What are Engineering plans worth?

[Mark Davis]

My brother and I looked at a property a bit ago. It was an overgrown end lot with a old SF house with minor fire damage After seeing it, we looked for the owner. They had purchased the property 2 years ago for 58,000. The neighbor hood is a street of twins in the 185-210k range. I find the address. Go in. Say "hi, is this the company that owns xx alpha street ?" They say yes I say I am interested in buying it They say Do You realize that property is under development? Would you be interested in that? I say. Well, yeah!! So they bring out engineering plans that show they are splitting the lot into 3 lots. A 2 unit twin and a single Each with its own garage. They are going to the township tomorrow to get approval for the subdivision They said the wanted 50k per lot which include the engineering plans and township approval The plan calls for a complete scrape of the lot Question is this What are the engineering plans and township approval worth?

[Chris Seveney]

Mark Davis - the same as any confirming lot in the area.