Posted by David Krulac on June 05, 2005 at 07:08:31:
thanks,
I’ve gotten several subdivision approvals this year and know that it can be a long drawn out process. One subdivision took 3 years and six figures and I still didn’t have any approvals. Every mis-step costs time and money. Most muncipalities have only one meeting a month, so if you screw up even something minor, it costs you a month or more. All the time the meter is running. In addition there are increasing regulaitons that apply to subdivisions like streams and wetlands crossing and flood plain delineation. On one recent plan I had to get approval from 2 municipal government organizations, 2 county government organizations, 2 state organizations and a Federal organization. All of those add to the time line and the developmental costs.
Land Financing and Subdivision Help Needed!!! - Posted by Freddy - Pa
Posted by Freddy - Pa on June 03, 2005 at 21:03:37:
My family and I have an oppurtunity to purchase a 28 acre farm. There are 4 families that would like to purchase the property. How is it possible to purchase the land and subdivide it equally under one loan?
If we all purchase the property under one loan, how would we subdivide the parcels when each family wants to build on their selected parcel?
Can an attorney do this? Is it possbile for the bank to assign value to each parcel then when it comes time to build that family pay off their selected parcel?