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399083453, Thanks for the input. We did pay for a survey when we purchased it and it is not in a Flood zone and no flood ins. would be required for a home. We did all the required steps necessary to make sure it was a good piece of land. It is out of our control that the Federal Gov. changed it to wetlands. We never would have purchased it if it would have been classified as wetlands at that time. It was not in the wetland area on the GIS map at the time of purchase and I spoke to the county then and they said there were no issues and we would be able to build on it.
LifeIsGood01, We already have a house so that is why I am contemplating letting it go. Let it be someone else's problem and let them pay the taxes. We are fine with staying in our home for the long run. And actually, from we have seen based on others that have had foreclosures, it is really not a big deal. We've witnessed individuals foreclose on $200-500K homes and turn around and buy newer and more expensive homes afterward.
The County has adamantly attested to the fact that the property IS wetlands and we would have to spend several thousands of dollars to find out we can not build a home or would have to spend several more thousands of dollars to be able to build. We are NOT interested in building a home there at all since speaking to them. Actually, I am not interested in ever purchasing land again after this nightmare.
How about checking into the title insurance on the property? If the land was intending as a building lot and now it isn't the title insurance could come into play.
I know of a beautiful home built too close to the water. Owner paid almost 2.5 million and now the house has to be torn down. He is working a settlement with the title insurance company due to the building location mistake.
Curious how others would handle this situation. We financed 9 acres 7 years ago (with a local bank) to build a home on. At that time it was not "wetlands" according to the county's GIS map. We spoke to someone at the county office and asked if we would be able to build on the property and were told YES. Now all of a sudden (7 years later) we noticed that is classified as "wetlands" according to the County GIS map. We spoke to the county recently and they are now telling us it is all wetlands and we can not build on it unless we pay to have studies (to determine if it is wetlands) and then we would have to pay mitigation, etc. IF there is even a possibility it can be built on. So, we are obviously in a lose-lose situation. We have a mortgage on the property. I am seriously thinking of not paying on it anymore and letting it foreclose. This seems to be the only alternative as we do not want to be stuck paying property taxes for the rest of our lives for property we may not be able to build on or ever sell. Why would anyone want to buy "wetlands"???? The county is saying it IS absolutely without a doubt wetlands so why should we pay more money to just find out it is wetlands and we can't do anything with it or that we would have to spend a lot more money (per the county employee it could be many more thousands of dollars) to be able to do something with it. Taking a loss and letting the property go and letting the county deal with it and then finding someone else to pay the taxes seems like the best bet for us. Why should WE keep losing money?? We feel we have been bulldozed by the Federal and the Local Government. The Feds have their wetland boundary and the county has an extra wetland boundary that extends 50' out from the Fed's boundary. I am wondering if this is some scam to land grab without actually paying for the land and also having the benefit of tax revenue from land. Also, this property backs up to State owned land. Also, this property is NOT on the coast. We have never had a foreclosure and have excellent credit but I am so beyond frustrated because I feel we are powerless and are being taken for complete suckers. We are older and have a home plus another vacant property in another area of Florida that we are going to sell ASAP before it suddenly becomes wetlands. I can guarantee we will NEVER buy vacant land again after this experience.
Interesting! Hubby is a wetland delineator (worked in FL) so the title caught my attention. I will let him read the thread and see what his take is. Things just don't sound right.
I don't understand..when did they do a wetland delineation to change the determination on your property? How do they know what area of your 9 acres is now wetlands? Did they ask your permission to come on your property? I'm pretty sure it can't be determined without someone actually looking at plants/soils and usually at different times of year. Actual boots on the ground kind of thing. It doesn't make sense. They are saying they "are" wetlands yet telling you that you need to have a study done to determine "IF" they are wetlands.
I am really curious about all of this and will post what I find out. I'm sure DH can at least get you going in the right direction.
Same happened to me... had one home plus two more buildable adjoining parcels in 2004.
Today it is all wetland or wetland set back... but... the existing home is grandfathered... so the value may improve as no one else supposedly can build in this area...
