subject: Methods On How To Successfully Subdivide A Property [print this page] There are individuals who make money from subdividing and developing real estate properties. Well, this may seem so complicated to perform but it can be done effortlessly by following these tips:
Obtain The Property
Essentially, you cannot subdivide or sell a piece of land if you are not the lawful owner of a property. Maybe, you already purchased and acquired a parcel of land you want to develop or you have found the property that you want to purchase. Prior to the subdivision of the land, you need to procure the land free and clear.
Make Inquiries About The Zoning Ordinances In Your Locality
Investigate and find out the county records to know and understand the existing zoning ordinances in your district and get acquainted with the city utilities. Consult a title and abstract company to perform a rigorous title search of the property, in case you do not own yet the property. This will give you information about the recent condition of the property. Besides, this will help you determine if there are liens filed against the land. Working with a title and abstract company let you to validate first the title before you purchase the estate.
Survey The Land
It is essential that you survey first the perimeters and boundaries of your property before subdividing it. A preliminary survey is done as a basic step of your buying process, which will be executed by a professional land surveyor. At this point, the surveyor pays particular attention to their findings, dimensions and measurements and compares it to the existing county records to find the blue line survey that will give an on the record description of your property. In case you already obtained the property, you have to survey only the segment of the land you would like to subdivide from the rest of the property you possess.
Spot The Division
Choose how you want your property to be subdivided. If you want to divide the whole piece of land into different lots, you need to seek for the service of land surveyor all over again. To make the measurements, you need to consider the individual lot sizes. You have to decide where the streets would be situated and how much space you want to divide each plot. Additionally, give an area for right of way, utility easements, drainage areas or park areas.
Plat The Property
After you and your land surveyor subdivided the property, you need to plat the property once you have completed the development plan of your estate showing all the subdivided parcel of land. Subsequently, file the plat in the county tax office.
This procedure is also a manner of informing the tax office that the land is being developed and will be modified from being taxed as acreage to individual plots assessments in the forthcoming years.
Sell The Subdivided Property
Once you finished the previous steps, you can now begin vending parts of your real estate. A title company can help you out with the legal paperwork and real estate agent can assist you in marketing the property.
