Even the experienced get burned .
#2 Contractors Contributor
- Severna Park, MD
A builder I know thought he got a smokin deal on 8 lots in an expensive area near me . Its an old subdivision so he had to merge 8 lots into 4 . He paid $ 60 thousand for the lots . Which is a great price . Now the road is on the plat , but not built and it is a private road . So he has to extend road 200 ft , no big deal . The new houses would sell for $ 475,000 . He got waivers for being near wetlands , and a stream , has all the trees marked that stay . had everything staked out .
BIG PROBLEM , the neighbor walks over to him and tells him again he cant build on the lots . The builder tells the neighbor everything has passed the county , he is just waiting for final approval . The neighbor tells him , " and it isnt going to happen , BECAUSE this is a private road , you only have egress to your property . BUT the county wont allow their utilities on a private road UNLESS the property owners on either side of the road deed that portion to the county . And unfortunatly for you , I own the properties on both sides and I wont sign off ." And he had the request from the county in his hand .
The builder says " I will sue you for an easement "
The neighbor says , " i knew you would say that , here read these " And handed him the last 2 suits that were filed by builders who bought the lots in the past ." I won the last 2 , save your money "
The smokin deal turns into a big bust . When the lots were subdivided was in the early 1900's , it was well and septic at that time no one even thought of a utility easement for water and sewer closest utilities were 20 miles away at that time All there was was an road right of way . The neighbor loves his privacy , he doesnt have to buy the lots and pay the taxes , he controls them at no cost to him .
1 minor oversight cost the builder the purchace price of $ 60 K , another $ 12 k in engineering and the ongoing property taxes untill the neighbor dies or can be persuaded to change his mind on the easement .
Most Popular Reply
Until he can find the next sucker to buy them just like someone saw him as a sucker and thought he would get a "smokin' deal".