Land Purchase

[kbh]

Hello, looking for some help/thoughts on purchasing land in the area. We are looking at a couple of properties in Meredith, overlooking Lake Winnisquam. Both are bare land, approximately 3 acres. The intent is to purchase land now and hold for a few years and then build a retirement cottage...

Couple of questions for those of you with experience in this area:

- What does it cost to drill an average well in Meredith?
- What about a septic plan?
- I have looked at both the properties with the listing agent, would you recommend using the seller agent or bringing in a buyers agent?
- Any ideas on what percentage off listing price is a good start?

Any thoughts or recommendations on how to start this process would be appreciated.

[songkrai]

Wells.
Good question.
Best to read up on such.
Since around 1984 or thereabouts - the state has records of all artesian wells. Posted on NH web site. You can look up the depth of any neighbors.
That number, of course, can be meaningless. As each well each property is different.
I would seek out the "pounder". There is only one left in the state that I know of. The rest are drilled.
Read up on the difference between a pounded well and a drilled well.
Read up on gallons per minute.
Read up on powdered cement and well drilling.
Most well drillers will provide a written estimate. A meaningless piece of paper but a contract that states that you will pay for the drilling even if no water is found.
All artesian wells go by the foot. The cost.
There is only one well driller in this area that will provide a fixed price for a well and guarantee water no matter what the depth.

[songkrai]

Septic plan.
There are many licensed septic designers in the area.
All are capable of designing a septic system.
There are many kinds of septic systems.
Some just use raw land. Others one can place under a driveway.
Your best bet is a gravity system. No pumps to wear out.
And with both a well and a septic system - make sure all pipes are deep enough for the worst frost.

[Winnilifer]

I might be of some help to you.

I live on Winnisquam (Laconia/Leighton Ave) close to Meredith Line (roughly 1/4 mile). I put in a complete septic system last year. I also have a well on my property but wanted another (We did get approx. costs) because I wanted to add a garage at the well head location. When I bought my home I used a friend (Realtor from Mass) and used him as a buyer’s agent, worked out great for me.

The septic permitting and design were done by Ames Assoc. Meredith. (Highly recommend)

The septic work was completed by R A Dunlap & Son Excavation - Sandwich/Moultonboro (Highly recommend)

Got pricing from Gilford Well who maintains well and irrigation.

There have been a lot of lots for sale (non-waterfront) on my street (As well as Collins Brook Road in Meredith/Winnisquam) and Laconia for years - so I think you can be aggressive in bidding.

If you would like any specifics on pricing think/believe its best if you PM me.

[jrc]

With a buyers agent, make sure you know what value they will bring to a land purchase. A buyer's agent can cost you, the buyer, money, especially on land or other low commission rate sales.

I listed a house for a good rate that I negotiated with a seller's agent. The buyer had negotiated a 2% higher rate with their buyer's agent. The buyer had to pay the 2% difference from their pocket. They actually paid 102% of my asking price.

[DRH]

We used Ames Associates in Meredith to design our septic system in 2004. They did an excellent job, both in designing the system to meet all applicable regulations and in obtaining the necessary construction permits. Unfortunately I don't remember the cost, but they could probably give you a ballpark estimate over the phone.

Here's a link to their website: http://amesassociates.com/septic_sys...front_ames.php

[Just Wonderin]

I would highly recommend using a buyer's agent. We purchased land in Moultonborough a few years back and considered just using the seller's agent. Technically, it's the seller who ends up paying the commission anyway. Your negotiated selling price is the price.

If you work with the seller's agent, remember that they are working for the seller, NOT YOU. If you work with a buyer's agent, they will be looking out for your best interests, not the seller's. They may make recommendations that you had not thought of and that the seller's agent would probably not suggest.

When we originally purchased our land, we ended up working with Bruno Coppola with Lakes Region Real Estate in Meredith/Moultonborough. He did an excellent job of negotiating for us and probably saved us an extra $5000 in negotiating the transaction. He knew we really wanted the land and did what he needed to do to get the job done. Had we expressed our strong desire to own the land, I'm sure the seller would have recommended to his client that they hold firm on their price.

Whether you contact Bruno Coppola or any other agent, I would just strongly recommend that you use your own agent, not the seller's.

I hope this helps.

[minnabristol]

Thomas Well in Moultonboro is the best well driller in the area. Their service is outstanding.

[RLW]

minnabristol, I just noticed that you are fairly new to posting on the forum and glad you have joined us. Have fun and enjoy the Winni Forum while making many new friends.

Great to see'ya input and joining in.