U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-08-2009, 01:23 PM
 
14 posts, read 28,463 times
Reputation: 10

Advertisements

Ok so I am looking at buying a place in a couple months and I found a couple really nice ones that say $80,000 but also say that the land is leased for $700.

Is leased land REALLY bad and should be overlooked? Or is it not that bad?

Thanks
Reply With Quote Quick reply to this message

 
Old 08-08-2009, 01:48 PM
 
11,151 posts, read 14,430,152 times
Reputation: 18808
What kind of property are you looking at? It sounds like a mobile home, perhaps, in which case leased property isn't all that uncommon.
Reply With Quote Quick reply to this message
 
Old 08-09-2009, 04:20 PM
 
14 posts, read 28,463 times
Reputation: 10
There are places i've found for around $80,000-$100,000 non mobile homes. So I was wondering
Reply With Quote Quick reply to this message
 
Old 08-09-2009, 04:30 PM
 
11,151 posts, read 14,430,152 times
Reputation: 18808
Since the Forum doesn't allow the posting of real estate links, let me try to convey what the OP is looking at. These are single-family homes in Canyon Country, approximately 1400+ SF, with a 4000SF lot. As the OP stated, the homes are priced in the $80-$100k range, and the land is leased.

If anyone has suggestions on these properties and whether they're a good idea, the OP can DM links for others to look at.
Reply With Quote Quick reply to this message
 
Old 08-09-2009, 05:57 PM
 
Location: RSM
5,113 posts, read 17,803,681 times
Reputation: 1893
It really depends on the length of the lease. If you're 90 years away from expiration, it's not a big deal. If you're 10, that's a pretty big problem you'll have
Reply With Quote Quick reply to this message
 
Old 08-09-2009, 06:05 PM
 
11,151 posts, read 14,430,152 times
Reputation: 18808
Quote:
Originally Posted by bhcompy View Post
It really depends on the length of the lease. If you're 90 years away from expiration, it's not a big deal. If you're 10, that's a pretty big problem you'll have
Out of curiosity, do you know what happens when the lease expires?
Reply With Quote Quick reply to this message
 
Old 08-09-2009, 10:10 PM
 
Location: RSM
5,113 posts, read 17,803,681 times
Reputation: 1893
based on limited knowledge, you try to renegotiate with the land owner. sometimes you secure a new lease, maybe paying more money in the process, sometimes you dont and you give up the land.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 04:24 AM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top