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Yes ...

Posted by Jay J -Moderator on July 5th, 2001 10:48 AM
In reply to Consider lot size by Cindy Westbrook on July 4th, 2001 01:48 PM [Go to top of thread]

Hi jh (and Cindy),

Cindy is right on! My parent's neighbor sold his 1/2 acre lot separate from the home. Someone bought it w/o having the lot surveyed for well and septic. This should be done BEFORE the lot is bought and BEFORE any drilling or testing begins!

What ended up happening is she bought the lot and is now stuck w/it as unbuildable. No matter how you 'sliced' the lot, there was no way the well and septic and home could conincide w/each other. Too bad. So, what can she do w/the lot??? Well, she paid $17,000 for it and won't get anything near her $$$ back. The only people that might want it is the family that bought the home (that originally had the log), or my parents. IF my parents were to buy it, then THEY could build on it because (the good news is) it butts up against another 1/2 acre lot. (How nice!) It's my understanding that my parents offered $5,000 and the other neighbor offered about the same. Right now, all 3 parties are 'negotiating'. Since my folks can do more w/it, they'll pay more. The other neighbor could, at best, pave it or use it for gardening.

Jay J -Moderator

PS: The 'situation' I described above is a perfect example why it's considered money well spent to hire a Real Estate Attorney when you're looking to buy land and/or a home. Sure, one can take their chances but as with a lot of things in life, it's a gamble. Heck, the Lot Owner got his $$$ ...

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