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Updated over 7 years ago on . Most recent reply

User Stats

127
Posts
23
Votes
Trevor S Foster
  • Gaithersburg, MD
23
Votes |
127
Posts

Advice on raw land from experienced developers/lawyers

Trevor S Foster
  • Gaithersburg, MD
Posted

I've made post on the before and the more info I get the more questions I get. I'm in serious need of advice from experienced land developers and advice from lawyers. 

Quick back story: My mother owns land free and clear. It was inherited from my grandparents who've built property on the land the kept as well as my aunt. 

My mother owns 5 or so acres, which was appraised at 130k.  ZONE 1 for residential property to be built.

Questions:

1) What legal advice does anyone have on if there's a "land assignment contract" that myself & mother can use to give me the right to find a buyer, develop a plan to have a property built on the land?

Basically I'd like to be able to legally make decisions on what happens with the land. 

2) Are there anyways to increase the value of the property?

(I.E. cut down trees to open up the land more or whatever) 

Also this land does have a good amount of trees on it, would it be possible to sell those standing trees to a mill or anything? I thought about that as a avenue fund the developing of the land to raise value.

3) If all were to go right and I can modify the Land to increase value, is it possible to have the land "re-zoned" to instead of build one home, we can now build 3?

My mother has already given me the ok to do whatever I can to either sell the property or in the best case build homes on the land and then sell the homes. 

My first step is to make this all legal, where she will still be owner but give me the right to do as I please. I don't know if that would be an assignment contract.

This is located in upper Marlboro Maryland. Prince George's county.

Please Please Please any advice from someone who has acquired land, developed land or built property on land would be greatly appreciated. 

***FYI***

I've worked for a lumber company for 3 years now. We supply all building professionals with the materials they need. From the ground to the roof. Everything except appliances. I definitely feel like this is a negotiation tool for if we do decide to build or if we do decide to sell. I can maybe enter into a partnership with a buyer or private lender. The ability to get all materials at lower market cost. 

Anyone have advice or tips on this idea?

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