TromboneAl
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 30, 2006
- Messages
- 12,880
The lot next to ours is about to go on the market.
It's empty and looks like this (our property extends a ways into the woods):
We would like to purchase it simply to keep someone else from building a house on it. It sounds like it would cost around $150,000.
However, it's not clear that it's a buildable lot. If it isn't there's no point in our buying it.
Does the seller likely to determine/specify whether it's buildable?
The seller may figure that she has us over a barrel.
If it is buildable, I figure the only downside would be if I end up paying too much for it. I would be able to sell it if/when we move.
We can afford it, and I think I would take the $150,000 from one of our Roths so as to avoid a big tax bill.
Any tips on how to approach this?
It's empty and looks like this (our property extends a ways into the woods):
We would like to purchase it simply to keep someone else from building a house on it. It sounds like it would cost around $150,000.
However, it's not clear that it's a buildable lot. If it isn't there's no point in our buying it.
Does the seller likely to determine/specify whether it's buildable?
The seller may figure that she has us over a barrel.
If it is buildable, I figure the only downside would be if I end up paying too much for it. I would be able to sell it if/when we move.
We can afford it, and I think I would take the $150,000 from one of our Roths so as to avoid a big tax bill.
Any tips on how to approach this?