Great lot in non-rental community for sale in Sand Cliffs

[SandCliffs]

Please take a look at this beautiful lot in non-rental gated community approximately 300 feet from the beach and make us an offer. Lot is 93 feet wide by 88 feet deep. Priced to sell at $649,900, which is $50,000 below market value. Seller financing available. See more info at:

http://www.sandcliffsonthegulf.com or call 866-655-8470

Our MLS link is:

http://ecarmls.com/EmeraldReports/ListitLib/report_builder.aspx?category=5&r=iF%60%26%7BIA6A%60%2C8%256uh%5B8nV+hwvtuwx&m=eoMpTZAArsvuo&footer=5749535369&maillog_id=6403767

 

[SandCliffs]

PS: This is priced below market for the area. The two vacant lots next door each sold for $699,900.

 

[BrettMan]

What are the build-out requirements in terms of timing, size, structure type, floors, etc.?

 

[SandCliffs]

What are the build-out requirements in terms of timing, size, structure type, floors, etc.?

The house must be no less than 1150 square feet. There are no timing requirements requiring you to build on the lot within a set amount of time. There is, however, a requirement that once construction on a building is started, it must be completed within 8 months. Any house on the lots that are not beachfront (this one included) must be no higher than 30 feet. (I do not think there are any beachfront lots left in this subdivision that are still vacant, but those lots are restricted to structures no higher than 18.5 feet, which allows for good ocean views for the houses behind them.)

The covenants do not specify structure type, but plans do have to be submitted to the Architectural Review Board. They seem to have been pretty flexible, because if you visit the subdivision, you will see a diversity of styles, sizes and building types.

Covenants also stipulate that houses may not be offered as a short term rental unit.

If you would like a complete copy of the covenants, contact me at 866-655-8470 and I will send them to you.

 

[SandCliffs]

My posts have been edited to add more info and for clarification.

 

[SandCliffs]

Price reduction: Price has been reduced to $649,900. This is $50,000 below market value. Seller financing available.

 

[TinyTrailerTandemDogTrot]

Price reduction: Price has been reduced to $649,900. This is $50,000 below market value. Seller financing available.

Maybe 'market value' isn't market value?

 

[SandCliffs]

Maybe 'market value' isn't market value?

One way to gauge the market value of real estate is by the most recent comparable sales, which is what I have done in this case. This is also one of the ways appraisers figure the value of property, and is a valid method of determining value.

Thanks for keeping the thread alive for me, and I am happy to respond to any other questions you may have.