Newbie Development Questions
Hey, I just have two quick questions if anybody wants to take a stab at:
1. Is it common practice for land owners to sell their land contigent upon municipal approval of the proposed site plan (even if it may take several months)?
2. When figuring out whether developing land is economically feasible, the selling price of the future property usually needs to be determined. What factors are used to determine how much property will go for if it takes several years to be built? ie. past appreciation, the product etc? What else?
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