This form is for an option to purchase a residential real estate lot or track of land. It provides for the payment of option money and the procedures for exercise of the option.
West Virginia Option For the Sale and Purchase of Real Estate - Residential Lot or Land
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How to fill out Option For The Sale And Purchase Of Real Estate - Residential Lot Or Land?
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Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.
Contingent in any sense means depending on certain circumstances. In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met.
According to the Congressional Research Service, Virginia spans 25.5 million acres.
The average price of land listings and rural property for sale in West Virginia is $280,903.
Buyer Beware (§30-40-19) The state of West Virginia falls under the category of a Caveat Emptor which effectively translates to let the buyer beware. The term refers to the protection granted to the seller of the property after a transaction has taken place and the property has changed hands.
West Virginia Death DisclosureWest Virginia does not have a law requiring disclosure of death on a property. The state does not consider death to be a material fact requiring disclosure.
For instance, the cropland value report estimates the average value of an acre of Virginia farmland is $4,650, a 0.6% increase over the past year, compared with a 6% increase over the past five years. Many farmers rent land.
No Seller Disclosure Regulations in West Virginia Under the doctrine of caveat emptor ("let the buyer beware"), judges ordinarily refuse to compensate buyers for home defects found after the purchase unless the seller did something to actively prevent the buyer from inspecting the property to find all of the defects.
The cost of buying land in West Virginia is not too steep. Depending on the neighborhood, you can get an acre of land for $1000 but a 2-hour drive to a nice locality may give you an acre for $10000.