Posted by dutch on March 30, 2006 at 21:47:37:
If it is a seperate parcel (under the assessor and tax roles), then get a seperate deed. Yes, get a seperate contract for each parcel. I would assume the land contract would have a contegency on you closing on the house.
Question - Posted by Brandon Crowe
Posted by Brandon Crowe on March 30, 2006 at 17:34:08:
I’m about to put a vacant house under contract, and it turns out the owner also owns the adjacent lot, he has agreed to give us the lot as part of buying his house. My question is…Do I need to seperate contracts? Or can i just add that seller agrees to give up adjacent lot in the addendum? Thanks
Re: Question - Posted by Charles Parrish
Posted by Charles Parrish on March 30, 2006 at 23:29:32:
Yes, use separate contracts for each. If the lot is a “give me” make that contract for a very small amount. If you decide to sell both (I suggest public auction) you can offer the house, and hold the bid, sell the lot and hold the bid and than offer them as an entirity. Sell them to the highest bidder, assign your contract of sale.
Charles