Tip: Since you will have to check with the local governing board it's best to find a neighborhood you like and then call a real estate broker and ask about the neighborhood. Better than falling in love with a specific lot only to be disappointed. Call a local expert to help you sort through the neighborhoods. If you like historical neighborhoods ask the agent to send you a copy of the rules and regulations.
Yes you can with a demolition permit. Just be aware that depending on the jurisdiction, you may be required to have environmental evaluations completed for asbestos, buried oil tanks, lead, and other types of contaminants. Sometimes a tear down needs a better inspection than a move-in-condition home.
Yes, you typically can unless zoning has changed, however, you will want to make sure the price of the property reflects lower than market value to offset costs to tear down and haul away the existing home.
Absolutely....but it's important to remember that the tear down costs can inflate the total expense of the project quickly. It's sometimes best to consider a vacant lot new construction and invest the amount saved in the construction of the new home. Just keeping it real! Bill