Buying land in Sarasota (Cape Coral, Lehigh Acres: mineral rights, for sale, real estate)

[DianaRina]

My husband and I have finally decided to buy some land down in Florida to eventually build our dream home on. Our situation is that we live in NY and have never bought anything outside of this state and even then, that was 20 years ago. Can someone let us know the process. We were there a couple of weeks ago for a little over a month and tried calling some realtors to show us some land but it was odd. They didn't seem that interested in going with us. We were told, just drive by and let us know. Here in NY, if you tell a realtor you're interested in buying, they hound you incessantly. I wanted to ask questions about impact fees, approximate costs of septic, well, etc. but felt put off. We like the area off Fruitville Rd, east of I75, and would like to possible make a purchase (if still available) when we head back down in Jan.

Thanks,
Diana

[Sunshine Rules]

I think I can answer some of your questions. Buying vacant land in FL is, in many ways, more complicated than buying a home. That is because things like zoning ordinances, subsurface soil, wetlands, flood plains, endangered species habitats, right of ways, mineral rights, impact fees, high water tables, even availability of utilities can have a huge impact on whether a property is suitable to build a home on or not. Land owners can and often do sell land to buyers that is not currently "buildable."

The permitting process can be complex, site development costs can be expensive. Drilling new wells and installing septic systems can also be more complicated here in FL. Water quality can be a problem, water here often has a high mineral content.

Because of all of the above, many real estate agents shy away from buyers such as yourself. The potential for liabilities outweighs the potential commission they can earn.

You might try searching for vacant land on the public version of our local MLS at Florida Homes for Sale direct from MLS and contact the listing agent of those you are interested in. They may be able to provide some of the information you will require to determine whether a parcel will fit your needs or not.

[DianaRina]

Originally Posted by
You might try searching for vacant land on the public version of our local MLS at [url=http://www.myfloridahomesmls.com

Florida Homes for Sale direct from MLS[/url] and contact the listing agent of those you are interested in. They may be able to provide some of the information you will require to determine whether a parcel will fit your needs or not.

That actually is the website I've been using. Another thing is the real estate agent of one of the lots we are interested in, is also the owner. Does that complicate things or make it better?

Diana

[SoFLGal]

Originally Posted by DianaRina

That actually is the website I've been using. Another thing is the real estate agent of one of the lots we are interested in, is also the owner. Does that complicate things or make it better?

Diana

The Realtor just has to disclose that they are the owner. Obviously, they have a vested interest in getting the most money for themselves if they own it

[DianaRina]

Originally Posted by Sunshine Rules

I think I can answer some of your questions. Buying vacant land in FL is, in many ways, more complicated than buying a home. That is because things like zoning ordinances, subsurface soil, wetlands, flood plains, endangered species habitats, right of ways, mineral rights, impact fees, high water tables, even availability of utilities can have a huge impact on whether a property is suitable to build a home on or not. Land owners can and often do sell land to buyers that is not currently "buildable."

The permitting process can be complex, site development costs can be expensive. Drilling new wells and installing septic systems can also be more complicated here in FL. Water quality can be a problem, water here often has a high mineral content.

Sunshine, all the stuff you're mentioning above, is that my responsibility to find out, does the seller need to disclose, or should I hire a lawyer (not sure if it's mandatory in FL like it is here) and have them look into those matters?

Diana

[Sunshine Rules]

Originally Posted by DianaRina

That actually is the website I've been using. Another thing is the real estate agent of one of the lots we are interested in, is also the owner. Does that complicate things or make it better?

Diana

It depends on the agent. It's difficult for the agent to be objective when he/she is also the seller.

[photoman_6]

Once you find a lot you might be interested, definitely hire a lawyer to walk you through all the pitfalls, which could also include sinkholes.

[Sunshine Rules]

Originally Posted by DianaRina

Sunshine, all the stuff you're mentioning above, is that my responsibility to find out, does the seller need to disclose, or should I hire a lawyer (not sure if it's mandatory in FL like it is here) and have them look into those matters?

Diana

If the seller knows information about the property that can impact the value, such as half the property is wetlands and therefore protected from any sort of development, then the seller has an obligation to disclose that sort of information.

As to the other items about suitability for building, that would be on you the buyer to find out, or you with the help of your buyer's agent. The sources for the various information vary, it would be expensive to pay an attorney to research much of the info for you. Here's a list of some of the people you would need to consult about whether you can build and the costs associated to home on a parcel of vacant land -- county zoning & building departments, engineering company, well driller, septic tank company, electric company, find a home builder willing to take on the project, etc.

Most FL vacant land contracts will include the option for the buyer to have a feasibility study time period in which the buyer can do any and all environmental assessments, investigations, tests, verify zoning/permits/road access, utilities, well, septic systems, etc. At the end of that time period the buyer either agrees to go forward and close or cancels the contract. A buyer can spend a lot of time, money and effort on a piece of property only to find out it's not suitable for your purposes.

Here's another catch 22 about vacant land seller who is also the listing agent -- if you sign a purchase contract through the listing agent/owner, as an agent he/she would normally help you research the information you require to make a decision about feasibility of the property BUT as the owner, it may not be in his/her best interests to do that research if he/she then discovers some information about the property that may lesson it's value to other potential buyers.



As I mentioned previously, vacant land sales when it's for building purposes can get very complicated here in Florida.

[mr&mrssunshine]

As a builder we offer potential clients a free land appraisal. we look at elevations, clearing needed, power, utilities ...any possible pitfalls...........something any self respecting builder Should do but sadly few actually do.....

unfortunately we don't cover your area

[d4g4m]

Beware when looking at lots in North Port. Many lots were bought during the boom and many of them are now for sale and many of them are on craigslist. If the lots are in sections 46 or 47, don't waste your time. There is no and won't be any electric in those sections for the foreseeable future. In other sections, look at an aerial view, if there are no homes near the lot, there is no electric. If there is a home nearby, you'll have to visit the FPL office at Toledo/Price to find out if they will run electric for free [up to their allowable footage], otherwise you pay and it will cost more than you paid for the lot.
If you buy a lot in a 'sparely developed' area, no problem with electric, but most of the time, well/septic.
Above also applies to 'Charlotte' lots, Cape Coral and Lehigh Acres