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Updated about 4 years ago on . Most recent reply
Buyer commitments in mini-subdivision prior to sub-dividing lots
Is it possible to provide some type of commitment/letter of intent to buyers interested in securing a lot prior to sub-dividing the plat? We are waiting for county approval of land disturbance on final revisions submitted by our civil engineer.
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Shawn Drumgo:
Is it possible to provide some type of commitment/letter of intent to buyers interested in securing a lot prior to sub-dividing the plat? We are waiting for county approval of land disturbance on final revisions submitted by our civil engineer.
Yes this would be a reservation agreement. Your attorney should have one they can detail to your project. I would not take any reservations until you know what your final costs are going to be.