{"id":4669,"date":"2018-02-21T02:52:02","date_gmt":"2018-02-21T02:52:02","guid":{"rendered":"http:\/\/www.realestatewords.com\/?page_id=4669"},"modified":"2023-12-27T11:58:53","modified_gmt":"2023-12-27T11:58:53","slug":"key-lot","status":"publish","type":"page","link":"https:\/\/www.realestatewords.com\/key-lot\/","title":{"rendered":"Key Lot"},"content":{"rendered":"

Key Lot Definition<\/h2>\n

A key lot<\/strong> is a lot one side of which is adjacent to the rear of a reversed corner lot. The front side of the key lot it a continuation of the side of the corner lot.\u00a0 As a result, one side of a key lot can border multiple neighbor lots. A key lot can have either added value or diminished value\u2014depending on its location.<\/p>\n

Explanation<\/h2>\n

In modern housing developments, streets are rarely laid out in a checkerboard pattern. Instead, when streets wind through a development in an irregular pattern, an occasional lot may border several adjacent lots. When several other homes back up to such a lot, the home can have a landlocked feel. Consequently, the land has a lower value. This type of lot is referred to as a key lot.<\/p>\n

On the other hand, the location of some lots can add to their value. If a buyer needs a lot because of its strategic location to another property, that lot becomes more valuable than it would be on a stand-alone basis.<\/p>\n

As an example, if an empty lot is located between a property owner\u2019s home and their lakefront lot, the empty lot would become a key lot. Its value to the property owner would be significantly more than its value as a stand-alone lot.<\/p>\n

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