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Updated about 5 years ago on . Most recent reply
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What type of loan to sub divide acre lot into separate parcels?
I currently have a house on a one acre lot in San Luis Obispo, CA County that i'm interested in dividing into five separate parcels(4 empty parcels 6,000-7,000 sq feet & 1 parcel with the existing house). My goal is likely to sell everything off after the County has recorded the new map.
As a very rough estimate, I'm guessing it could cost me $150,000-$300,000 to get to a stage where the County of SLO would record the map showing 5 separate lots. However, I also understand the process from start to finish can take between 1-3 years. What types of loans would you recommend I seek out given the range in cost and time frame to completion? Any other opinions or thoughts are greatly appreciated as this is a new type of project for me, thank you!