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Updated over 8 years ago,

User Stats

11
Posts
0
Votes
Carita Yeager
  • Investor
  • Virginia Beach, VA
0
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11
Posts

Wholesale Deal in VA Beach

Carita Yeager
  • Investor
  • Virginia Beach, VA
Posted

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

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