All Forum Posts by: William Glass

Exactly and apologies it wasn't as clear as it could be. That is my thought as well. I think after submitting the offer next steps are to understand what the legal precedence is in Arizona and if the option is enforceable. Thanks Max!!

@Max T. She eventually wants to build on the land and doesn't want the neighboring house. Plus they are priced out of her price range and over comps in the area so that it isn't a viable option at the moment. 

@Russell Brazil  There wasn't a date for the option, it may be considered more a first right of refusal. I'm unsure of AZ law on that front.

I am having her put together an offer just for the land in order for her to comply with their agreement to exercise her option and force them formally reject it. I've also contacted the Real Estate Agent about the agreement who they have it listed with since the seller is not returning calls/emails. Trying to work out a win-win-win so all parties come out on top, but it's difficult when the seller isn't responding. 

I want to ensure my mom is protected and complies with all the legal pieces in case it comes to that, but legally it doesn't make sense that they sign an option on a parcel of land and then seller says oh wait you also have to buy this other thing too...

Hi BP,

I'm trying to help my mother out who had land in Sedona Arizona for 10+ years and had to sell in 2009. They sold it to their neighbor with a clause that gave my mom the option to purchase the land at fair market value prior to any other buyer. 

Well she just received a call that the neighbor is selling but won't sell the land separately from the house because the land, if built on would potentially block the neighbor's view. She was told they are not selling them separately and could make an offer on both. 

It appears that they agreed to terms via email, but the actual language in the sales contract of the land in 2009 says "(my mom) reserves the right to purchase this property back from the Buyer. Terms and conditions of said purchase shall be determined by the parties outside close of escrow. "

Does anyone have any experience with something similar and/or can someone recommend an Arizona Real Estate Attorney who can advise?

This parcel is sentimental to her (as I've already suggested we find a better parcel).

Thanks!

William

Hi JT, I am also in the IT industry down here in Fort Myers working for an IT research firm. I've been looking at duplexes in Lehigh Acres, Cape Coral l& San Carlos for the past 6-8 months and haven't been able to make the numbers work for me. SO i've shifted my strategy and have a piece of land under contract that I am going to put up SFH. I'd be happy to connect and give you some insights into what I know about the area, though I'm sure there are much more experienced investors who can provide greater value. Feel free to shoot me a message if you want to connect.

Thanks,

William

@Willie Webb @Troy Norwood Any updates on the new construction projects? Any stories to tell?

I'm closing on a lot south of the Calossahatchee a block from the river and just west of 75. Looking to put up a 3/2 SFH and have one builder who has quoted ~$75/sqft and a 9 month build timeframe from start to finish.

Thoughts?

@Jim C. @William Stokes @Mike Strelser any updates on the new construction projects? I'm in the process myself of closing on a lot a block off the Calloosahatchee (to the south) and just west of I75 and would appreciate a follow up on all of your experiences. 

Thanks!

Hi Michael, I like that you have narrowed down your criteria. I think that is a good start and understanding what zip code and the type of property you are looking. My piece of advice would be to get more focused clarity on what your goals are an how you plan on achieving them. Your post above jumps from one thing to another and I think it is well intentioned, but could be more clear and concise. You mention a few marketing strategies, the stock market, working for others, wholesaling, pulling lists. That's a lot there to swallow just starting out!

One small fix is that all LinkedIn profiles are linkedin.com/in/...... I just realized that you have to actually put the /in/ in front for it to actually link. Otherwise it will not connect properly.  

@JD MartinThat makes sense JD. Thanks for the insight and is helpful when I look to structure my offers.