Which type of lot indicates that the development process has started?

Get more with Examzify Plus

Remove ads, unlock favorites, save progress, and access premium tools across devices.

FavoritesSave progressAd-free
From $9.99Learn more

Prepare for the CAIA Level I Exam with comprehensive questions and detailed explanations. Study strategically with customized quizzes tailored to each topic.

The designation of "Blue Top Lots" signifies that the development process has commenced. In real estate and land development terminology, Blue Top Lots refer to parcels where the preliminary work has been completed, typically including grading, utility installation, and other foundational aspects necessary for further construction. This can include the establishment of essential infrastructure that makes the lot ready for eventual building.

In contrast, Finished Lots indicate that development is complete and the lot is prepared for sale or occupancy, which is a further stage in the process compared to Blue Top Lots. Paper Lots generally reference plots that have been designated or planned for development in theory but have not yet seen any actual physical development or groundwork. Raw Land Lots are undeveloped pieces of land without any improvements or infrastructure in place, which clearly indicates that no development has started.

Thus, Blue Top Lots clearly indicate that the development process has begun, marking them as a key stage where work is both in progress and essential groundwork has been laid.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy