Splitting lot with two buildings on it. $$$$$

3 Replies

Trying to think outside the box on financing a property. One lot with two buildings. Thinking if the owner could split the buildings up, that I could purchase the one building with FHA financing and contract for deed the other one.

My question is, what would ballpark costs be to divide the lot?

That’s super dependent on your district. Have you spoken with anybody from your local zoning board to inquire about the process? If it needs to be split in order for you to buy the property, it’s unlikely the seller would agree to do so. You’d have to pay out of pocket. But that’s dependent on the seller

@Matt Hurley His realtor is looking into it. It's a small town. And the owner is pretty much willing to do whatever it takes to make the sale.

Not sure if it's even possible with minimum lot requirements. But it's a very small town and the Realtor has been in contact with the mayor and is friends with him.

@Larry Long sounds like it might be an option then. The properties in my area get 10 offers within 24 hours of dropping on the MLS, so if someone came in and said "could i split the lot" they would get thrown out of the offer pile pretty quickly. Hope it works out!