Potential Deal - But First I Need Help!
A point of contact at City Hall sent me a lead on a property that has a "NOTICE OF APPLICATION FOR DEMOLITION OF A HISTORIC STRUCTURE."
I have the following questions:
1.) What are the implications of this application? Does it mean the house is rotten to the bones and no good at any price? Does it mean the city is planning a large development project and the property is a lost cause? - I am under the impression the seller may simply be unable to take care of the property himself in his old age.
2.) How can this application for demolition be leveraged in a price negotiation scenario? How can I effectively utilize this fact to help acquire the property for a deal?
3.) I have access to the local PVA, so this should help me contact the seller, but I wonder if anyone has any other tactics or strategies for locating the seller if this is not effective?
Seems like a good opportunity, I just want to have a better understanding of the implications of a demolition application, and how it may help me leverage negotiating a deal!
Thanks in advance BP!