Are you a landowner who is thinking about subdividing your land into residential lots? In this second of three articles on the topic, you can learn about subdividing land from the real world experiences of a real estate lawyer and developer. Be sure to check out the first article in this series that describes the common benefits and risks of subdividing your land. As noted in that article, some of the benefits may include: Increasing the total value of your land, Providing you the flexibility to keep your home, but still get income from selling your extra land, or Boosting…
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Subdividing Land: Tips for Landowners from a Developer (Part 1 – Evaluate)
Learn to evaluate the risks and rewards of subdividing land into residential lots. In this first of three articles on the subject, a developer and real estate lawyer provides landowners specific items to evaluate when considering whether or not to subdivide land. Come back for the next articles in this series that provide insights for landowners based on the author’s real world experiences with the subdivision process, as well as a hands-on description of the steps landowners should take when subdividing land. Why Subdivide My Land? Sub·di·vide (v.): to divide into several parts; especially: to divide (a tract of land) into building…
Read moreList Now & Sell Your Property with these 3 New Year’s Resolutions
If you want to sell a property, the first thing you must do is actively and aggressively market it. To find the right buyer, you have to have the right exposure. But it’s amazing how many people don’t properly market their properties or simply fail to list them at all. Whether you are a real estate agent, a homebuilder or an unwilling property owner, you are missing out if you have not recently reviewed your marketing efforts and created a targeted online listing to sell your lot, land or other property to the right type of buyer. It’s not too…
Read moreUse Real Estate Professionals: Tip #8 for Buying Residential Lots and Land
All of the 8 Tips for Buying Residential Lots & Land for a New Home play an important role in evaluating a lot or land for sale, but it’s possible that the single most significant tip is to make sure you are working with experienced, knowledgeable and helpful real estate professionals. The A-Team Successfully identifying and purchasing that “right” property often requires the help of professionals with whom you work very closely – like an agent, home builder and architect. These primary contacts for buying lots or land for a new home are your A-Team. Choosing a good A-Team can…
Read moreOnline Listings to Sell Land or Lots: Five Tips to Help Spur a Successful Sale
Did you know that 90% of real estate buyers are now searching online for properties? Clearly, online listings should be a critical part of your strategy when you want to sell lots and land. And when an online listing is the first impression (and possibly only) that greets potential lot and land buyers, an engaging listing can be the difference between a property that languishes and a property that moves. Here are our top tips to help you successfully sell land or lots online by creating an effective property listing. Photos. Creative, Strategic, Smart Photos. You’ve heard it, you know it: photos…
Read moreResearch Title & Restrictions: Tip #7 for Buying Residential Lots and Land
In our last post on the 8 Tips for Buying Residential Lots & Land for a New Home we discussed roads and access, including easements that may benefit your land. Now we will shift our focus to title restrictions and other restrictions that may burden your land. Before buying a lot, you always should review the lot’s title and get owner’s title insurance. Reviewing “title” for a property typically includes an in-depth study of the parcel’s history through land records, maps, liens, legal documents and other facts on the public record that may affect a property. This may sound boring,…
Read moreLots and Land Development: How do you know when the Market is Ready?
Land development tends to be one of the riskiest roles in the housing industry, so for land developers it is important to know that the market is ready for a new project to avoid taking on excessive risk. What are the tools or metrics that land developers can use to analyze housing markets and help them evaluate whether the market is ready for developing land into lots for new home projects? Risks of Land Development Land developers are at the front-end of new home construction. Land developers typically borrow and advance the funds that are needed for them to pay for…
Read moreRoads & Access: Tip #6 For Buying Lots and Land
Our journey through the 8 Tips for Buying Residential Lots and Land for a New Home continues with a look at the important Technical Due Diligence topic of roads and access. Access: Don’t Get Landlocked Landlocked. It’s a real estate term that describes land completely surrounded by property owned by other parties, impacting the owner’s ability to freely access the land. This Tip can help you better understand access issues so that you can avoid buying property that is landlocked – or otherwise has inadequate access rights – in the first place. Typically, lots for sale in newer residential communities…
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