Posted on: 1 July 2019
Surprisingly, if you still want to invest in real estate in the U.S., there is plenty of acreage available. You could buy entire hectares of land, split it up, and sell it off in chunks for huge profits. There is just one major issue you may encounter: creating plots. This is not an easy thing, as you might think. The boundaries of the land you purchased have to be marked off, for starters, and then the land has to be surveyed by ALTA (American Land Title Association), which determines where best to draw boundaries to create plots. Here are some of the typical complications that ALTA surveys resolve.
How Big to Make the Plots
One hectare is approximately 2.47 acres of land. Since most residential properties are commonly the size of a quarter acre or less, the surveyor would look at defining features of the land you have and figure out how to split your acreage up into much smaller plots that are not too oddly shaped or have unique features over which neighbors might fight. When you have ten or more hectares or more than twenty-five acres, there is a lot of land to survey, and a lot of ways to break it up.
How to Coordinate the Placing of Boundaries with City Planning in Mind
Land surveyors are not just splitting up huge plots of land into smaller plots for you. They are also taking into account city planning and the need to install sewers, plumbing, and city utilities. Telecommunications companies have to be part of this project as well, which means that surveyors have to work with all of these professionals, to make the smaller plots work with the planning and installation of these services.
Titling the Plots
Once everything is plotted and planned and has boundaries identified by the surveys and surveyors, titling comes next. Each plot has its own title, worded by the surveyor as it was created and filed with the county/city. When you sell each plot, this title follows the owner(s), and is connected to each property owner in the future. The titles will describe the plots according to boundaries, features, markers, city utility lines, and telecommunication lines. At this point, all you have to do is hire a real estate agent to sell the plots and get contractors set up to build for those who buy the plots of land from you.Share