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Highest and Best Use: A Superpower You Already Possess

Appraisal Buzz

In this test, youll examine zoning and building codes, variances, deed restrictions, building covenants, and easements to assess a range of legal uses for the subject property. Financially feasible – Would the proposed use generate enough income to pay for construction costs and make a profit?

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What it’s like originating reverse mortgages in Montana

Housing Wire

That can be a challenge if they live in an unusual or uniquely constructed home, or if they live on a vast stretch of land with few neighbors. You also get a lot of spec homes on dirt roads with private road easements and no recorded road agreement, which can create issues.”

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How an Easement Can Make for Lousy Neighbors

Zillow

Welcome to the wonderful world of easements. In our example, if Sandy refuses to let Mark pass through, legal intervention may eventually be necessary to enforce his easement - Mark's right to use someone else's land in order to access his own. ” A person who has an easement does not actually own the land.

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11 Land Buying Tips: How to Buy Land

Raleigh Realty

It will help you learn if there are any easements or restrictions on the land that you need to know about. The first, a construction loan, offers a one-year loan that helps get your project off the ground and into being. This is a detailed construction plan for your building.

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The Four Tests of Highest and Best Use

McKissock

If not, obtain one, specifically covering boundaries to learn if easements or encroachments exist.). Is there a maintenance easement, such as with waterfront properties, that could affect existing or proposed structures? (For Some questions to answer: Do you have a current survey of the property? (If Are there any deed restrictions?

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How Does Lot Size Impact Property Value?

CP Home Appraisals

New Construction Premiums: Most builders will charge a great deal more for larger lots, but in the long run, the resale market might not want to pay that same premium. If that added lot space is not usable due to zoning, easements, vernal pools or other issues, the lot is not going to hold much value.

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6 Tips When Buying Commercial Land for Sale in Columbus, Ohio

The Robert Weiler Company

Learn about roads, easements, and property rights: Consider spending the afternoon or night on the land that’s for sale, if possible. Learn about easement rights and road access. So, start by researching the nuances, including qualifications and minimum downpayment. Then research lenders who offer commercial real estate loans.