Sarah Boyd Realty

Buying a Property

There are several variables you will want to consider when purchasing an acreage property. Including zoning, utilities, soil, accessibility, tax exemptions, and mineral rights. Your first step should be to decide what type of property fits your lifestyle. Is privacy important? Do you want a small lot or and acreage. Are you looking for a horse property? Next step is to make sure that is if the property has existing deed restrictions do they affect you plans? Deed restrictions in rural subdivisions can govern everything from the housing size and type, type of livestock and animals allowed per acre, fencing, and structural/ascetic components of any additional buildings. It is important to review the laws when buying a property with existing restrictions. The following thing to be addressed is what is or will be going on around the property and how it could affect your lifestyle and property value.

Once you have narrowed town what type of acreage property you would like the next decision is to consult a Realtor who specializes in the type of property you want, such as Sarah Boyd. The experience and service she offers will make your buying process seamless and enjoyable.

Be sure to take the time to talk with a few lenders who are qualified and committed to helping you though the buying process. They should have experience in financing the type of property you plan on purchasing. Not every lender has the resources to finance an acreage property, many mortgage companies only offer traditional loan programs for residential property. It is critical that you choose a financial institution, such as a bank or specialized mortgage broker, that offers rural or land programs. Please click on “Area Mortgage Companies, Lenders and Banks” for a list of area institutions.

Once you have found a property you like it is important to discuss additional expenses such as utilities. There are some country properties that lie just outside of town and may still have access to city utilities, but this is not always the case. The home will most likely have a septic system and may have a well.  You will want to find out the type, age of the septic as well as the location of the tanks and distribution fields. If the property has a well find out if it is private or shared. If shared you will want to get a copy of the shared well agreement. If there is no well find out if the property has city or cooperative well. If it is co-op, find out the company and talk to them about the quality , reliability and get a copy of the company membership agreement. You will want to have your well and septic system thoroughly inspected and tested by a qualified inspector. (Not all inspectors are qualified to inspect water wells and septic systems.)

You will want to find out if the property has any easements of flood plain. If possible, ask for a copy of the most recent survey. This will help you understand the layout of the property as well as show any easements or flood plain. You will want to find out the accessibility to the property, does it have road frontage or a private easement? You will want to get a copy of the recorded easement and find out if it is shared by any other property owners.

If high speed internet is important you’ll also want to check what wireless broadband provider and satellite TV service the area.

You also need to understand that Texas is a mineral state, meaning mineral rights are purchased and sold separately from the surface rights. When you purchase a property in Texas you need to know what if any mineral rights convey with the property. Although 100% of the mineral rights would be great, the probability of getting any is very small. Most properties mineral rights were sold off many years before. It is common nowadays for the mineral rights to belong to someone other than the surface owner. This is very important where in areas with mineral activity such as the Barnett Shale in western Denton (along and West of I-35) and Wise counties. There is not of new exploration in our area, but that could change, so be sure to check if you have any concerns.

If you are going to have horses, most people prefer sandy loam soil. Sandy loam soil provides perfect footing for horses and is also great for growing grasses in pastures. Generally in our area the sandy loam soil runs along Hwy 377 corridor, which runs through Argyle, Cross Roads, Aubrey, Pilot Point, Tioga, Collinsville, Whitesboro and Valley View, East of I-35.

Another very important piece of information you will want to find out is what type of tax exemptions are currently in-place on the property. Agricultural and wildlife exemptions can significantly reduce your property tax liability. Once you find out what tax exemptions the property has, contact the county appraisal district office and determine what you will need to do to maintain them once the property transfers into your name.

If you are purchasing raw land or an unimproved acreage and planning on building it is important to consult with a builder before purchasing the property. The builder will be able to tell you how much dirt work is required for the specific home site. This is an additional expense that many buyers overlook.

SarahBoydRealty.com, specializes in homes on an acre or more, horse properties, ranches and land and would love to help you.