Going to pull the trigger on a $300K property in a HOA (site condo - technically) subdivision. Site condos are just normal neighborhood houses but in order to start the neighborhood build quicker the land is somewhat shared. Not important.
I'm good with the HOA and fees, building requirements, but not sure what i don't know. The property is about .4 of an acre. No restrictions on the builder but plans have to approved by HOA. There's a view of Lake MI and there are all kinds of "distance from curbs" that need to be adhered too. Once I start building, I have 12 months to complete. The sub will be about 25 houses total (1/2 built now) ... nice pool and tennis court on it ... I imagine at the end I'll have a fair amount of $ in to it.
I thought I would have a lawyer friend review the purchase documents vs. getting a real estate agent. Not sure what a real estate agent brings in terms of value vs. an attorney that is familiar (not his direct expertise) property purchases? I also thought that might help negotiate a better deal on the lot if there was two agents to pay for.
Any thoughts, recommendations, are appreciated.
