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#1
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Buying undeveloped land for private businessI am currently looking for 10+ acres of mostly undeveloped land (sewer & electric accessible) for a recreational facilty and campground in the Southern Tier of New York State. I will also be living on this land in the future. My question is all of the basic questions. Where do I start? I have been reading and trying to figure it all out, but I still have no idea. Will this land be concidered commercial, private or non-residential? If I will be living their is it private business? Should I get a realtor first or get a loan first? Will I need a lawyer? What do I need to know about zoning laws? So far, the only thing I do know is that I will be placing 8 cabins and a pond on this land. Part of it I would like to keep as a wildlife sanctuary and some retail will also be in the future. I would like information on how to go about all of this. Thanks for any info out there! |
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#2
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| Q: Where do I start? A: Get a survey and a title insurance policy on the place. Q: Will this land be concidered commercial, private or non-residential? A: For that answer, you need to talk to the zoning authorities. Q: If I will be living their is it private business? A: If you conduct a business, then there will be a business there. Best to talk to a tax CPA on this one. Q: Should I get a realtor first or get a loan first? A: I always suggest working with a real estate agent or a lawyer in land deals. Q: Will I need a lawyer? A: See answer above. Q: What do I need to know about zoning laws? A: See answer above. Q: Part of it I would like to keep as a wildlife sanctuary and some retail will also be in the future. A: You may want to ask the game and wildlife bureaucrats if they offer easements for such things. Some states will pay you to keep some of your land undeveloped.
__________________ There are two rules for success: (1) Never tell everything you know. |
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