Lot split concern for first MFH

[Kevin Strauss]

I'm in the due diligence phase of purchasing my first rental property (owner occupy). The purchase agreement states the lot (~9600 sq ft) is in the process of being split by the owner. 

I'm concerned with what could happen to that portion of land. I've contacted the city, and they stated since it's less than 7000 sq ft that no other residential property can be built on it. I'm researching what the minimum sq ft for a commercial property is at the moment. As far as I can tell, it's zoned for residential property, only. 

My agent and the seller's agent are in talks to get an easement, due to my access to the garage would be cut off without one. My agent states the seller has suggested they would pay for this process with the lawyers. I do have contingency in my purchase agreement regarding the lot split.

Some concerns: 

-they are playing some long term investment, which I have no idea what for. 

-the lot wont sell, and it will be neglected (grass not being cut, etc)

-they build a garage or shed and store stuff there.

What are your thoughts regarding this ordeal? 

The property seems like a great buy and a good first investment. 

Thanks,

Kevin

[Carson Wilcox]

what the city "says" can and cant be built on it is moot.  Assume the worst.  Zoning can be changed, setback rules change, ****, bribes happen...  I would also ensure that the lot sq. ft you are left with is what you need for your plans.  If it were me, I would be like nope.  I am buying this lot #, if you want to take half my lot away,we have to renegotiate... and never ever ever take anything that is gonna happen, as a fact..  not notarized, never happened.