Posted by River City on December 18, 2005 at 10:31:06:
It appears to me that you have answered your own question. You do not want to do this, so why do it?
deed - Posted by NW
Posted by NW on December 16, 2005 at 22:23:36:
I have a contract on a house with 3 lots. This house with 2120 sf ft was damaged by Hurricane Rita. It had a big hole in the roof and needed work done ASAP. The oustide siding is very bad especially the back of the house. This is a cash deal for only $7,500. The tax appraisal is $47,000. I had a survey done and found out that the house is sitting outside the property line by about 13.5 ft. When this house was built in 1955, it sat on 6 lots, which is 3 lots in the front and another 3 lots directly behind. The seller bought this property at a tax sale 8 years ago for cash and didn’t have a survey done. Anyway, when the house was being foreclosed on, only the front 3 lots was sold with the house. I was able to find the new owner for the back 3 lots which was bought only on July 15 of 2005.
What is your advice? DO you think that I should go ahead to buy this property or just forget about it since the house is sat outside the property line. I really hate to fix the house up especially in the back which is heavily damaged that will costs about $10,000 to fix and later on being told by the owner of the property that I have to tear the house down. This land is in an unincorprated area and the lot in the back has no entrance if a house is being built. It was a canal at one time near to the bay. Thanks