Real Estate Glossary | What is Tear-Down Condition??

Q: What is Tear-Down Condition?

A tear-down condition refers to a property that is in such poor condition that it would be more cost-effective to demolish it and start from scratch rather than trying to renovate or repair it. A property can be in a tear-down condition due to various factors, such as age, neglect, or damage from natural disasters. Tear-down properties are often purchased as investments by developers or builders who plan to construct new buildings on the property.

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