If I am attempting to purchase an empty lot of land from another party what legal paperwork must we complete?

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If I am attempting to purchase an empty lot of land from another party what legal paperwork must we complete?

Asked on June 27, 2012 under Real Estate Law, Iowa

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you wish to purchase a vacant parcel of land from another party you should first consult with a real estate attorney about issues concerning it such as value, zoning, lot split application and the like.

You will also need a written purchase contract signed and dated by the seller and you setting forth the terms of the transaction. You should also order a preliminary title report to see what liens are on the property you are buying as well as any owed property taxes and easement.

You should also get title insurance for the transaction as well.


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