Sources of Building Lots

The best and easiest way to find a building lot is to contact a realtor who works in your area of interest. Many times they will know of developers who are selling lots to builders or can check the multiple listing for what’s available. Another good source is newspaper classifieds under ‘‘building lots.’’ If you’ve exhausted these sources, you’ll need to get a little more aggressive and drive around your area of interest to look for possible lots.
Sometimes, homeowners will buy a double lot when they build and keep one for an investment or for a family member to build on in the future. But in the ebb and flow of human events, plans and circumstances can change quickly. A vacant lot that’s not for sale today may suddenly be for sale tomorrow or when a serious buyer calls offering money at an opportune time.
Randall and Sharon discovered this when they couldn’t find a lot for sale in the area they lived in. What few lots were available were tied up by builders for spec or custom home jobs, and they weren’t interested in selling.
As a last resort, Sharon started driving through neighborhoods and areas they liked, looking for vacant lots. She made a list of those that looked interesting and got the names and addresses of the owners from the county recorder’s office. It wasn’t long before she had a list of eight possibilities.
Three of the lot owners lived out of state, and from their addresses on the tax records, Sharon was able to get their phone numbers. Her next step was to contact the owners on the list and see if any were interested in selling.
Five local lot owners were not interested, but one of the out-ofstate owners expressed interest. The couple had bought the lot a few years ago, but a job transfer had changed their plans, so they kept the lot as an investment. But now that their son was going to a local university, they had been thinking of selling.
Ron and Sharon offered the lot owners the appraised value for their lot and agreed to split the cost of a certified appraisal. The sellers accepted the offer and the deal closed three weeks later. This proactive approach often works because many owners don’t think of selling until someone contacts them and starts the wheels spinning.