I was thinking of investing in buying a land. I found one land that is weirdly too cheap($28k). The houses built around have the value estimated around ($300k). Location Ohio, USA.
The Ad says:
HOA is not active, but building plans must be approved by seller. No fees. Seller is motivated. Listing Agent related to seller. Zoned R1B-Residential Single Family.
My question is, will the seller expect me to provide house plans for the house that will cost me around $300k, or at least the value will need to be that price? Or what is the reason for the low price?