Arizona Acquisition Checklist
Description
How to fill out Acquisition Checklist?
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FAQ
Private land is a precious commodity in Arizona. Only 18.1% of the state's land belongs to private owners. The federal government owns 42.1%. State trust land comprises 12.7% of the land, and the remaining 27.1% belongs to Native tribes.
Property Buyer's Checklist (Home or Land) Flooding and drainage disclosure. A description of adjacent land and uses. Who provides electricity, telephone, gas, water and sewage disposal. Common community and recreation facilities. Assurances for completion of improvements.
The USDA's 2021 survey priced Arizona's cropland at $7700 per acre, almost twice the U.S. average. Arizona is the third-most expensive state to buy cropland, second-most expensive to rent it ? ing to an agricultural investment research group.
Ask to see the Arizona Department of Water Resources report for the property. Determine that there is an assured or adequate water supply (depending on whether the property is in or outside of a Groundwater Active Management Area), and how much it will cost to have a well dug if necessary.
Foreclosure crisis: Arizona was one of the states hardest hit by the foreclosure crisis of 2008. This led to a large number of vacant lots and foreclosed homes, which drove down land prices.
The sale and development of State Land is often a long and slow process, taking from two to ten years. The purchasing process is initiated by an application, completed by the applicant and filed with the Arizona State Land Department. Submission of an application does not guarantee the land will go to auction for sale.
