When creating a CPR, you are considered a developer. There are specific laws that govern developers and you'll want to know about that before marketing any property for sale. You'll need to hire a good attorney, a surveyor, and probably an architect to draw AS-BUILT's. The cost of a CPR starts around $10,000-$12,000 and take somewhere around 4 months to complete. Ask your attorney for more info on their time frame. Each situation is different and rates do change. But they can do it all.
CPR's are very common on Kauai and make up almost 70% of our inventory. It is a very good way to sell off a portion of a large lot and capitalize on the lots density. If you are allowed 3 houses, you could theoretically CPR it into 3 pieces. BUT, there are further County and State limitations that affect CPR's so you should ask a Kauai attorney about that if you are inclined, ask me for a list of qualified real estate attorneys. For instance, if the lot is less than 20,000 sq ft., than you are only allowed one waste water system (septic, cesspool, etc.) which are engineered for 5 bedrooms, max. That means if you have 2 dwellings, one of them can be a 3 bedroom house, the other can only be a 2 bedroom house.
It's important that when purchasing a house that is on a CPR'd lot that you use a Hawaii lender. The mainland lenders will not finance them. Unfortunately they haven't been able to differentiate them from actual condo complexes and when you tell them there'e no AOAO, maintenance agreement or annual minutes/meetings, nor common insurance, they freak out. Anyway, all Hawaii lenders will fund them so no worries on that.
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