You’ve found a piece of raw land you wish to purchase, one that is unimproved and has no streets, structures, utilities, or sewers. Before you can proceed with the purchase, you’ll need to obtain the necessary financing. Many find this isn’t as easy as they imagined, as the majority of lenders prefer to finance developed properties. Where should you turn in this situation? How can you improve on your odds of getting the financing you need? A firm offering land development Engineering in Gulfport MS can be of assistance in this situation.
The first thing you must do is decide exactly how you want to use the land. Your lender will want to see this information. The more detailed the plan you provide to the lender, the easier it will be to obtain financing. Sit down with the land development engineer to create this plan. He or she helps you determine which areas are best for which purposes and he or she can help you create blueprints, ones which will help justify the loan. Lenders need to see that the raw land will appreciate, as it cannot depreciate with nothing on it.
In addition to creating blueprints for the land project, the engineer can help to lay out a time frame for the various portions of the project. Raw land doesn’t typically bring in income until it has been developed and the cost of development can be high. With the blueprints, a time frame can be established for different parts of the project, showing how long each portion will take to complete and begin generating income. Trees and streams may increase the value of the land also, allowing you to generate income from the sale of the timber or through the leasing of water rights. The engineer can help you show this to increase your odds of getting the financing you need.
When you need a firm offering land development Engineering in Gulfport MS services, turn to Oneal-Bond Engineering. In business for more than 40 years, the company offers a wide range of services, including land development engineering. They can also be of assistance with hardscaping design, wetlands delineations, land surveying, and more. All you need to do is ask.
