Hey everyone, just had a call come in today from someone who has a property located next to a hospital. The hospital has purchased the land for future expansions and there is a home valued at approximately $130,000 on the land. Owner wants to sell for whatever they can but I have no idea how to approach something like this. I just wholesale properties at the moment.
Has anyone had any experience with a situation like this? I imagine it is expensive to try and move a 1,000 sq foot property but I also can't imagine an investor can't make some money out of a house when a seller has a deadline and is in a situation where they don't have any other options to sell the property. Any advice would be awesome. Thanks!
@Jason Yarusi May have an idea
I knew someone in Houston who did it...the house was $1. They still paid $10K to move it out to the country about 30 miles, and this was 20 years ago. Plus prepare their country lot, etc with utilities and a foundation for the house. Was another 20K. Also about 1000 s.f. They owned the land for a long time, I don't know what it cost them or if they inherited or what. I guess a lot depends on the value of the lot the house is on relative to the total price of the house. What did the hospital give them for the lot?
There was a show about moving houses over a decade ago that i watched.
The property may or may not be move able depending on condition of the structure. Also the distance it needs to be moved and how many traffic lights,power poles,trees,etc. there are with hills and road turns leads to difficulty. Sometimes there are older bridges that need to be crossed to reach the final destination that cannot carry the weight.
Generally there are special permits needed to move the house and only a certain time allowed to do it on the streets. It's not usually like modular homes where they can cut in half in two pieces.
The cost to move a house can get very expensive sometimes 50k to 100k. You have to analyze your land costs where the house is being moved to, house moving costs, and then costs to drop it on a foundation and connect everything up to where it is working correctly.
If all of that is close to an existing house with land already then does not make much sense to do it. If the cost was 50% cheaper moving the house then maybe worth the effort involved.
Thanks @Jordan Moorhead - we moved a ton of houses over the years and generally situations like these are almost impossible to complete for two reasons costs and logistics. We get a lot of these calls where they are trying to move a soon to be demoed house for development generally so the builder can save on demo.
@Joel Owens covered most of the costs however we can move any structure it just comes down to any additional costs that would be needed to Ben stabilized.
If you are set on getting this done then you need to have a new location. Make sure the house will fit within it’s setbacks at the new lot and that utilities can be accessed but before all that trouble can the house actually make the journey there. Are there utilities in the way, is road wide enough, are their bridges etc.
For context we once moved a historic structure a half mile across a highway and it cost the historic commission $65,000 just to take down the utilities for that distance. Many states will also need you to hire police for the days etc for the move.
I’ve done a ton of videos on this if you want to know more you can email me and I’ll send you the link.