Real Estate Matters 10.6.2020

PRESQUE ISLE, Maine (WAGM) -Homesteading dreams can quickly turn to nightmares if you discover you can’t build your dream home on the land you love—and now own. That’s why its important to do due diligence. Shawn Cunningham has part two looking at that in depth issue.

Finding the perfect piece of land to build your dream home can be exciting. But the bubble can easily be burst if you don’t do DUE DILIGENCE say local realtors. Stephanie Fields of Fields Realty LLC says one of the first things people should do is find out if the property has an installed septic system. If not she says its imperative to do a soil test. She explains the importance of the findings of that....

Stephanie Fields Realtor, Fields Realty LLC.

“can the soil absorb the water how fast or how slow can it go and if the soil test fails then the vast majority of the county will not allow a home to built on that property.”

Shawn Cunningham NO STANDUP

She says that’s one of many benefits of doing due diligence...But overall it puts several safeguards in place...

“if I can do what i wanna do and I find out how I can do what I want to do during that due diligence period and if you can’t do that then you have that right to step away from the contract or try to renegotiate with the seller to see if something can work out.”

Another important issue to find out...

“road access you certainly don’t wanna buy something to find out that there may be an easement an with easements back to flooding are you dealing in an area a zoning with a flood issue.”

Finally she touts the importance of learning about community ordinances...

“some towns some small municipalities do not have ordinances some do when you’re in an unorganized township you’re dealing with the land use planning commission and if you’re dealing with building on a lake or buy a parcel of land by a lake you definitely want to make sure that you’re dealing with LUC or code enforcement officer of that area you need to know you need to get help to make sure what you’re doing you don’t want to build something and have the LUC say you’re in violation you have to tear down that deck or tear down that building because you’re in violation.”

Most of the time things can be overcome and you move on with the sale. But its always important to do due diligence. Shawn Cunningham, NS 8.

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