Selling tear down. How do determine it's value?
HI there,
I am selling a single family teardown that's on a 70x100 corner lot in a town that is mostly two families. Lots of tear downs going on here. The house is on a corner lot with a sidewalk on one side and no sidewalk on the other. My understanding is that builders can't build as large a building on a corner lot.Is that true? If so, how much does one deduct in price on a corner lot? How do I figure out how to price my property since it's not a new or old two family but an older single family?
Most Popular Reply
It might be worthwhile for you to go through the zoning yourself and sell the lot "shovel ready" with approved variances for a bigger project. If builders are pricing the risk in, you probably won't get what you want out of it.