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$500k for an unbuildable lot?

 
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balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Mon Feb 17, 2014 6:09 pm GMT    Post subject: $500k for an unbuildable lot? Reply with quote

Why would anyone buy a lot like this? It's unbuildable and the structure unsalvagable. I find that surprising on .7 acres! But of what use is it to own it then?
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admin
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Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston

PostPosted: Mon Feb 17, 2014 6:16 pm GMT    Post subject: Reply with quote

Are they just covering their behinds with the disclosure wording? They say it "may not be" salvageable or buildable, not that it definitely isn't.

I'm curious as to how it's a short sale when they are asking $100K / 25% above what it sold for last.

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