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Updated over 7 years ago on . Most recent reply
Looking to Buy first property
Hi Guys, long time reader first time posting on the forums. I have been following BP podcasts for a while and have read the UBG. My dad owns several rental properties and I have been looking to purchase my own for a while now.
I currently have a 3 br 2 bth I am pursuing, it is selling for much less than I feel it is worth. I've talked to two real estate agents now and they both confirmed that the issue with the home is it is land locked. I'm not sure how this happened but it did, various neighbors own the land that accesses all sides of the home. Sure enough I pulled up the map on the county website and there is a .1 acre lot that extends through the driveway and into a portion of the yard.
My question is, what are my avenues for moving forward with this purchase if I chose to and what are the steps to doing so? My gut tells me the easiest route would be to purchase this .1 acre parcel, if the neighbors were willing to sale, I'm not sure how to get in touch with the neighbors. Another option I imagine would be working out some kind of easement, but I am not sure what steps that would entail. Are there any other steps I should look into? Is this going to be more complicated than I am picturing?
Thanks in advance for the help!