 Extreme Veteran
Posts: 336
    Location: Missouri | I'm no help on costs, but would like to throw a few things out for you to consider in addition (I used to be a title insurance agent, and worked in real estate as well).
First, when you say she "gave" you the land - was this via a Warranty Deed or Quit Claim? Unless there is a Warranty Deed, you may find yourself having trouble securing a lender, as well as should you ever need to sell. It sounds as though the family situation could deteriorate and the entire property could be contested and a surveyor called in.
Do you have public road access? If not, is there an access easement specifically on your deed? I ask because you mentioned in was in a corner of the farm. Again, this can cause problems with securing a loan and future sale/worth, not to mention the legal mess that could possibly ensue with family members.
How close are you to utility access? If you have to run water and electric a great distance, you could be looking at some major costs.
Not trying to be negative, but you mentioned you are looking towards the future and planning on this being a lifelong home. Without a clear title, you will have a lot of money tied up in something that is not marketable (and face the risk of having your 1 acre involved in litigation). |