right will be transferable if you later decide to sell . . . and that it's not revocable. You'll also want to find out who's responsible for the maintenance of the road. Believe it or not, you could be both sued and fined as a result of nicks you might make with your snowplow or ruts created by your car or truck!

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