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I've been looking around for real estate the past few months. I found some great land in Canada for pretty cheap. It's like 1.5 acre lots which is plenty to build a house on, but they are listed at RV/Camping lots. What's with this? Can you still build a house on these lots? I need to learn some real estate terminology.
listing land as RV spots is the most simple way of saying the land is not restricted. atleast thats how it is in the US.
I always go to the register of deeds and have them run a check on the land b4 I buy.
Usually restrictions on land are like this
No mobiles stick built or modular homes only. Now I can honestly say I have never seen a restriction on land saying only RV's or mobiles are alowed and not allowing stick built homes.
Usually stick built homes can be built anywhere you want as most people who put restrictions on land are trying to keep from having a mobile home park put in after they sell.
One thing you might watch is .... Is there limits to size of home, Limit on # of homes allowed per lot. Whats the water situation, Right of ways ECT.
I resently bought a fairly large piece of land. Hidden in the restrictions was a clause that stated I could only have one mobile unit per lot.
Well I bought 7.89 acres however it was classified as 1 lot. I ended up having to hire a lawyer to get around the restriction.
Watch out for shared wells There a pain in the ass. Say you have 5 houses on 1 well. Everyone splits power say the well pump dies ... Everyone splits repair costs.
Ok say the well blows up and is going to cost 1000.00 repair Ok now everyone owes 200.00 for the repairs. so you and 2 other fam. pay your 200.00 so you have 600.00 the other 2 homes don't have 200.00 so if you want water you and the other homes must cover the costs in order to have water.
Now you have 2 houses not paying in order to cut them off it will cost legal costs during this time they are free loading and theres pretty much nothing you can do.
If you can't tell I've delt with this.. My answer was to up the cash and have my own well put in and drop off the shared well.
You may say Im a dreamer,
but Im not the only one,
I hope some day you'll join us,
And the world will live as one.
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