Common Contracts
1 similar Lot Purchase Agreement contracts
Lot Purchase Agreements – Not Your Typical Agreement of SaleLot Purchase Agreement • June 13th, 2021
In the last ten years, we have seen a substantial reduction in the number of local and regional home builders. This has led to a reduction in the number of parties who are available and able to purchase approved lots for new homes. I am not talking about buyers who simply “tie-up” property to “flip it” to make a quick buck. I am talking about buyers who have the ability to build homes on the building lots. As a result, there is less opportunity for landowners to sell approved building lots. These landowners are now faced with the decision, after taking their land through the approval/permitting process, to either (a) sell approved building lots at a discount, or (b) install the site improvements themselves and then sell approved and improved building lots for full value to national or regional home builders. The negotiation of a lot purchase agreement to sell approved and improved building lots is much different than negotiating an agreement of sale to sell either unapproved land or ap
