Most Buyers Include A Study Period In A Contract For A Building Lot Or Land


Most Buyers Include A Study Period In A Contract For A Building Lot Or Land
By Scott Rogers • January 30, 2024
Getting ready to build your dream home? Exciting!!! Did you find the perfect building lot in a neighborhood? Or an ideal 2.5 acre lot in the County where you plan to build? Fantastic!!! You have two options at this point... [1] Continue to do lots of research and planning, and then if it all pans out, make an offer and try to negotiate a deal with the seller. [2] Make an offer with a study period. Most buyers seem to be more comfortable with the second option -- going ahead and making an offer, with a study period. This strategy allows you to make sure you can negotiate a deal with the seller that works for you from a price (and other terms) perspective -- before then spending a good bit of time, and possibly money, on confirming that the lot or land is suitable for your building plans. During your study period (often 30, 60, 90 days or longer - depending on the property type) you will likely... [1] Walk the building lot with your builder. [2] Research details of utility locations and/or availability. [3] Confirm any easements that would affect where you could build. [4] Research how much rock may exist and whether that will affect your building plans. [5] Get pricing from your builder for building your dream home now that you have a proposed site/location for it. These are just a few of the items we might research during the study period in your contract -- all pointing us to a greater understanding of whether your plans for building on the lot will work well for you. If you're ready to explore some land or building lots, be in touch! Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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