Updated over 15 years ago on . Most recent reply
Built on Easement
If a homeowner built part of their garage on an easement and could not transfer clear title because of this, what kind of discount would you want?
I imagine this limits the sale to someone who can pay cash because no bank will lend on a property without clear title. The other option would be for the homeowner to tear down the garage which greatly reduces the attractiveness of the property. The current owners (kids of the parents who passed away) are motivated to get rid of it as its more of a headache for them.
ARV is $250K and needs around $50K in repair. I would not flip this, but buy and hold for future vacation home.
What would you pay in this instance? Thanks for any advice.