Kansas Land Buying Pitfalls to Steer Clear of
Whether you’re looking for an idyllic piece of land to call home, or you’re an investor seeking the potential gains of land investments in this diverse state, knowing the kansas land buying pitfalls to steer clear of will help ensure you don’t fall victim to unscrupulous sellers or costly property missteps. Taking the time to leverage surveys, inspections and appraisals along with thorough due diligence will help you avoid unwanted surprises when closing on a real estate purchase in Kansas.
Providing false or misleading disclosures can have severe consequences for sellers in kansas. From lost trust with buyers to legal ramifications, dishonesty in land sales can lead to significant financial penalties for the seller.
Kansas Land Buying: Common Pitfalls to Avoid
A mineral rights certification completed during your due diligence will help you understand the current status of any existing mining leases or ownership transfers that may impact future utilization of your new Kansas land investment. You’ll also get a better idea of any restrictions tied to your property regarding drilling activities going forward.
While a rambling creek or pond adds to your property’s postcard-worthy charm, water features bring flooding risks as well. Be sure to have an elevation certificate completed before finalizing any land sale to determine if the property falls into the low risk or high risk flood zone classifications.
With distinct seasons and a wide variety of recreational opportunities, owning land in kansas offers many benefits. It also opens up the possibility of becoming your own farmer, with the ability to grow and market your own crops or raise livestock on a small scale. And for savvy investors, kansas farmland offers the opportunity to earn income from crop or mineral leasing plus tax advantages from appreciation compounding over years of holding your land assets.
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