I have a piece of land in FL mortgaged. Has anyone heard of leasing the land for someone to build a house on? Maybe something similar to what is done with mobile home parks or skyscrapers in cities...
2006-11-08 03:11:42 · 3 answers · asked by Brian B 1 in Business & Finance ➔ Renting & Real Estate
Its absolutely possible, but the question is whether or not there is a market for such a thing. Would YOU Lease a property to build your house when you know you could just go BUY a house and own it, or BUY land and build on it? It would mean you're always paying for the land even when its paid off, AND it means that when you try and sell your house, people are going to back off when they hear they wont own the land.
2006-11-08 03:18:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You are basically taking about converting freehold land into leasehold which is do-able. I am tempted to add that it may require approval of the state planning & zoning board...you might want to find out...
2006-11-08 03:43:54 · answer #2 · answered by boston857 5 · 0⤊ 0⤋
I do have to say that is something I have never heard of.
2006-11-08 03:15:16 · answer #3 · answered by cdh20002005 1 · 0⤊ 0⤋