How to buy the right land every time
using the B.K. HAYNES professional scoring system
|
TOP SCORE |
EXCELLENT |
GOOD |
FAIR |
POOR |
|
5 points |
5 |
3-4 |
1-2 |
0 |
|
Top Score |
Points |
|
| Price & Terms Unique Appeal Location Waterfront Potable Water Usable Land Soil Conditions (see example #3) Privacy Access & Utilities Upgrade Costs Resale Potential |
30 |
|
|
100 |
SCORING SAMPLES
EXAMPLE #1: After years of fruitless searching, you stumble on the place of your dreams. It's perfect -- in the middle of a National Forest with a trout stream running through it. You can steal it. And it's in the exact LOCATION you want. You quickly score 30 points for PRICE & TERMS, 20 points for UNIQUE APPEAL, and 10 points for LOCATION. More investigation tells you that the Forest Service will not let you have access for a dwelling. Nor can you drill a well, cut any trees, or build a road. You score 5 points for PRIVACY, 0 points for the other components. Your score totals 65. A likely winner is actually a loser.
EXAMPLE #2: You're new to the area, so you don't know land values. You find a desirable piece of waterfront property that scores 40, without counting PRICE & TERMS. Further investigation shows that it will only appraise out at 60% of the asking price. Unless you can cut a deal on the price, you will come up with a score of less than 70. A potential loser.
EXAMPLE #3: You strike a deal on a one acre lot that you score at 85. You feel the lot is perfect for the mobile home you are planning to buy. Come to find out that the land area is too small to support any approved home sewage disposal system. Big score. Still a loser.
QUALITY REFERENCE SHEET
| CHECK LIST ELEMENT | EXCELLENT | GOOD | FAIR | POOR |
| PRICE & TERMS | Below market. Dream terms. | Below market. Good terms. | Market value. Lousy terms. | Over-priced. Terrible terms. |
| UNIQUE APPEAL (Maximum 20 pts) | Just what you are looking for. hard to beat. | Not perfect, but good enough for another look. | Coach-class land. Could upgrade with vision and work. | Complete turn-off. Not the setting you want. Forget it. |
| LOCATION (Maximum 10 pts) | Within 1 hour of a major city and near your work; or at resort area. | Up to 1.5 hours to a major city. near town or resort area. Commutable. | 1.5 to 2 hours from a major city. Near town, resort area, natural attractions. | Out in boondocks. A long way from home. Little to do when you get there. |
| WATERFRONT (Maximum 5 pts) | All the features you want on river, creek, lake, pond, ocean, quarry. | 2nd best waterfront on your wish list. Most of what you want. Nice setting. | Some water on site even though it's not navigable. you can try building a pond. | If water is around it is underground. Area is bone dry. maybe it will rain. |
| USABLE WATER (Maximum 5 pts) | Central water, or good well. Spring water available. | Easy to drill a well. Lots of water at reasonable depths. | Well depths deeper than normal, but good flow possible. | Underground water not available at reasonable depths. |
| USABLE LAND (Maximum 5 pts) | All usable, and/or joins public/govt. forest, park, etc. | Most is usable and acceptable for use now and in future. | Want more usable ground. But other features override. | Too steep, too wet, too dry, too rough. But it's dirt cheap. |
using the B.K. HAYNES professional scoring system, continued
| CHECK LIST ELEMENT | EXCELLENT | GOOD | FAIR | POOR |
| SOIL QUALITY (Maximum 5 pts) | Deep, well drained. Good for in-ground septic, agriculture. | Good for in-ground septic. marginal for profitable crops. | Some clay-like, wet, shallow. Marginal for crops and septic. | Clay, wet, shallow depth to rock. Bad for crops and septic. |
| VIEWS (Maximum 5 pts) | Appealing views. Just what you've been looking for. | Attractive views from homesite. Limited elsewhere. | Partial views from homesite. No views on balance of land. | No appealing or possible views at any spot on land. |
| PRIVACY (Maximum 5 pts) | Perfect spot out of sight and sound of homes & traffic | A neighbor or two in sight. Occasional traffic passing by. | Neighbors on large lots. Some density. On/near main road. | Neighbors on small lots. Traffic noise. Many homes nearby. |
| ACCESS AND UTILITIES (Maximum 5 pts) | State or paved rd. Elec. telephone & cable available. | Good all-year rd. or right-of-way. Elec., tel., cable. | Passable road or right-of-way. Extra costs to run in lines. | Rough, narrow r/o/w. No utilities avail. at reasonable cost. |
| UPGRADE (Maximum 5 pts) | No improvements to site necessary. Ready to build. | Some landscaping and clearing needed before building. | Clearing & clean-up needed to fixup overall appearance. | Totally overgrown, steep, marshy, or hit by hurricane. |
| RESALE (Maximum 5 pts) | Buyers waiting in line. Exactly what they're looking for. | People say this is what they want. Quick sale possible. | If might sell if time and tides are right. Persuasion needed. | Few, if any, features of interest to buyers. Must sell at a loss. |
|
SCORING KEY |
||||
|
TOP SCORE |
EXCELLENT |
GOOD |
FAIR |
POOR |
|
5 points |
5 |
3-4 |
1-2 |
0 |