Land in Colorado, is sold for cash and also financed. Check
http://myeranch.com under colorado properties for samples of the
different areas where ranchlots are located.
Below are answers to your questions.--
Q -- Can I build a house on this land? Is there a time limit as to when
I have to build?
A -- All the land offered on myeranch.com is Residential Ranchland
unless specifically noted as Commercial. You can build anytime or you do
not have to build at all.
Q-- I am interested in bidding on the 5 acres in colorado. How much is
the property tax?
A -- Taxes throughout the San Luis Valley are in the $70.00 range for 5
acres. The larger parcels 40 acres and more are taxed differently.
Q -- What are the closing costs?
A -- There are no closing costs to the buyer.
Q -- Is there a balloon payment with this financing?
A -- There is no balloon payment. There is no penalty for early payment
or paying more than the minimum every month. There is no fixed term
under the financing arrangement.
Q -- Is water by well? How far down? Water rights?
A -- Wells vary from 50 to 125 feet to hit sweet water depending on the
area. Water rights are included on parcels from 1 to 40 acres to take
water from an individual for household use. 40 acres usually comes
with water rights above and below ground. Water for agricultural
and farm use on any property may have to be purchased. There
advertisements for agricultural and farm water rights for sale
in the local papers.
Q -- Is land perked for septic?
A -- The sanition treatment installer handles that phase of the
installation since there are currently several options. Systems are priced
from $1000.00 on up.
Q -- I assume this property is free and clear and has been surveyed and
staked.
A -- The land is surveyed and staked as a subdivision or a registered
land parcel in order for it to be sold. When the land is fully paid for
the buyer will receive a Warranty Deed free of encumbrances.
Q -- Can I build on the land if I am on a land contract?
A -- You can build a home after obtaining the normal permits from the
County.
Q -- How close is the electric service and phone to the land?
A -- It is not know how close the electric is to any given property as
new construction is going on in all the subdivisions. (Many of the homes
in the Valley are powered by alternative energy. Solar, propane and wind
power are used extensively.) Some telephone service is available not in
conjunction with electric service since some phone cables are run
underground.
Q -- Is there access to my land by road?
A -- If the land is in an undeveloped subdivision the roads may not be
cut in but you can go to the land to plan for future construction. Roads
are scraped and maintained in any subdivision where there are homes and
registered lots. Some areas are serviced by County Roads accessible from
a nearby highway. Some intra subdivision roads may be maintained by the
Property Owners Association.
Q -- How much are property association dues?
A -- In Southern Colorado the dues run from $35 to 85$ annually
depending on the subdivision.
Q -- Are there maps of the property?
A -- In most cases the maps are posted on the bid site or on the
offering page of the website. http://myeranch.com
Q -- Are there restrictions on building?
A -- Some subdivisions such as Sangre de Cristo Estates require
pre-assembled or custom homes. The type of homes shown in the
photographs on the website will be a good indication of what type is
found where. There are the usual building setback and population density
rules to follow as are the environmental regulations for separation of
water wells from waste treatment facilities. Most areas will allow RV's
while you are building your home. Casual camping is permitted in some
subdivisions.
Please check the frequently asked questions and photos on our website
and our Landowner's contributions pages at http://myeranch.com for more answers.
