With the help of experienced brokers, land sales are easier, faster and simpler
Land purchase and sale transactions are not a rare occurrence in the daily activities of the 1Partner.lt team. In order to sell a land plot belonging to him, a person must take care of neat documentation and perform certain steps before the sale of the plot can be formalized at the notary's office. However, not everyone has the time for this and not everyone knows what to do to ensure that the land sale goes smoothly. In such cases, it is best to contact intermediaries who are well versed in all the essential requirements of land purchase and sale transactions.
How does a land sale work?
When land is bought or sold, the parties must enter into a notarised sale and purchase agreement in accordance with the applicable legal requirements.
If buildings, structures, installations, plantings or other objects are located on the land being sold, the agreement should also address the ownership rights to those objects.
When selling an apartment or other premises in an apartment building, the corresponding ownership rights to the part of the land required for the use of the property should also be taken into account.
What should you consider when buying land?
The first step is to review the available documentation and planning conditions. These may include:
- the general development plan;
- a detailed plan, where applicable;
- permitted development parameters;
- special land-use conditions;
- easements and other restrictions;
- cadastral measurements;
- access to utility networks and infrastructure.
An experienced real estate agent can help review the documentation and coordinate the transaction process.