I was told that splitting two parcels, that were once separate, is just as easy as combining. They just bring back the old 'specs' and un-do the combining. Just un-check a few boxes.
Splitting something that was never split before is an entirely different process than combining or un-combining two lots in an already surveyed sub-division. That indeed takes a survey, etc.
I would buy it for the simple reason know one else can do something there. It also would be a plus to have the acreage to increase your value of your place.
And the only way not to sound desperate is to be willing to walk away.
If I were in the area, I would be sorely tempted to buy that lot, get it approved for a half-way house or methadone clinic and then see how much Al was willing to pay to take it off my hands.
But I am absolutely not willing to walk away.
Note that this lot is a few hundred feet from the Pacific ocean. No view, but close to the beach.
I'm wondering whether a savvy real estate agent would be able to help me get a lower price. If it's $100,000, it would cost me $3K, right? Maybe an agent would be able to negotiate $3K off the price.
But I am absolutely not willing to walk away.
.. others might be willing to pay $150K or more, which would mean you need to act fast and offer $150K, or close to it, and use the research to convince the seller that the market won't support $150K, even if it will. And you can never account for people with more money than sense; there might be people who would buy the land, then be shocked what they have to pay to develop it before they build on it!
...the owner (Sheila) has signed a listing agreement for $200,000..
The planner said a person would need to apply for a permit to actually determine, the size of the house and location of the septic on the lot.
This came in from the real estate agent a few minutes ago:
Hello Al,
I just wanted to let you know that the owner (Sheila) has signed a listing agreement for $200,000..
In the next day or so, I will put the listing on MLS.
I did not get an affirmative response from county planning as to weather the lot is buildable or not. The planner said a person would need to apply for a permit to actually determine, the size of the house and location of the septic on the lot.
I more or less thought this was the situation. I know Shelia really wants to sell the lot. Please let me know if you have any questions.
Karen
My reply:
Thanks, Karen,
We're going to the planning department tomorrow. I might put in a lower offer in a day or so. It could save you and Sheila a lot of hassle and money, and I could pay cash.
Al
If it's not buildable you can get out the popcorn and watch the show. After a year or two, the seller will give up and you can make an offer then. If it is buildable, the finished house should sell for around $800k to make $200k for the raw lot a reasonable price to pay. Maybe more if the land development costs are very high.
That's encouraging.
I do think they're trying to take advantage of our desire to not have a house built there. The lot has no view of the ocean and is far from town. I don't see it as very desirable—not good enough for an $800K house.
Current thinking: Make a very lowball offer. If it's refused, and someone else buys it, and a house goes up, we move. Our house is too big anyway.
That could be to your benefit. Most buyers would want to know if they could build on it *before* spending the cash on said permit...especially if the permit process is arduous.
Can you determine how long "Shelia" has owned the property or if there is a mortgage on it? This could help in negotiations. I would also consider talking to a RE agent who could try and do a market analysis on it.
If push comes to shove, what's the maximum you'd pay for the lot?
That's encouraging.
I do think they're trying to take advantage of our desire to not have a house built there. The lot has no view of the ocean and is far from town. I don't see it as very desirable—not good enough for an $800K house.
Current thinking: Make a very lowball offer. If it's refused, and someone else buys it, and a house goes up, we move. Our house is too big anyway.
I think she's had it for over thirty years. No mortgage. People say her husband bought much of the land here years ago.
Zillow estimates it's worth $13K (not reliable).
I think I need an expert to eyeball it and say something like, "Definitely not buildable" or "Maybe, but it would be difficult" or "Probably buildable."