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Vacant Land is land that may be improved or developed, but is not currently in use and has no structures.
What is the meaning of vacant lot?
A vacant lot is a small area of land in a city or town that is not occupied or not being used.
Why do people buy vacant lots?
For starters, there are plenty of reasons to buy a parcel of land. If you buy a house, its probably so you can live in it; but with land, you could choose to build your own house, use the property as a long-term investment or even to start a business.
What is the meaning of vacant land?
PROPERTY. land that has no buildings on it and is not being used: a real-estate business specializing in the sale of vacant land.
What does vacant lot mean in real estate?
an area of land that is not built on, usually in a town or city, sometimes one that is available to buy or rent: The group plans to build 400 houses on vacant lots on the outskirts of the city. (Definition of vacant lot from the Cambridge Business English Dictionary Cambridge University Press)
BPO stands for Broker Price Opinion, which is a report prepared by a licensed real estate broker or agent to estimate the value of a property. In the context of land, a BPO form for land would be a specific document used by real estate professionals to evaluate the value of an individual parcel of land.
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