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#421491 - 03/11/13 08:28 PM New house
firehawk54 Offline
Junior Member

Registered: 03/11/13
Posts: 2
Loc: NY
I'm interested in a house in a large town in Upstate NY. I have learned it was a mild flip. The gentleman that bought it did some improvements, granite, stainless appliances and floors. It's a 60's house but its in excellent condition. He wants 169k. The problem is, he sub-divided the property. It had a very nice big side yard. I originally thought was part of the property but its not. It's big enough to build a house on .3 something of an acre and it would literally be close enough to peek into the windows and see the neighbors if it would happen (depending on what was built etc.) I have a bad feeling because I'd like to make a serious offer on the house but the owner won't answer questions about his intentions of the adjacent property. I was told there are not many build-able lots left in the village. Maybe he has no intentions of doing anything with it for the time being, maybe he wants to build on it, maybe he wants to sell me the house first then me like "hey i got a nice lot right nextdoor" lets make a deal, 15k!? Anybody ever ran into this? Is this unethical? It infuriates me that he had to sub-divide the property.

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#421492 - 03/11/13 08:36 PM Re: New house [Re: firehawk54]
MHT Offline
Member

Registered: 12/25/09
Posts: 322
Loc: Ontario, Canada
He owned the land and it was possible to subdivide it so he did....there is nothing unethical about that. The odds are really good that the plan is either to build on it or sell it as a building lot to someone else. If you only want it with the extra lot, make an offer on the combination of the two lots but don't expect to get a great deal on it....that's likely where his profit lies on his flip.

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#421500 - 03/12/13 12:25 AM Re: New house [Re: firehawk54]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
The sum of the parts is usually greater than the whole.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#421501 - 03/12/13 12:26 AM Re: New house [Re: Vermont]
MHT Offline
Member

Registered: 12/25/09
Posts: 322
Loc: Ontario, Canada
Originally Posted By: Vermont
The sum of the parts is usually greater than the whole.


Exactly. I have done this a couple of times myself.

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#421504 - 03/12/13 02:27 AM Re: New house [Re: MHT]
firehawk54 Offline
Junior Member

Registered: 03/11/13
Posts: 2
Loc: NY
It's just really a shame because that house has a beautiful porch and deck area facing the yard and someone who cares about nothing but making money is going to ruin it. Obviously the porch wasn't designed to face a house 10 feet away so you could wave into the kitchen and say Haaaaaay! Its just greed and the old man that owned the home will be rolling in his grave. Besides being a bit over priced, i think the fear of the unknown with the adjacent property has scared enough people for the house to be on the market 158 days.

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#421518 - 03/12/13 12:36 PM Re: New house [Re: firehawk54]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
If such small lots is so terrible, I wonder why the Zoning Bylaw in that Town allows for setbacks so short ?

You should have bought this home before the current Owner made the purchase . . . . or if the Sub-Division was done by petitioning for a Variance; someone like you should have been so outraged as to have testified in opposition to the Zoning Board granting a Variance.

Being from the 1960s, this isn't really a "new" house, and it's not old enough to be of some historical significance so that we'd want to preserve the design aesthetics as they were originally intended. It probably represents the highest and best use of the land in that Town and the distribution of available existing services like water and sewage disposal.

At this stage, it's over and done. I'd go find another house with a bigger lot and stop grieving over spilled milk.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#421520 - 03/12/13 01:52 PM Re: New house [Re: firehawk54]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2404
Loc: Outer Banks
When he sells the house he will have the money to build with. If he is smart he will build the biggest house possible.

Originally Posted By: firehawk54
Its just greed and the old man that owned the home will be rolling in his grave.


Are you not being greedy wanting a whole build-able lot for a yard? I don't understand the difference.


Edited by Bigtoe (03/12/13 01:56 PM)
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#421563 - 03/13/13 06:30 AM Re: New house [Re: firehawk54]
Musa Opondo Offline
Member

Registered: 09/24/12
Posts: 210
Loc: USA
I think the unfortunate thing is that the owner will not let you know his plans with the adjacent property.
Besides i wouldn't say you are being greedy because all you want is some privacy if he sells you the home.

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#421620 - 03/14/13 04:18 PM Re: New house [Re: firehawk54]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
If you really like the house I would probably not purchase it without also purchasing the lot. Good luck!

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#421814 - 03/18/13 11:50 PM Re: New house [Re: firehawk54]
Malok Offline
Member

Registered: 08/18/07
Posts: 441
Loc: Kentucky - in a barn!
Its a bummer that he did that - but he owns it so he can do whatever he can legally get away with. If it were me, I probably would pass on the home unless it came with that lot.

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#425411 - 06/27/13 01:13 PM Re: New house [Re: firehawk54]
andrrival Offline
Junior Member

Registered: 06/27/13
Posts: 7
Loc: New York
Yes,I agreed that the unfortunate thing is that the owner will not let you know his plans with the adjacent property.

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