However, if your property is in a platted subdivision or has previously been split, you would not qualify for a parcel split. The referral process ensures that the proposed subdivision plan sufficiently considers each authority’s interests in the land or assessment. To avoid substantial financial losses and unnecessary headaches, consider hiring an attorney to ensure that there are no restricting laws, regulations, or covenants that prohibit the subdivision of the property.ĭuring the approval process, your plat plan may be referred to other government authorities for further assessments and proposals for services like infrastructure, water, sewer, and safety. This preliminary plat determines whether your property is eligible for subdivision and is approved by the local city council. A plat is a map or a subdivision layout drawn by a land surveyor or engineer that identifies property boundaries, access right-of-ways, flood zones, easements, etc. The process of subdividing propertyīefore you start subdividing a parcel of land, you typically begin with a preliminary plat. Smaller parcels of land are more straightforward to subdivide than larger ones that may involve complex procedures and methods to achieve your subdivision goals. Furthermore, as stated earlier, subdividing plots of land into many pieces can benefit land developers looking to maximize their profits. Once land has been subdivided, a “title” is created for each new plot which can be sold separately and transferred. Likewise, developers can sometimes find this even more profitable than keeping the lot as one large parcel. When land is subdivided into multiple lots, each lot can be sold separately to one or more buyers. This method usually increases the value of the land. What is a subdivision?Ī subdivision development project is a legal process of dividing or splitting a large parcel of land into multiple plots for development, purchase, or transfer. Here are factors to consider when subdividing property. There are some caveats every investor needs to understand about subdividing and how it works so it can become part of their real estate investment portfolio. However, while a subdivision is profitable, it is not always easy to manage and can be expensive. Subdivision developments can be financially beneficial and pleasing to investors and potential homeowners. If you are a land developer, residential developer, personal investor, or construction company, there could be benefits to building subdivision development projects in residential and other areas. Real Estate is one of the greatest (if not best) investments a person could make.
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