I have begun working for a company that is purchasing Residential Lots. We are investors, so there are criteria that I am following.
Basically, I'm looking for residential lots that meet this criteria,
Up to 2 acres.
Sold Comps are to be between 400K and 1.5 million. AND above 175 per sq/foot.
5 Comps within 3 miles sold in the last 12 months. Most relevant.
We will pay up to 15% of the comps average. Also 10% below list price.
For example Average comp is 1 million, asking price is 150k for the lot, highest offer will be $135K.
We ask for a 10 business day inspection period, followed by 30 day closing for all cash. If financing is available, then by all means we'll discuss that.
If you are aware of any lots in your area that could meet these criteria, please PM me so that we can discuss specifics.
I have begun working for a company that is purchasing Residential Lots. We are investors, so there are criteria that I am following.
Basically, I'm looking for residential lots that meet this criteria,
Up to 2 acres.
Sold Comps are to be between 400K and 1.5 million. AND above 175 per sq/foot.
5 Comps within 3 miles sold in the last 12 months. Most relevant.
We will pay up to 15% of the comps average. Also 10% below list price.
For example Average comp is 1 million, asking price is 150k for the lot, highest offer will be $135K.
We ask for a 10 business day inspection period, followed by 30 day closing for all cash. If financing is available, then by all means we'll discuss that.
If you are aware of any lots in your area that could meet these criteria, please PM me so that we can discuss specifics.
Thanks,
John Archer