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Updated over 4 years ago on . Most recent reply

User Stats

24
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3
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Tony Ferrero
  • Rental Property Investor
  • Belleville, IL
3
Votes |
24
Posts

Neighbor's garage on property I reviewed

Tony Ferrero
  • Rental Property Investor
  • Belleville, IL
Posted

Hello, so in my viewing of a property I think I could make work for a brrrr, she has a neighbor's garage built in the property. He's an old man that takes pride in the look of his home and could be an ally as he called the prior owner when anything went South.

At first blush I looked at that and the age of the HVAC and the signals she was sending that she didn't want to take an investor offer and I declined to offer

She still hasn't listed the home and is a motivated seller. Talk to me about how you'd look at the garage situation. Keep it in the back of my mind and when something happens to the guy get it surveyed and ask him to tear it down ?

Did a lot of work prospecting this deal and didn't want my relative newbie Outlook to cause me to look at creative ways to solve problems

Most Popular Reply

User Stats

462
Posts
365
Votes
Jon Reed
  • Rental Property Investor
  • Springfield, MO
365
Votes |
462
Posts
Jon Reed
  • Rental Property Investor
  • Springfield, MO
Replied

So... this story is for SW Missouri.. not sure how it works out in your area.

Just recently had a family member deal with part of their neighbors house actually being on their property. They purchased 7 acres and closed without issue. Everything closed fine because the lender and title company didn't require a survey before closing. Once they closed on the deal they worked with the neighbor and the city to have the property lines re-drawn so that the neighbors lot now included their full house plus 6' of setback that is required. 

I believe my family member 'sold' the little section of lot to the neighbor for $1.00 as long as the neighbor covered all the survey and titling expenses.

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