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Mehul Mehta
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  • Dubai, UAE
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Land Buying Idea

Mehul Mehta
  • Investor
  • Dubai, UAE
Posted May 2 2024, 13:38

Dear team

Looking to buy the 5861 N Ridge Rd W, Ashtabula, OH 44004

Which things to keep in mind while buying Land>

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Kristine Ann
  • Investor
  • WNY/CNY/Adirondacks, New York State
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Kristine Ann
  • Investor
  • WNY/CNY/Adirondacks, New York State
Replied May 10 2024, 07:38

Overall for land purchases, you'll want to make sure it's not wetlands and it's not landlocked. You can never alter or build on wetlands nor use the land for anything other than recreation.  If it's landlocked you may think you will eventually be able to get access through a friendly neighbor, but no, that's not ever the case.  

Other than that, there may or may not be a water main, sewer hookup, or electric at the site.  Might need a septic tank and leech field put in if you are building.  All those would be costs, if they are even possible and approved.  It's never guaranteed that the local government will approve anything done on the property.  Taxes are an issue as well.  Even undeveloped land will have annual property and school taxes.

I didn't look at that specific address, but overall those are some of the things to look out for

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Michael K Gallagher
  • Real Estate Agent
  • Columbus OH
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Michael K Gallagher
  • Real Estate Agent
  • Columbus OH
Replied May 10 2024, 07:50

Hey @Mehul Mehta Any particular reason you would like to purchase this property?  I'm licensed in OH and could help you acquire it.  In general Land purchases very much depend on the end goal and end use you have in mind, then once you have that defined there will be various DD items to complete depending on that use and your intent to develop, hold, or sell it. 

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Scott Schnabel
  • Real Estate Agent
  • Canton, OH
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Scott Schnabel
  • Real Estate Agent
  • Canton, OH
Replied May 13 2024, 07:23

Fairly large parcel.  Looks like the auction was on 5/1.  More than likely purchased by a developer.

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Bob Stevens
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  • Real Estate Consultant
  • Cleveland
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Bob Stevens
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  • Real Estate Consultant
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Replied May 13 2024, 12:30
Quote from @Mehul Mehta:

Dear team

Looking to buy the 5861 N Ridge Rd W, Ashtabula, OH 44004

Which things to keep in mind while buying Land>


 1ST OFF WHY? What are your plans with it ? 

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Mehul Mehta
  • Investor
  • Dubai, UAE
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Mehul Mehta
  • Investor
  • Dubai, UAE
Replied May 13 2024, 12:34

As it was in auction, wanted to buy it. But got to know that if oil is found then land can be taken away.

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Bob Stevens
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  • Cleveland
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Bob Stevens
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Replied May 13 2024, 13:20
Quote from @Mehul Mehta:

As it was in auction, wanted to buy it. But got to know that if oil is found then land can be taken away.


 WTH you talking about, ok this post it ridiculous.

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Mehul Mehta
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  • Dubai, UAE
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Mehul Mehta
  • Investor
  • Dubai, UAE
Replied May 14 2024, 00:26
Quote from @Kristine Ann:

Overall for land purchases, you'll want to make sure it's not wetlands and it's not landlocked. You can never alter or build on wetlands nor use the land for anything other than recreation.  If it's landlocked you may think you will eventually be able to get access through a friendly neighbor, but no, that's not ever the case.  

Other than that, there may or may not be a water main, sewer hookup, or electric at the site.  Might need a septic tank and leech field put in if you are building.  All those would be costs, if they are even possible and approved.  It's never guaranteed that the local government will approve anything done on the property.  Taxes are an issue as well.  Even undeveloped land will have annual property and school taxes.

I didn't look at that specific address, but overall those are some of the things to look out for


Thanks a lot for the guidance. Reserved the land but then now knowing what to do, gave away the option on 1st

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Mehul Mehta
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  • Dubai, UAE
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Mehul Mehta
  • Investor
  • Dubai, UAE
Replied May 14 2024, 00:27
Quote from @Bob Stevens:
Quote from @Mehul Mehta:

Dear team

Looking to buy the 5861 N Ridge Rd W, Ashtabula, OH 44004

Which things to keep in mind while buying Land>


 1ST OFF WHY? What are your plans with it ? 


As the parcel came in auction and price was reduced from 100K to around 50K

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Mehul Mehta
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  • Dubai, UAE
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Mehul Mehta
  • Investor
  • Dubai, UAE
Replied May 14 2024, 00:27
Quote from @Bob Stevens:
Quote from @Mehul Mehta:

As it was in auction, wanted to buy it. But got to know that if oil is found then land can be taken away.


 WTH you talking about, ok this post it ridiculous.

That is the reason looking for expert opinion before putting any money.

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Bob Stevens
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  • Cleveland
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Bob Stevens
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  • Real Estate Consultant
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Replied May 21 2024, 04:39
Quote from @Mehul Mehta:

Dear team

Looking to buy the 5861 N Ridge Rd W, Ashtabula, OH 44004

Which things to keep in mind while buying Land>


 WHY ? What are you going to do with it ?

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Vadim F.
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Vadim F.
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Replied May 21 2024, 08:40

What is the land zoned for? Is it landlocked? Are there restrictions for what you can do on it?