Land Requirement

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1. 3 buildable lots, or any combination of dividable parcels that allow for the build of 3 homes
1. Utilities (electrical, water/sewer) available on site
2. Lot can be raw land that needs grading or tree work
3. Can consider lots that would require a septic system.
4. Lot must allow the Rosebud model to be built on it
2. Total project budget for land is $25-$75k for the 3 lots
3. Locations are such that 2 lots are located nearby or next to each other, and the third one is elsewhere
• This is to explore the market in at least 2 distinct locations
4. All lots are within a 1 hr driving radius of Maysville MO - which is our home base
5. Total sale price of each home = $190-200k depending on land cost
• Comps must be considered within the same block or development such that comps allow for the above sale price
• Comps should include 6 houses sold in the last year in the given location
6. Lot must accommodate 16’x48’ footprint of house + setbacks
7. For any offers, closing must be securable within 30 days of acceptance offer pending due diligence (checking in with building department etc for buildability)

Overview: looking to build 3 single family, colonial style, 2 floor with attached carport, 1000 square foot homes with a 16’x48’ footprint. Home model is called Rosebud. For more info on Open Source Ecology, see the Global Village Construction Set TED Talk.

Due Diligence

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1. Buildable lot? What is the zoning? Can the lot be subdivided?
2. Impact fees?
3. Local ordinances allow saltbox house? Is there a restrictive Home Owner’s Association preventing this style of build?
4. Does house with a 48x16 foot footprint fit including setback requirements?
5. Clear title? Is title report available from last seller?
6. Comps from last 6 months? Requires sale price of $166k of similar housnif there is no profit, assuming a $17k lot.
7. Is soil suitable for construction? Fill required? Flood plain? Soil test?
8. Survey available from last buyer? Are there any boundary conflicts?
9. Ectrical available?
1. Company?
2. Type - underground or overhead?
3. Cost (underground)?
10. Water/sewer available at lot?
11. Internet available?
12. Is there tree cover preventing solar panels on the roof from being installed?

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Upon doing the due diligence above, including meeting with Building Department to review the house design - we would close. The requirement in the offer is that closing is to occur within 30 days of signing the offer. This means that there is not clouded title and a rapid sale can be made. We are building in November, so we require fast turnaround on land acquisition.

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