Wholesale Deal in VA Beach

[Carita Yeager]

I just put a contract on a 4/2.5 2200sqft home.  It also has a separate lot that is almost a full acre - zoned for single family res. or multi-family res.  I'm debating how to market this because, I could possibly sell the home to an end buyer for what I have it under contract for and then sell the land separately.   

First question: my contract is for both the land and the house, can I sell just the house using transactional funding?

Second question: land values varrie dramatically throughout VA Beach, nothing has sold recently near this lot, so I'm wondering is there a formula for determining market value i.e. I think I read somewhere that most builders will pay approx. 30% the value of the new home.

Any thoughts or advice would be greatly appreciated.

Thanks. 

Carita

[Duane Ortega]

@Carita Yeager

Transactional funding is used for buying property vs. selling and then selling the same property to another person/entity on the same day.  Given this, do you mean can you buy (vs. sell) both the land and the house using transactional funding?  Answer is yes.  Otherwise, please clarify the question.