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A land survey gives you information about the property boundaries, easements on the plot, dimensions, and, in some cases, topographical information. A land appraisal will often take these figures into account, but the purpose of a land appraisal is to determine the value of the land rather than the physical specifications.

If a buyer pays for a survey, the surveyor they hired will only provide results to them. It’s up to the buyer whether they share the survey results with the seller or not, even if they ultimately walk away from the deal. It’s considered good faith to share the results with the seller, though, especially if you back out of the deal, as the seller can then provide that survey to future interested parties.

You should always calculate real estate development costs on a case-by-case basis, so there’s no specific formula to estimate your total. You should speak with a local construction manager to see what you’ll need to do in terms of clearing and leveling the land, connecting utilities, and pulling permits for construction. A professional will be able to get you an accurate estimate for land development.

Prior to excavation, you should prepare the dig site and call 311 before you sign anything.

To get your site ready for excavation, you should move anything in the area that isn’t affixed to the land. You can save money on the excavation by removing hardscaping, including walkways, decks, concrete patios, and paver patios.

Before you carry out any digging, you should call 311 to confirm that there are no utility lines running through your excavation site. Skipping this step could lead to severe injury and property damage if your excavator hits a water, sewage, or gas line.