Imperial Valley press., 1930-09-02
INVESTIGATES,
THEN BUY A LOT
FOR YOUR HOME

There are many things you need to
know about a piece of property to
assist in determining whether it is a
desirable location on which to build
a home. These things ought to be
given careful consideration before
you invest your money.
Don't trust TO hearsay or specula.
tive judgment. Get the facts sur
rounding each piece of property you
look at If you are living in a city,
go TO realtor. A realtor usually
conducts his business according to
nationally accepted code of ethtics.
This code binds him to certain re-
quirements in his dealings. 1t as
sures YOU protection sound judg-
ment and the counsel you deserve.
Don't forget that people who have
property for sale are inclined to grow
optimistic about land values when
prospective buyers put in appear
ance. This does not mean that deal
ers in real estate are not honest. It
does mean. however, that dealers
with established regulations for fair,
honest transactions value their repu-
tations higher than their commits
zion. You are apt to get a wiser
and better deal from this kind Of
q man.
Generally speaking, it is safer &c,
purchase a lot in a locality well de-
veloped, or in a process of develop
ment. If property is increasing in
value each year, this indicates a
healthy condition and It may be a
good investment if it is not over
rated.
Investigate the Restrictions
First, it is well TO find out whether
You are expected 10 make improve
ments, or whether there are restric-
tions. Investigate about assessments
for new sidewalks, curbs, gradings.
roadways. Look into the possibility
of railroads, trolley lines and other
public utilities approaching the prop
erty.
Your proposed building lot may be
unimproved, no sewer, watermalns,
curbs or gas. If these are to be IN
stalled later on. it is well TO have an
estimate of the probable assessment
because eventually such items must
be included in the total cost Of your
lot.
Don't forget that if. after few
years, your lawn has grown into a
beautiful approach TO your home,
some corporation or public utility
wishes to make repairs that require
digging and excavation. it may prove
a matter of much annoyance and,
perhaps, detriment TO your property,
If they hold a priority right to do
such things. Therefore, investigate
before you buy.
Cost Of Lot Versus House
It is not advisable TO erect large
home where small dwellings domln-
ate, or is it sound business to build
an expensive home on a cheap lot.
Generally speaking, the cash value
of the lot should determine the ap-
proximate cost of the house. Usu-
ally it is between three and four
times the cost of the lot.
Don't overlook the value of trees,
Don't forget beneath every lot there
is a water line. Low property is apt
to give you trouble with dampness
and a wet cellar.
After the selection of the lot comes
the contract of sale. You agree to
nav the owner a certain percentage
Of the purchase price, usually 10 per
cent. This makes the contract bind
ing for a limited period, usually 30
days. during which time you should
have the title searched for flaws or
claims against the property. If the
title is clear. you can safely com
plete the sale. Don't forget to have
the deed recorded with the county
authorities. This officially estab-
fishes your ownership