First thing you need to do is to determine if the lot can be built and if there are any restrictions. Your construction office and planning board office should be able to tell you the setback requirements, water/sewer connection availability, and what can be built there (commercial or residential). Once you have determined the lot can be built, decide whether or not you want to build and sell it or want to sell just the land. Most builders don't want to tie up their money in ground and most banks won't finance ground purchases without a construction project being proposed at the same time. I'd recommend offering the land with owner financing for the ground and advertise it to builders in the area. This would allow you to sell the lot and give the builder a fixed land cost so they can advertise it to the end buyer with a home. Consult a real estate attorney such as John Kosylo in Washington Twp (856-228-9455) for the contract and for advice on working with the planning board.
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