More than we can handle (Hays: mortgage, loan, house)

[BonSoo]

Hi everyone,
This is my first post here, hope I do it ok!
We bought in Northern Hays County, a really large arcreage lot with our house on it. No HOA, no city jurisdiction, nothing essentially, and the reality we are realizing now is that its more land than we can handle, we havent even got a tractor!! When we bought we did notice the words "lot May be subdivided" noted everywhere. The thing is, how on earth does one do this? Are there companies which do it for you? Realtors? We are not trying to get rich off this, just trying to get our lot a bit more manageble. We have kids so there isnt time enough in the day to try this ourselves.. and we LOVE the location, and really dont want to move. Wouldnt the county really appreciate the extra taxes coming in? We figure we could come up with four lots and still have plenty left for us, all lots about 5 acres..

Any insight would really help us, PM us if you are in the business and have any info you could share,

Thanks
Kerri

[mrsness299]

Hello,

I work in the mortgage industry in Michigan but the rules may be similar. You need to contact your mortgage company and let them know you would like to divide your property. Here, it is referred to as a partial release. There are many variables involved, including the type of loan that you have and the investor but the lender should be able to let you know their procedures.

Hope this helps. Good Luck!