Neighbor’s plan to build ‘McMansion’ could fail

Lot subdivision is no easy task

Editor's note: Robert Bruss is temporarily away and will return next week. The following column from Bruss' "Best of" collection first appeared Sunday, June 25, 2006. DEAR BOB: I own a two-acre lot in an area of mostly one-acre lots. A neighbor wants to buy a half acre from me so he can build what I call a "McMansion." He needs a larger lot to accommodate the size home he and his wife want to build. We don't mind because it won't be close to our house and having a highly valued house next to ours should enhance our home's market value. However, we don't know how to value a half-acre lot where there are no lots for sale. Also, what legal steps must be followed to deed a half acre? --Walter H. DEAR WALTER: I suggest you retain an appraiser and a real estate attorney. If you proceed with the half-acre lot sale, be sure to add your appraisal and legal costs to the sale price of the property. Purchase Bob Bruss reports online. As you will discover, subdividing a lot in a...