Posted by JohnPa on April 21, 2000 at 06:50:15:
Jim,
Thanks for the input. To answer your questions, there is no room for a second driveway location due to the layout of the land. Also, you know how every neighborhood has a trouble maker who doesn’t get along with anybody? He is one of those people.
Maybe I should talk directly with the seller first before getting involved with the neighbor to see if there is a deal to be made.
Thanks again, JohnPa
Good L/O? Bad Neighbor Problem! - Posted by JohnPa
Posted by JohnPa on April 20, 2000 at 21:18:40:
I’m a newbie and looking to do my first L/O on a neighbors property. Property has been on the market for 8 months and was originally listed at $125K and is now redused to $90K. FMV is $100-$110K. 3BR 1.5 baths. The home is vacant since it is a vacation/lake property. I know the owner but have not approached him yet or formulated an offer.
Now for the glitch. He is becoming a motivated seller due to his neighbor. They both share a common driveway and everytime a Realtor comes to show the house he tells them that they can’t use the driveway, it’s his, etc… Basically, he is driving potential buyers away. This is why the home hasn’t sold and the asking price has been reduced three times in 8 months.
The odds are good that I can come to terms with the seller but may end up with a problem in the future trying to L/O or sell outright due to the “problem” next door.
Any ideas on how to approach this one?
Thanks in advance. JohnPa
Re: Good L/O? Bad Neighbor Problem! - Posted by Jim IL
Posted by Jim IL on April 20, 2000 at 22:16:41:
John,
Sounds like this “problem neighbor” might have a problem with the seller.
Hopefully that means you and he are on good terms?
If that is the case, or if you do not even know him, go talk to him.
Tell him you are thinking of buying the place, and would like to talk to him about your plans.
Tell him you intend on finding a “good neighbor” for the home, as you and he both live nearby.
And, if you get a bad tenant, then since you are so close, you can deal with it right away.
He may just be happy to cooperate with you, since you are getting rid of the neighbor he does not like.
Bottom line, it never hurts to ask.
Good luck,
Jim IL
P.S. Is there room for a new driveway that is independent? If so, do that AFTER you buy the place. It may even increase the value. I know that here a common drive is not a good thing when marketing a home. (dealt with one alst summer, and it was a pain, the neighbor ALWAYS had it filled with his cars, and we could not even get ours to the garage in the back half the time.)