Acreage In CFL
I recently put a nice piece of property under contract at a price that is well below market. It is a 9 + acre parcel in an area where builders and people wanting to build their own homes are paying anywhere from 30-40 an acre. This particular piece has some utility easements that literally slice it down the middle. How do you suggest I go about marketing this puppy? I would rather double close or assign my contract to a buyer.
Any thoughts would be appreciated.
What uses are permitted by current zoning--eg, single family detached?
What's the minimum lot size?
Are the utility easements for structures or overhead lines or are they for in-ground?
Has the easement path been staked out?
What would the new home on its lot sell for?
What uses are permitted by current zoning--eg, single family detached?
Single Family
What's the minimum lot size?
100 Frontage feet, not sure of depth?
Are the utility easements for structures or overhead lines or are they for in-ground?
Overhead lines, already there.
Has the easement path been staked out?
Yes.
What would the new home on its lot sell for?
200k+
The zoning ordinance will tell you what the minimum lot size has to be. Roughly estimating the yield would be necessary in order to put a value on the property, since builders generally do their evaluations on a per-lot and not a per-AC basis.
Is the zoning R1, R4 or other?
A-2
No idea what it is worth. But one way to tell is to start calling, faxing, writing builders in the area (yellow pages, local associations, etc) and giving them the parcel ID of what you have and tell them you are looking to sell the property within the next ____ days. Just go fishing and see what the fishes have to say and offer. When they call, get them to start talking. AFter the second one calls you, you will be able to talk enough of the talk to sound like you know.
Another thought, is drive around the area and find the realtor that has the most signs up on the vacant land. Call that realtor and tell him you are thinking of selling it but not sure that you would use a realtor. Could you pay him a fee for doing an evaluation and telling you what it is worth.
Brenda
saniche,
Do you know how many lots can be subdivided from the parcel?