Buying Land for Development


Buying land property for developmental purposes is a harder job than it sounds. This is especially if you’re buying it for someone else.  But we can’t really blame clients if they really wish to have a land area in this radiant city of Denver. Perhaps they want to bring their businesses to the benevolent people of the city and expand their services there. Well for whatever reason it may be, the steps listed below will be a great aid to the process.

Get full contact details on the client. This is the very first step that anyone should never forget. Getting the client’s full contact details will enable smooth flow of news and update between the parties. Make sure to take note of their name, phone number, e-mail address and any other contact details that could belong to the client just so he is unreachable via the main lines. The contact details of anyone who is working closely with the client such as an assistant or a secretary would greatly help as well.

Identify the client search parameters. What is it that the client is looking for exactly? Surely he’s not just looking for any “land area” or else he wouldn’t be needing help, right? Determine the contributing geographical factors and start your search there.

  • Location. Where does he want the land area to be? Is it near the city capital? Or is it in an isolated neighborhood? This will most likely be explained by the client before you even ask but don’t be afraid to ask for a specific point or location if he has one in mind.
  • Pricing range. This is an important factor and usually, if the budget is tight, the client will let you know about the maximum price range almost immediately. There are also clients who rarely care about the costs. But most like to get the most of their money and have other matters to spend on asides from the land property.
  • Acreage. This refers to the size of the land that the client is asking for. One great idea to look at this is if the client informs you of what he plans to do with the prospective property. Will it be for a mall, perhaps a condominium building or a commercial space for lease? If the client doesn’t tell you what he plans to do with the area, then that’s fine as well; as long as you know how much land you need to look for.
  • Zoning. This refers to the dissected or different parts of the total land area. The client can request for multiple land areas with separate measurements or a total acreage that can be divided into several zones. His future plans with the property will greatly determine the possibility of considering zones.
  • Demographics. Almost 70% of large amounts of land that are purchased are for business purposes while the rest are for agriculture and infrastructure. And what makes business effective is its accessibility to people. Determining or at least getting a rough estimate of the surrounding population is vital information as this would be the basis for the initial customers who would potentially patronize the business.
  • Traffic counts. The closer the land area is to the highway, the higher its cost could be; and it’s no secret why. Traffic count refers to the estimated amount of vehicle and pedestrians that pave on the target road. This contributes to the accessibility of the property and whatever purpose it was bought for.
  • Set Up the Alert in Costar. By doing so, the management of the project becomes much easier or both parties. It is also easier to take care of other financial obligations associated with the property. These can include but are not limited to insurance, security deposits as well as other critical due dates and requirements.Review the properties to ensure a proper match. It’s now time to use the criteria stated earlier as a guide. The key here is to look for not what you think is a good choice. But rather, it’s best to stick to what the client had asked for and apply his criteria to each of the properties available.
  • Check with listor for availability. Once a particular land property is close to the criteria provided by the client; it’s best to contact the listor first. Chances are there could be a risk that the property is no longer available and you could have already presented it to the client. This would be an awful mistake that even a newbie in the business should know.
  • Check with city for zoning restrictions. Zoning is governed by the law and thereby needs to be strictly followed. This mainly refers to how the city lets businesses and industrial buildings occupy spaces and land areas. This should be strictly followed and therefore should be checked first.
  • Email property brochure to the buyer. Speak with the listor about a digital copy of the brochure. Though this is more convenient, it would still depend on the client if he would prefer an email or an actual hard copy of the brochure.
  • Close-up-map with Google Earth. Sending the client a copy of the address of the actual location on Google Maps will provide them with this. A close-up map will also let the client imagine his goal and his prospective property mix into one.
  • Vicinity Map with major HWYs on all sides. A vicinity map illustrates the area of the ideal property and everything that surrounds it. A good vicinity map indicates the nearest highways, roads, businesses, buildings and other vital elements that co-exist with the property.

Send the sold property comps to the buyer. Send a list of the similar properties in the area to the client.  A list of sold comps will educate the client about the current price range of the properties similar to the one he might be interested in.

  • Within a mile radius. This is the best distance for where to get the information. Location can affect land prices, therefore, its best to find sold property comps within a mile radius of the target property.
  • Identify the seller from County Property Records. Doing so ensures that the seller is legit and really means honest business. This will also reveal if the seller has been part of a hoax, has ever done a bogus transaction or has any kind of negative record.
  • Send the offer details to the buyer. After verifying that the seller is legit, you can now send the offer to your client. Make sure to list down all the necessary details to avoid misunderstanding and lack of information. Remember that your client is a busy man and he has other things to care of asides from securing a property in Denver. Amongst other important information are:
  1. The listor’s mailing address
  2. The seller’s entity from the secretary of state
  3. The Co-op
  4. The legal descriptions
  • Submit the offer to the listor. As the middleman, it’s now time to send the client’s offer to the listor. This happens most especially if the client feels like the property requires a bit of bargaining. This begins after the initial offers were first sent to him.
  • Send the counter to the buyer, if applicable. If the listor has not fully accepted the client’s offer, he will send a counter offer will go through your hands. Here, the listor can either adjust the offer or reject it.
  • Send the final updated offer to Listor. This is the final step of the bargaining process when the client has read the counter offer and is now sure of his answer. If he feels that the proposal is reasonable, the buying process can now continue.
  • Verify signatures. After confirming the positive news from both parties, arrange the necessary documents to prepare them for the signing. Have both parties sign the documents and verify that all signatures are legit and genuine.

And there you have it, the steps to buying land development in Denver made easy. But if you think you still need help looking for the target property or is having trouble selling one; contact Rajanikanth Maddhi at 720 5151051. He’s bound to give you all the help you’ll need.

Do you ever think about buying land property for development in Denver? What do you think would be the most profitable way to develop it?

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