When you are purchasing acreage property, there may not seem to be any differences from buying other real estate properties. However, before you decide to pull the trigger, there are a few unique considerations to make. Central Texas Auction and Realty is here to share some tips and tricks to successfully purchasing acreage property at auction.
Consider Your Plans to Build a House and/or Other Needs for the Property
As you choose the perfect piece of land to purchase, you need to consider what your needs are for the property. You should know what is important to you as you find the spot that speaks to you. For instance, you may want to have a property with plenty of mature trees and other landscaping before purchasing. Some people may be concerned about the privacy that a piece of property has to offer. Another consideration you may want to make is the type of soil this property has. If you are planning on using it as a horse property, you will likely want to have sandy loam soil.
Accessibility to the Property
You want to be aware of how you are expected to access the property. You need to know if there is a road frontage or if you enter the property by way of an easement. Some properties share the easement with other property owners, and if this is the case, you need to know who is responsible for maintaining the road.
Water Sources & Rights
Where the water source comes from is a huge question you should be asking. Not only do you want to know where the water is coming from, but what the quality of the water is. If the water source is a well, you need to find out whether or not you share it with anybody else. If the well is shared, you need to look over that agreement.
Mineral Rights Ownership
You should know that Texas is a mineral state. Just because you are purchasing this piece of land, doesn’t mean you will be inheriting the mineral rights that come with it. This means that if you have oil or gas beneath your property, you don’t automatically have control over who can and cannot have access to it.
Buying & Selling Acreage Property at Auction in Belton, Waco, Killeen, Temple & Central Texas
If you are considering purchasing acreage property, a fantastic place to do so is at auction. At Central Texas Auction and Realty, we can help you find exactly what you are looking for. Whether you are buying or selling acreage property, we can help you maximize your profits. Call us today for more information on upcoming auctions near you.