Profile picture for BethRoe

How do I determine the right price to pay a builder for a lot?

  • August 10 2013 - Mason
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Answers (2)

Profile picture for CallTheSisters
Compare what similar lots have sold for in the same general area.
  • August 10 2013
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I would say to check in the area for comparables, what ever has sold in the area or subdivision in the last 6 months would be ideal but in the last 12 months is OK. 
Important only if you are worried about resale, since almost no one likes to be in this predicament, upside down that is. Which could happen if you overpay for the lot and or the construction.

If it is unique, desirable, must have, not worried about resale or over paying. Then starting at a lower amount than anticipated, to give you room for negotiation.  Unless there is a risk of loosing the deal to a higher bidder. 

Beth the best of wishes on your lot buying!
  • August 10 2013
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