All Forum Posts by: Rick Bevilacqua

Hi Natalia,

If you have anything in Eastern Montgomery or Upper Bucks, please keep me in mind. Thanks!

I am a GC/Investor. I have a company I've been using for a few years..They are in Sellersville Bucks County. Honest reliable and fair prices..Garner Brothers ask for Mike Garner and let them know I sent you..

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@Daniel Harnsberger

 I agree with @Jay Hinrichsthat the time frame for approvals, at least in the Philadelphia market is more in the 12-24 mo range. It is also, for the most part, standard practice, that if the land/property is being sold at a premium as developable land that the closing/purchase is contingent on the buyer obtaining at minimum preliminary approvals and usually final approvals for the subdivision/land development plan.

If this is not able to happen and you are purchasing without the approvals in place, you have to look at it as @J Scottmentioned in the worst case scenario which in this case may just be the existing home on an oversized lot. Of course you could offer a slight premium depending on your comfort level with getting approvals but otherwise you are just taking a gamble to pay much more than the as-is value...

Thank you guys for your input here. I think it may make sense to pay a visit and knock on the door! 

@Josh Caldwell this particular listing states No Inspections, can't enter property, don't disturb occupants, purchasing sight unseen etc etc..What's your thoughts on how to approach this? Attempt to knock on door and speak to occupants and then propose some offerings and benefits to them working with you? Or would it be a "no-no" to even attempt to speak to them?

Does anyone have any knowledge or 1st hand experience with purchasing a bank-owned property that is occupied? This is in Pennsylvania..

IE; what's involved in the purchase process and how the occupants can affect it, as well as eviction if necessary to remove them after closing?

Thanks in advance.

@Gary E. London

 No problem! Once you dig in, feel free to hit me with any further questions. I'd be happy to help if I can.

@Gary E. London You will need to find out the particular zoning designation that your property is listed under and whether Townhouses is even an allowed use. Then you will need to find out the Zoning AND Subdivision/Land Development Ordinances for your Town or City. There should be a breakdown of minimum lot size , setbacks required from property lines for the building envelope on each lot, min road frontage required etc etc etc..That would be the place to start to arrive at a conceptual lot yield for your piece of property...There are many other factors that could also come into play in determining your yield but getting familiar with these ordinances will lead you in the right direction..

Ok, thanks! @Lisa Kohl