Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 18 years ago,

User Stats

34
Posts
9
Votes
Romeo Abenoja
  • Flipper/Rehabber
  • Englewood Cliffs, NJ
9
Votes |
34
Posts

Road Development

Romeo Abenoja
  • Flipper/Rehabber
  • Englewood Cliffs, NJ
Posted

Hello all,

I have a client that is in the process of buying 2 vacant wooded lots here in bergen county, NJ. It seems to be under market value but, there is a road that needs to be extended.

Here's some details:

1. The 2 lots are not side by side. There is 4 vacant lots all together and my client is buying the second and fourth lot. The other 2 have been owned by two different parties for over 10 years.

2. This is a residential neighborhood and there is a few houses already existing on the block. The problem is that the road ends just before the 4 vacant lots. The road will need to be extended 400ft.

3. These vacant lots are located on a hill. On a downward slope with an appox. 20% grade.

4. Attempts to contact the other 2 owners are proving to be difficult.

So, my questions are this.

Who should bear the costs of extending the road?
Should it be the town or my client?
If my client has to bear the cost, what should be done with the other 2 owners?
Assuming that the town allows the road to be built, Is the 20% slope a major problem?
What should he expect his estimated cost to be to extend the road?
(I know without an engineer/survey and various other documents this question is kind of impossible but, if there are any developers here maybe you can provide some insight)

If the town doesn't allow the road to be built, then the deal would be dead as the lots are not builable. What can be done with the lots then?

I know this is alot, especially for my second post :mrgreen: but, anyway thanks for any help/advice in advance!

Loading replies...