The Real Estate Encyclopedia
Why Is The Accuracy Of The Lot Size Important?
Category - Home Buying Questions - Search & Offer FAQ's

The accuracy of the lot size is essential in both residential and commercial properties because it is an essential component of the total value of the property and may drastically improve in value over time.  If there is a discrepancy between the lot size quoted in the listing contract or deed and the actual lot size, the actual lot size found by the survey will prevail.  Other terms associated with lot size are:

       floor area ratio - or the ratio of the floor area to the land area on which the building sits.

       livability space ratio - requires a minimum square footage of non-vehicular outdoor area in a development for each square foot of total living area.

       front footage - the linear measurement of a property along the street line or water line, always given first when dimensions are stated (of a lot measures 100 x 200, then the first dimension given or 100 refers to the front footage.

       Setback - the amount of space required between the lot line and the building line.

 

 
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Home Buying Questions - Search & Offer FAQ's
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