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macvirtualasst

Land with challenges, need opinions please

macvirtualasst
9 years ago

Hi All,

I have come across some land in a very, very hot and high growth area that is very cheap. The reasons are two fold, both of which I know about upfront: the parcel is landlocked, and there are 3 streams running through it in an area that is prone to flooding. The landlock issue is not that difficult to deal with, the neighbor has verbally ok'd an easement so it just needs to be recorded. It's the water issue that I need your opinions on. It's a 5 hour drive to this property and I wanted to have some type of professional look at it before we spend the hundreds in gas to drive to see it. However, I am stumped as to what type of professional? I need someone who can objectively tell me if the problems can be overcome, someone who knows local building codes, and someone who approximately knows what the costs would be to get a house seat and building permit/septic in place, since the costs would invariably be higher due to the red flag issues. Is it a soil scientist I want, a surveyor, a hydrologist or an appraiser, or someone else? I am willing to put a few hundred into finding out but I don't want to spend too much, since there is a likelihood that it won't work out. However, if we could manage to affordably work out these issues, the land could really develop into something quite valuable. We are interested in it primarily as an investment, but if that were not to work out, we would move there and build a house. Thanks so much everyone.

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