Posted by Tommy T on February 21, 2007 at 18:14:54:
Could be interesting, if you can get terms and buy at the value of it as
raw land or less. If the seller will subordinate, you should be able to
get construction financing if the project makes sense. If there is a
foundation, there should be permits and plans and maybe some other
utilities infrastructure already done, and there is value in that. Ask the
seller or do your home work at the local authority that issues building
Land Deal, I Think - Posted by Quizmos
Posted by Quizmos on February 21, 2007 at 07:33:52:
I am looking at a property that is advertised as having several out buildings and a foundation (looks new, never built on). The property is pretty much beyond my financial reach at nearly $300,000. I have several properties that I have equity in and could sell for down payment.
My query, is this considered raw land or does the foundation make a difference? I want to go to the bank but can’t afford a raw land interest rate.
Re: Land Deal, I Think - Posted by James
Posted by James on February 21, 2007 at 17:43:34:
No building…99% no deal. It’s not considered ‘improved’ in any way.