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Updated over 9 years ago,
Would you buy a land locked parcel?
Here's the situation:
After a direct marketing campaign, I got a call from a woman that owns two parcels of land within city limits in Southern Mississippi. The first is approximately 3 acres and has road frontage. The second is 4.5 acres and appears to have no road access.
The first (3 acre) parcel of raw land has three years of tax liens on it, and can be foreclosed on due to those.
The second (4.5 acre) parcel is wooded vacant land and has 9 houses touching its boundaries. My best estimate of the land is $18-20k. I could purchase it for about $1700.
Is it worth buying with no access?
Would you try to negotiate an easement after the fact?
Would you try to contact the tax lien owner of property 1?
Would you just sell to the neighbor?
Or would you RUN?
Any advice welcome!