When buying land, whether for building right away or in the future, you want to do your homework. After all, not only is this a big investment, it could also become a disaster. For instance, what would happen if you found a track of land but failed to do any of the research, only to build, and then discover there was an underground spring. Unfortunately, problems such as this are relatively common. Therefore, it is to your advantage to do some research first.
For starters, boundary surveys are always important. In this case, if you were uncertain about the size or acreage of the land but were considering offering money, then you need to know exactly the boundary so you price things right. The same is true for road maintenance agreement in that if your piece of property has to be accessed via a private road, you want to know who all has access along with you, if anyone.
Other issues with buying land have to do with environmental issues and contingencies. For the environment, you should always request a signed statement that discloses everything about buried items on the property. This would include things such as gas storage tanks, oil lines, and so on. The reason this is so important is that if you were to have to do any removal or cleanup, you can expect to pay out big bucks.
For contingencies, you want to check prior to buying that that the property you are interested in can actually be used for its intended purpose. As an example, if you were going to build a new home that ran off a septic system but the land did not have one, you would need to make sure the sale would be contingent of one being installed. Additionally, in some areas, an architectural review committee would have to give the final nod of approval. In this case, the contingency falls back on someone else.
In other words, take time to list every possible scenario and then do a lot of investigation before you make your final decision. After all, this adventure should be fun and exciting, giving you the opportunity to enjoy your dream house. By researching upfront, you will save yourself a tremendous amount of heartache and possibly money.