Redrawing Lot Lines/Subdividing Questions
As a newbie to development, I have lots of questions but here is one for an opportunity I am looking at.
There is a SFR for sale on almost 2 acres in a hot area for tear-downs, where builders are putting in $1M+ houses. Lots can go for $300-500K depending on size, slope, street, etc. This lot can be subdivided into 2 lots, but it is priced that way so I am looking to make it even better.
My questions are:
- if I can buy part of the empty lot next door (slope cuts through it and makes pretty unbuildable), what do I need to do to combine the 2 parcels, then subdivide them into 3 buildable lots?
- Who approves redrawing the lot lines? It is unincorporated land just outside the city. Is it just the county?
- Who do I need to work with to draw up the plans? I know I need a survey, tree survey, but what else, and who does it?
- What are builders looking for when I market the lots? Do they want all the variances/approvals done, or would they rather handle it themselves so they know it was done right?
- anything else?
Sorry for the long post, but I appreciate everyone's advice.
Peter
First, you need to understand the county/city subdivision ordinance. Talk to the county P&Z, they should be able to give you copies of the ordinance and answer any questions that you have. Also, they shoud be able to tell you the steps required for plat approval.
Second, you will need a level III soils test to determine if the lots can handle septic systems (unless you are on sewer). Expect to pay between $250 to $300 per acre lot for the soils test.
The closer the lots are to being ready to build on the more valuable they are. Most builders will not go to the trouble to combine the lots. That is where your oportunity lies.
Thanks for the reply. I'll head to the P&Z today.
BTW: There is sewer on the street, but the existing house is septic (it is at the end of the street in a cul-de-sac). I guess I should plan for septic and test each lot, but note that sewer is available if the builder wants to pay to tie into it. Does that sound reasonable?
Peter
I would suspect that the property would be required to tie into the public sewer if it's within a certain distance from existing sewer lines. Check with the municipal people about this.
In addition, I think you might be better off accessing the public sewer instead of septic. In my area, developers and also builders prefer to deal with properties that have public utilities. Less problematic, less guesswork about yield & suitability and sometimes, less expensive an expense item than on-site systems.
Nancy