Posted by Bill HJ on August 23, 2006 at 18:16:57:
What is this easement that takes almost half of the property?
What is the highest and best use for the property?
Where are the utilities, Water, Sewer, Electric?
What makes it worth $170,000 for less than half an acre?
These and so many other question come into play in the sale and development of raw land. Figure out the answers to these and market it specifically to a builder, developer, build to suit,etc/.
Good Luck,
Bill H
Bare Land - Posted by Denny
Posted by Denny on August 23, 2006 at 10:29:46:
I need someones help with this. I have a small piece of property in Modesto Ca. To be exact .87 acres with an easement making the true acreage .487. I have a single wide mobile home which is approximately 40 years old. Virtually worth nothing. I have been on the property for 11 years and the current mortgage sits at approxiamtely $35,000 and change. I had the property appraised August of 05 and it was valued at 170,000. But as you know with regards to refinancing or even selling the property banks and most lenders look at the property and view it as vacant or bare land. My dilemma is that I am finding it almost impossible to get to the 135,000 in equity I have in the property. Does someone know of a way that I can get this deal done? Who do I turn to that will help me get at this equity?