Prospective 20 Acre Deal in CO, where to begin?
I was doing some research and I came across an auction for a piece of land in a well developed community in Colorado.
If I win this bid, I’m looking to either wholesale the property or partner with a developer. The lot sits directly in the middle of a development, surrounded by other subdivisions and access to the existing infrastructure.
As I have little experience with either of those options listed above, I’m just looking to connect with someone who can help guide me. I’ve got a call with the agent tomorrow, and I have plenty of questions.
This is my shortlist:
1. What is the Zoning on the Property?
2. What is the Annual Tax Obligation (other holding costs)?
3. Supposedly public utilities are available (if I don’t develop the land, do I need to set them up if they’re not already established)?
4. Are there usage restrictions (the property is currently used for agricultural purposes)?
5. Do I need a perk test? I’m tracking that the property has access to the city sewer system.
6. Part of the property has wetlands on it, not sure how much...Is that a show stopper?
7. I won’t be able to put eyes on the property, but has anyone used WeGoLook or do you have a similar service you can recommend?
8. Once I determine the zoning, do I need to order a Phase I Environmental Report? How adverse does agricultural land impact rezoning?
Well it’s not all that short, but if I’m missing anything...please feel free to share!
- Mark
Did I miss anything?