New Residential Construction The process of entitling lots may take more or less than 5 years and at the same time, it can cost you significant sum of money. It can already run you at around 100000 already for the cost of parcel maps for 5 lots or less. On the other hand, tract maps for greater than 5 maps is going to cost you half a million. The potential size and the number of lots are determined by health department regulations, zoning and general plan as well as biology. In this cost, included are processing, regulatory fees, engineering and several other studies and reports. Studies and reports as well include storm water treatment, approval cost, archeology and anthropology, soils, biology, traffic and noise. As soon as the map is approved and recorded, there are various fees that need to be settled including but not limited to potential greenhouse gas studies, on and off site mitigation land, school fees, recreation and park fees, physical secondary access, annual bonding fees, fire fees and drainage and retention basins. Then after, politics will come to play when you try to get approvals needed from city councils, county boards as well as planning commissions. The level of support or opposition is going to affect the hearing completion. As a matter of fact, it can be done in short as 4 months or even take years and could cost to over millions of dollars. For such, there are 3 options that property owners have to consider which include: Number 1. Sale and entitlement of the property as is – in this option, it is bringing the lowest price but costs the least and also, requires shortest time for disposal of property. On rare circumstances, the land has higher value when it’s not titled.
Questions About Builders You Must Know the Answers To
Number 2. Enter into long term agreement – for this option, an arrangement is made with home builder who incurred the expense of processing the tract map. This option as a matter of fact is more preferred by many but the process can take up to 5 years. The buyer also has to periodically release nonrefundable deposits to the seller after approving contingencies. For the escrow closing, this normally takes place after the final or tentative map approval.
Questions About Builders You Must Know the Answers To
Number 3. The owner will incur the cost of entitlement – majority of the process is like the second option however, the difference is that the owner is bearing all expenses and has better control of the mapping. As for the ramifications for every choice, it should be done carefully and be weighed before you come up to a decision, which is also crucial in an effort to avoid getting into problems down the road.

Comments are closed.

car & driver