By Hank Kaplan
Buying land for Dragonfest differs from purchasing a home and requires a more complex process, especially regarding financing and suitability for development. At this point Dragonfest would be seeking unimproved or improved land (not raw land) ideally within three hours drive of Denver, with specific features like water access, privacy, flat/open areas, road access, utilities, and potential for temporary structures or caretaker housing.
Use of the land must meet zoning requirements, allow event use, and not be governed by any HOAs. Key site characteristics to be investigated include easements, setbacks, fencing, nearby services, affordability, and utility access (electricity, water, internet). Parcels would also be evaluated for environmental sensitivity, flood risk, topography, and prior use. Tools such as soil and percolation tests help determine buildability and septic viability.
To start the search, buyers would explore listings on real estate sites (LandSearch.com, LandHub.com), government auction sites (Disposal.gsa.gov), classifieds, or by driving through target areas. While a seller’s agents can represent landowners, Dragonfest would look into hiring a buyer’s agent with an Accredited Land Consultant (ALC) designation to ensure guidance tailored to Dragonfest’s goals.
Once a viable property is identified, thorough due diligence would be essential. Research will verify zoning compliance, tax rates, utility access, and deed restrictions. There would also be a review of local “general use” plans to help forecast nearby future developments (e.g., landfills, roads) that could impact the land’s value or use. Consulting with local zoning authorities or land planners would be a requirement.
Unfortunately, financing land is more complicated and requires more preparation than a home mortgage. A clear usage plan is often mandatory, especially for raw land. Options for finacing include:
- Traditional bank/credit union loans (which often require high down payments)
- Lot loans (higher rates, fewer lenders)
- USDA loans (for rural land and caretaker housing)
- SBA 504 loans (if part of a business use)
- Owner financing (more flexible, lower entry barriers)
A construction-to-permanent loan may also be used if plans include building and the property is utility-ready. Before applying for loans it will be necessary to also estimate costs for grading, access roads, utility hookups, and construction and other expenses including permits, soil tests, environmental assessments, and closing costs (many of which can be negotiated with the seller.) When making an offer, Dragonfest will include contingencies for zoning approval, surveys, financing, and due diligence (typically 30–90 days). This allows us to walk away without losing earnest money if the land ultimately proves unsuitable.
Successful land acquisition for Dragonfest will hinge on preparation, expert consultation, financing strategies, and a clear understanding of both property characteristics and regulatory constraints.