One Acre Homes In Otsego
- One Acre Homes For Sale in Otsego MN, Buying a home with acreage may involve a few more steps to protect your interests than buying a home on a typical city lot. Here are a few things you will want to research when purchasing a home with acreage.
- A Survey or Plat Map. The seller should be able to provide a survey or plat of the property, so that you are clear about where the lot lines are. Ask the seller to have the corners marked. This is especially important if the home is not in a newer neighborhood, because often times multiple parcels were owned by the same person, and they may have built an outbuilding or driveway overlapping two separate parcels. This can become a problem in the future if there is not some type of agreement between property owners. If the seller cannot provide a survey, you might want to order one as a contingency before moving ahead with the purchase.
- Certificate of Compliance for the Septic System. A certificate of compliance for a septic is good for 2-3 years depending on the County. If the home does not have a current certificate, we recommend your offer have a contingency that requires that the seller provide a certificate of compliance. If the system is non-compliant, the seller will likely need to repair or replace the system. Some small acreage developments have a common system that is maintained by an association. This may still require certification.
- Well Water Test. Most lenders will require that the well water be tested before they will approve the loan. This is another contingency in the purchase agreement that you can ask the seller to take care of.
- Easements or Variances. Be aware of any easements or variances on the property. These should be recorded with the county and will show up in the title work.