1.26.21 – Top Ten Mistakes When Buying Land – The Legal Connection Show

We are going to cover the TOP ten mistakes when buying land:

Inadequate Due Diligence

Failing to Revise “form” TREC contracts – under TREC if a buyer defaults the seller can force the purchase and defining what default is

Failing to review and scrub title – review each title exception

Failing to obtain and review a title survey to the sovereign at the GLO

Accepting closing documents without a meaningful review

Failing to check the final title policy

Post Closing omissions – tax exemptions, roll backs

Ongoing ownership mistakes – utility companies pressuring you to sign the co-op standard form your neighbors are signing

Value enhancement opportunities

Not keeping current with laws

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