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Updated 10 months ago,
Need ideas to pursuade neighbor to sell small piece of property.
I have a neighbor with an odd sized little piece of property that would work for me to build a shop for woodworking and general storage. I made him a good offer, and he is Okay with the price. However, he is concerned about what might happen to the property in the future once I am gone. This is a fairly quiet rural setting and he does not want any nuisances.
I mentioned deed restrictions, and right of first refusal. He warmed up, but is still on the fence. He didn't come around much on the right of first refusal because he said he wouldn't have any interest in buying a shop building, even if it meant to just resale it. Can anyone think of something else to incentivize this sale? I would really like to have this property for a shop. I talked to my lawyer and he didn't have any other ideas.
Bottom line, the neighbor does not want to relinquish control over the land. As a last resort, I would even be willing to lease the land, provided that I be compensated for the improvements when it sells.
TIA