One of my realtors that I work with is offering me some possible free lots located in town. We don't know how many, or where they are located, but he believes that there is hand full of them. The story goes like this, the city is going to be giving them away. Apparently they've lost a ton of money on the lots from taxes and need to get rid of them so that they can quit losing money. But, in order for someone to get them they have to put up a home on the site so that they can make money back in taxes. They haven't decided exactly what the requirements will be but we are pretty sure that they will have to be SFR's, and they may allow prefabs. They are also thinking about selling the lots at market value, and then when house is built they will give the money back, they'll hold it is escrow. This way they know that the property won't sit untouched for a while. I'm looking for some ideas on what I should do, and see if there is anyone else that has had a deal like this and tell me what they did. Thank you for your comments. Good luck everyone and keep up the great work!
Posted on: Sun, 05/18/2008 - 01:37