Real Estate Buyer FAQ's

How often is the SearchLots.com database updated?

What is a unit number?

What unit numbers have gulf access lots?

What unit numbers have fresh water access lots?

How is Cape Coral laid out in terms of roads?

What is the difference between market value and appraised value of a lot?

What's the difference between lots?

What are the fees and costs involved in selling my lot?

What are assessments? Will I have to pay them?

What are my financing options?

Q: How often is the SearchLots.com database updated?

A: Daily

Q: What is a unit number?

A: Cape Coral is divided into a grid called unit numbers. You can use the unit numbers to narrow down your search to a small defined area. Learn More about Cape Coral Units and Neighborhoods

Q: What unit numbers have gulf access lots?

A: Units 1 - 15, 19 - 22, 26, 44, 58 - 61, 64, 65, 67, 69 - 77, 81 - 83, 89, 90, 92, 93, 96.

Q: What unit numbers have fresh water access lots?

A: Units 16 - 18, 23 - 25, 27 - 43, 45 - 57, 62, 63, 66, 68, 80, 84 - 88, 91, 94, 95, 97, 98.

Q: How is Cape Coral laid out in terms of roads?

A: Cape Coral is divided into four quadrants. The center of the Cape is the intersection at Santa Barbara Blvd and Hancock Bridge Pkwy. Santa Barbara is the east/west dividing street of the City. The north/south divider is Hancock Bridge Pkwy until Santa Barbara and then it's Embers Pkwy.

Roads in Cape Coral that run east/west are named "Parkway", "Street", "Terrace", or "Lane". Roads that run north/south are named "Boulevard", "Court", "Place", or "Avenue".

As you move away from the center of the city, the street numbers and addresses increase. The first part of an address corresponds with the nearest intersecting street.

Q: What is the difference between market value and appraised value of a lot?

A: The appraised value of a lot is a certified appraiser's opinion of the worth of a lot at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300.

Q: What's the difference between lots?

A: Gulf Access Lots: There are two different types of gulf access lots available in Cape Coral. One is called direct or sailboat access. This means there are no bridges between you and the River. Owning a direct access lot gives you the freedom of having a boat as tall as you want with the canal allowing for deeper draft boat hulls.

The other type of gulf access lot is called restricted access and means that there is a bridge between your land and the River. You are restricted on the height of your boat since the bridges in Cape Coral range between an 8 and 11 foot clearance.

Freshwater Lots: Freshwater canals lead to other freshwater canals and lakes within the city, but you cannot travel by boat from freshwater to gulf access canals without pulling your boat out of the water. People purchasing freshwater properties enjoy boating, fishing, wildlife, and fantastic views. The purchase price of a freshwater lot is generally less expensive then a gulf access lot.

Dry Lot/Off Water Lots: Just as the name indicates, a dry lot does not have direct access to either the fresh water canals or the gulf access canals. The purchase price of a dry lot is typically less expensive than both the freshwater and gulf access lots.

Q: What are the fees and costs involved in selling my lot?

A: The approximate fee's and transaction costs related with buying a lot are:

• Transaction Process Fee: $195
• Settlement fee or Closing Fee : $0-150
• Postage and Handling Fee's: $40 - $95
• Financing/Bank Fee's: These fee's are dependent upon the type of financing secured for buying the lot. Please refer to the "Good Faith Estimate" from the lender.

Q: What are assessments? Will I have to pay them?

A: Assessments are special taxes or fees imposed by city, township, county or state government offices on land owners to pay for public improvements that would benefit the lot owners, such as for the installation of water, sewer or irrigation infrastructure to service the lot.

Since many areas in Lee County, specifically Cape Coral and Lehigh Acres, are relatively new cities, not all sections have had these services installed.

So, yes, some lots are subject to possible future assessments which you, as the lot owner, would be responsible for paying. Be sure to investigate this while researching a possible lot to buy. We would be happy to discuss this with you in detail.

Q: What are my financing options?

A:There are dozens of ways to finance the purchase of a lot or land... from paying cash, to securing financing, to a 1031 Exchange. We would be happy to discuss any of these options with you, and we have relationships with many excellent Mortgage Brokers we would be happy to refer you to.