Purchasing Property with Driveway Encroaching on Neighbor
I have a duplex under contract that is scheduled to close in 5 days. Everything was going along smoothly until this morning when I received the sellers’ disclosures which noted that the land owner next Canada Goose Online door believes one of the driveways is encroaching on his raw land.
canada goose deals In looking at the Zillow aerial view it appears that the cheap Canada Goose neighbor has a case: canada goose deals
cheap Canada Goose The current owner didn’t install the driveway and it wasn’t disclosed to canada goose clearance sale him that this might be an encroachment issue when he bought. He found out when the owner of the raw land to the South sent him a letter and asked for $8 9k for an easement or title, not sure which. cheap Canada Goose
Canada Goose online They never reached an agreement and the issue is still floating out there. Canada Goose online
canadian goose jacket Here’s an added complication. I signed on Canada Goose online off on all canada goose factory sale contingencies yesterday afternoon cheap canada goose uk and this seller disclosure magically appears in my inbox this morning. It might have been my own realtors fault for not forwarding it canada goose coats to me but she’s being a little vague about it. So if I decide to back out of this deal the seller might try to keep my $2k deposit and we might end up in arbitration. canadian goose jacket
The way I see it, it might cost $4 5k to demolish the driveway and that’s also the fair market value of the entire vacant lot to the South, not just the strip that the driveway sits on. If I proceed with this deal, does anybody see other costs/liabilities or risks that might canada goose uk shop go buy canada goose jacket beyond being required to demolish the Canada Goose Jackets driveway?
It sure feels like the seller wastrying to offload this problem and sneak it past me. Just for additional context, here are some other facts:
Canada Goose Parka 1. The seller bought 6 months ago. Now wants to sell claiming it was too hard to manage long distance. Canada Goose Parka
2. The seller originally wanted all contingencies canada goose black friday sale signed off in 10 buy canada goose jacket cheap days, but we got it pushed back to 15 days.
buy canada goose jacket cheap 3. The seller wanted a 3% deposit instead of the customary $500 or $1,000 for this area. buy canada goose jacket cheap
Canada Goose Outlet 4. They have generally dragged their feet throughout this transaction, but now that I signed off on all contingencies, I get this surprise in my inbox one day later. Canada Goose Outlet
Canada Goose Jackets What do you think? Move forward with additional pricenegotiation? Pull out? What additional riskswould I be taking on if I bought this place?two things you can do here, Canada Goose Jackets
1. ask for a survey to either be completed or one that was previously completed. On a small parcel like that it should not cost too canada goose much. and delay the contract until close.
canada goose coats 2. If they do not agree to the survey, I would walk away and claim that you should get your earnest money back. You should get it back because “time canadian goose jacket is of the essence” in EVERY contract no matter if the language is in it. I am no attorney so check your states laws, but in my state. EVERYTHING that is adverse to the buyer, such as enroaching driveways, needs to be disclosed to the buyer in a timely manner. canada goose coats
canada goose clearance sale Is the liability ofan encroaching driveway tied to the property, or tied to the person who uk canada goose outlet originally had the drive way installed? Could the new owner simply not use the driveway and say it’s not his problem, he only purchased the concrete on his lot? canada goose clearance sale
canada goose coats on sale Basically, the way I’m thinking, if the previous owner dumped a bunch of garbage on the adjacent lot, the lot owner wouldn’t have a claim against the new owner to clean it up. In this case, the garbage just happened to be a bunch of concrete. The problem I see is that my plan was to do a cash out refi uk canada goose to free up funds for Canada Goose Coats On Sale more acquisitions. If a lender refuses to lend not only will I not be able to cash out, but my ability to sell in the futureis limited Canada Goose Parka to cash only buyers. That’s assuming the local CCR’s and county ordinances allow me to combine the two parcels. canada goose coats on sale
Canada Goose sale Therefore, the only guaranteedoption to clear title on canada goose outlet this property is to demolish the driveway, so I need to figure out if that’s something I want to deal with. I wasn’t expecting $5k of capex up front and I’m not sure I can squeeze the seller any further. Canada Goose sale
Thanks for the thoughtful responses.
buy canada goose jacket I think the fact canada goose uk outlet that the driveway is there is almost irrelevant. I would saw cut at the property line and put a chalk joint in. I would tell a bank that its not your driveway, because theoretically its not. But “we’re using it because the owner hasn’t said not to.” buy canada goose jacket
canada goose At the end of the day its not your driveway, If it is on someone Canada Goose Outlet else property, canada goose clearance i wouldn’t even break it up. The only thing you can do is saw cut the concrete at the property line. If you did break it, you may end up in a lawsuit for breaking it. canada goose
canada goose store I would look at it for what it is. My neighbors driveway. Negotiate concrete and saw cut money from the seller. Install the car port in the front. When the owner of the adjacent property comes, he can http://www.mycanadagoosejacket.org do what he wants with it. canada goose store
canada goose black friday sale I bought a property with a fence in the wrong location. I know it when i canada goose coats on sale bought the property. My neighbor never say anything about it. He sold the house last year. He never moved the fence, he didn’t want to spend the money. The fact that i didn’t argue with him satisfied his ego. canada goose black friday sale
We are professional investors, it is our job to deal with and correct these types of issues. That is why we canbuy at a discount and sell at retail. (or barrow at retail numbers.
I hope you don’t pass Canada Goose sale on this deal for this issue. Speak with your attorney about what Ihave written here. I think he may agree.