Subdivide property before you sale? Or is it better to sale your home as one?
Here's the thing.... I have two house that are right next to eachother. One house in on 1/4 of an acre and the larger house is on 1/3 of an acre. I'm selling both of the homes and have 60 days to do so because I'm on a contingent offer with a new home that I am buying. It's a very good size lot that both of these houses are on for the area we are in. Everyone keeps telling me to see if I can subdivide my larger lot to make more of a profit. ... (Asked by awsomeaussies206)
|
 |
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
If your city said each lot needs to be 8500 sf and an acre consists of 43,560 sf, you are good to go to sell them separately!
Your friends are right in the sense that you would likely be able to get more money if you sold them separately. I highly suggest you list them separately AND together so as to not eliminate any potential buyers. Also, you may only have to sell one of the two to be able to perform on the contract for your new house....(Answered by linkus86) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
How do you subdivide your land?
I have 30 acres of land and Im looking to build my own home and sell the home I'm living in now. What is the process of subdividing? And what is the potential price range?
... (Asked by Phoenix)
|
 |
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
you may want to talk to a local lawyer in your area on how much it would cost to subdivided your 30 acres and if there are any restrictions placed by the county or local government,
you will also need a survey done
price range very hard to tell, look in your local newspaper to see what people are trying to sell either raw land or tear downs for to give you an idea...(Answered by goz1111) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
how do you sell subdivide your land to sell it in lots?
I want to know how much trouble it is and how do you go about it - planning commissions and such..
... (Asked by pam g)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
Go to your local planning department and discuss the potential for subdivision. They will tell you if it can be subdivided. Most likely the will not tell you how many lots you will get out of a subdivision but hat it has potential. You will then want to speak with an independent planner/engineer/architect to draft a preliminary sketch of the property with the subdivided lots and submit for approval from the planning board. They will then approve you and you will have to get approved by your Health Department, DEC (if it has environmental issues) and other agencies etc. The ...(Answered by tianaramal) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
can i subdivide my property even though i have a mortgage?
let's say i have a home on a 1 acre parcel, with a big mortgage, will the lender allow me to subdivide the property into (2 ) 1/2 acre lots where only one of the newly formed lots will be encumbered by the mortgage? thanks
... (Asked by ben c)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
First of all you need to understand that the mortgage encompasses all of the land and you should have structured a partial release clause on the mortgage when you acquired the loan for this very purpose. However if this is a thought after the fact you need to understand that yes you can subdivide the land pursuant to your state and local government regulations but the mortgage will continue to be on both parcels and the entire balance on the promissory note will need to be paid upon the sale of one lot if you do not have a partial ...(Answered by newmexicorealestateforms) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
how do I subdivide a land that already has a house?
property is in victorville, Ca
house is sitting on 1 acre 3.87 acres are left.
can I subdivide and sell the rest and just keep the house?
I paid the 4.87 acres in cash.
But the house itself has a mortgage
it is a brand new house.
... (Asked by Villagomez)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
I can only give you general answers to your question, but here goes:
The answer differs from one locality to another, and according to the present zoning and use of the vacant land, and the proposed use of the land after subdividing.
If you are going to continue to use the house and nearby land for its present use, and sell the land to someone else, that is one thing. Then, the steps needed for use of the vacant land you are selling will be the responsibility of the new owner of the vacant land. If you want to do ...(Answered by JOHN B) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
| Note: We are not affiliated with Yahoo! Answers in any way. All the content is retrieved from Yahoo! Answers. We are not responsible for the content. For more information, please see the term of service. The above content was retrieved on August 08 2008 06:42:04.from Yahoo! Answers (Category Home > Business & Finance > Renting & Real Estate). We are neither affiliated with the authors of this page nor responsible for its content. The data may have changed since that time. Click here to search real time questions/answers from Yahoo! Answers. |
|