There were a few hearings attended by overflow crowds and they went well into the morning... when it was all said and done... the government did exactly what it intended...
One other option might be to check into whether a developer could utilize the site as wetland mitigation for a small development. "Preservation mitigation" might allow a developer to purchase the land from you in return for satisfying a wetland permit requirement. The developer might be able to then donate the land to the state. You might also look into making a donation to the state as well.
Contact your local Army Corps of Engineers office to see if they know of any developers who might be looking to satisfy mitigation requirements. It may be a long shot, but I've dealt with a few "preservation mitigations" where developers have purchased wetlands and then donated them to a conservation organization.
Excellent advice. There are some companies that specialize in this. Check out Wildlands, Inc, and Westervelt Ecological Services, google "mitigation banking" and your state to see what hits you get.
Good luck. They have a good business model, and have clients ranging from housing and commercial developers to the State.
floridacoast -- recommend check with an attorney. Some states have "downzoning" laws where if the local government takes a regulatory action that renders the land unusable, that action is compensable to the landowner that suffers the loss in value.
One other option might be to check into whether a developer could utilize the site as wetland mitigation for a small development. "Preservation mitigation" might allow a developer to purchase the land from you in return for satisfying a wetland permit requirement. The developer might be able to then donate the land to the state. You might also look into making a donation to the state as well.
Contact your local Army Corps of Engineers office to see if they know of any developers who might be looking to satisfy mitigation requirements. It may be a long shot, but I've dealt with a few "preservation mitigations" where developers have purchased wetlands and then donated them to a conservation organization.
How about checking into the title insurance on the property? If the land was intending as a building lot and now it isn't the title insurance could come into play.
I know of a beautiful home built too close to the water. Owner paid almost 2.5 million and now the house has to be torn down. He is working a settlement with the title insurance company due to the building location mistake.
Thank you for that suggestion. I am going to check into it. I thought title ins. was only for previous liens, etc. that were missed during the search but that sounds like it covers much more and it won't hurt to check.
floridacoast -- recommend check with an attorney. Some states have "downzoning" laws where if the local government takes a regulatory action that renders the land unusable, that action is compensable to the landowner that suffers the loss in value.
Thank you.
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Curious how others would handle this situation. We financed 9 acres 7 years ago (with a local bank) to build a home on. At that time it was not "wetlands" according to the county's GIS map. We spoke to someone at the county office and asked if we would be able to build on the property and were told YES. Now all of a sudden (7 years later) we noticed that is classified as "wetlands" according to the County GIS map. We spoke to the county recently and they are now telling us it is all wetlands and we can not build on it unless we pay to have studies (to determine if it is wetlands) and then we would have to pay mitigation, etc. IF there is even a possibility it can be built on. So, we are obviously in a lose-lose situation. We have a mortgage on the property. I am seriously thinking of not paying on it anymore and letting it foreclose. This seems to be the only alternative as we do not want to be stuck paying property taxes for the rest of our lives for property we may not be able to build on or ever sell. Why would anyone want to buy "wetlands"???? The county is saying it IS absolutely without a doubt wetlands so why should we pay more money to just find out it is wetlands and we can't do anything with it or that we would have to spend a lot more money (per the county employee it could be many more thousands of dollars) to be able to do something with it. Taking a loss and letting the property go and letting the county deal with it and then finding someone else to pay the taxes seems like the best bet for us. Why should WE keep losing money?? We feel we have been bulldozed by the Federal and the Local Government. The Feds have their wetland boundary and the county has an extra wetland boundary that extends 50' out from the Fed's boundary. I am wondering if this is some scam to land grab without actually paying for the land and also having the benefit of tax revenue from land. Also, this property backs up to State owned land. Also, this property is NOT on the coast. We have never had a foreclosure and have excellent credit but I am so beyond frustrated because I feel we are powerless and are being taken for complete suckers. We are older and have a home plus another vacant property in another area of Florida that we are going to sell ASAP before it suddenly becomes wetlands. I can guarantee we will NEVER buy vacant land again after this experience.
