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Somebody I know is selling a shed for $200,000+
(i.imgur.com)
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this post was submitted on 25 Oct 2023
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Terrible Estate Agent Photos
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Terrible photos listed by estate agents/realtors that are so bad they’re funny.
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I haven't seen anyone say this, so in case anyone doesn't know. If the land is worth 200K and has no dwelling, it's much harder to finance that. You either need a builder/developer loan with plans to build within a specific timeframe. Or, you need some other means to finance.
A bank won't give you a mortgage for land. Land, while having an intrinsic value is worthless to a bank. But land with a shed in which you can poop is worth something. No idea why, but that's at least one perspective.
Most often the case, depending on location/us state whatever system installed for pooping in that shed is a health code liability and therefore a financial burden.