Don’t Risk It—Land Requires More Than Just An "House Agent".
When it comes to purchasing vacant land or homes with land in the Pacific Northwest, many buyers mistakenly rely on traditional house agents. While these agents may do ok in residential property transactions, they often lack the specialized knowledge needed to navigate the complexities of land development. Here's why you should reconsider using a house agent for your land transaction.
Why "Feasibility or Permitting" Shouldn't Be a Dirty Word
When real estate agents lack a solid understanding of land density regulations, it can lead to missed opportunities and poor advice for buyers. Land density laws, which determine how many homes can be built on a specific property, are intricate and frequently evolving. Agents unfamiliar with these regulations may fail to see a property's full development potential or miss important upcoming zoning changes. This knowledge gap can cause buyers to overlook valuable opportunities to maximize their investment, potentially purchasing land without realizing its potential for higher-density development.
Real Examples of Disastrous Outcomes
When home agents handle land deals without the necessary expertise, it can lead to severe complications. For example, there have been cases where agents, unfamiliar with zoning laws, help client purchase properties using very ambiguous feasibilities based on public knowledge or worse, non-feasibility at all with the assumption that they could be easily developed, only for buyers to find out that environmental restrictions or outdated zoning made construction impossible.
In one instance, a buyer purchased a large plot of land, expecting to build multiple homes, but local density laws had changed, restricting development to a single house. This assumed oversight may have potentially cost the buyer significant time and money as they were forced to revise plans and reapply for permits.