I’m about to put a house under contract that sits on 2 Acres. Is it possible to buy this home from the seller on 2 acres, flip to my end buyer on .5 acres and keep 1.5 acres for myself? To me it seems like a way to gain more profit if my endbuyer wants to purchase the other 1.5 acres at the time the purchase contract is signed or purchase the 1.5 acres at a later date.
What is the zoning of this property? Is this minimum 2 acre lot's or minimum 1 acre lots? If minimum zoning is less than .5 acre that's ok however the city will probable make you subdivide the whole property into 4 parcels (4X.5) if this is the case and designate access easements! GR
Thanks for you response. I’m not sure of the Zoning. How can I go about getting that info and if I am able to subdivide, can it be done since I’m doing a back to back closing?
No, subdividing land takes months or years depending on the state and county!
You have to legally own the land in your name and your lender (If Any) has to agree to reconvey title to multiple lots in order to entitle them!
Cost to do a simple subdivision (4 lots) could run $10k or more! And requires survey and stake!