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IIRC the surveyor and attorney's fees came to about $500 apiece, plus the settlement I paid to the property owner.
What was the settlement based on? That is what I am really struggling with. Like others have said, my lot was about 2.50/sqft and his was about 5. One of my coworkers was offered to extend her lot by the developer (not mine) that was doing the property next to hers and their price was $15.
What was the thought process you went through? Was it even based on square feet?
Well each to their own. I would keep the land and that would be the last word.
Note also that 1-X and 1+X does not work. Moving X from one side to the other will cost the developer money so he will eat part of X or require a bigger amount from the person getting the land than the person losing the land receives.
And lot size may be more important than you think. One reason my property (and one other) are the most valuable properties on the block with our floor plan is because our lots are larger than all the other lots with the same floor plan.
But of course it's a free country. You got the advice. Do what you want.
On the other hand, the neighbor appears to have paid $5/sf for his lot, so if it were me, I would want it be at or at least much closer to that rate, personally.
But it seems like the person currently living next door for some time needs to deal with the mistakes of the developer on this.
How can two parties write a contract promising good things to each other IF one party is to purchase a property...IF the inspections go well...IF the lot and house are as they are supposed to be (hey, the nieghbor's was totally wrong)...IF the lender approves of the house and loan. Where's the little head showing someone slapping their head.
What was the settlement based on? That is what I am really struggling with. Like others have said, my lot was about 2.50/sqft and his was about 5. One of my coworkers was offered to extend her lot by the developer (not mine) that was doing the property next to hers and their price was $15.
What was the thought process you went through? Was it even based on square feet?
Well, roughly. I looked at what vacant land was going for around here, and came up with a round lump sum number that worked out to be about 50% more than that based on my guesstimate of the land area. My intent was to make the offer generous enough that it would be a no-brainer for my neighbor to agree. But then the survey came in and I found I'd initially underestimated the land area anyway, so it worked out to be just over market value, I think. Anyway, the total cost was well within my home improvement budget, the back garden adds to the value of my home, and having a legal agreement in place also removes a nagging worry that some future owner of that property might attempt to reclaim the land on my side of the fence so they can build something right up to the property line 5 feet behind my house.
You need to have the property you are buying surveyed to make sure that it is as described in your contract.
If the neighbor his encroaching then the seller must remove the encroachment prior to your closing on the house. Keep in mind that in most states there is the concept of adverse position which means that if your neighbor uses your property in an open and notorious way that neighbor can claim title to that land after x years of use (including time before you purchased the property). In California it is only 5 years. As others have described if the neighbor's use isn't an issue you still need to take action to protect your title to that land. Hire a lawyer to draw up an agreement. It may be that you don't see it as a problem now but mark my word at some day in the future it may become one.
How can two parties write a contract promising good things to each other IF one party is to purchase a property...IF the inspections go well...IF the lot and house are as they are supposed to be (hey, the nieghbor's was totally wrong)...IF the lender approves of the house and loan. Where's the little head showing someone slapping their head.
I am sorry, I don't quite get what you are saying. I certainly wouldn't be entering into a contract with my neighbor, I just have a ton of influence over the contract that he would enter into with the developer considering the developer has signed a contract with me for the entire lot that will need to be amended based on the amount of land he sells to my neighbor.
The thing I think most people are missing is that this entire thing doesn't really involve me actually selling anything. The guy that I am buying my house from would just end up selling me a little less land for a little less money. I just want to know how much less I should pay.
You need to have the property you are buying surveyed to make sure that it is as described in your contract.
If the neighbor his encroaching then the seller must remove the encroachment prior to your closing on the house. Keep in mind that in most states there is the concept of adverse position which means that if your neighbor uses your property in an open and notorious way that neighbor can claim title to that land after x years of use (including time before you purchased the property). In California it is only 5 years. As others have described if the neighbor's use isn't an issue you still need to take action to protect your title to that land. Hire a lawyer to draw up an agreement. It may be that you don't see it as a problem now but mark my word at some day in the future it may become one.
Don't be a doormat.
What do you mean when you say that I should get a survey? Forgive me if I am confused, but I think that a survey was actually part of the contract. What information is in the survey? Is the survey the placing of the stakes or is the survey the drawing of the lot and documentation of all the dimensions? I have a "Land Surveyor's Certificate" that was part of the contract. It shows the borders with the angle and the length of the border in feet.
I appreciate the concern over adverse possession, but it is 20 years in SD and his house is less than 2 years old, so as long as I deal with it somehow (I am either going to sell it to him or make him move his stuff) I think I will be OK there.
How can two parties write a contract promising good things to each other IF one party is to purchase a property...IF the inspections go well...IF the lot and house are as they are supposed to be (hey, the nieghbor's was totally wrong)...IF the lender approves of the house and loan. Where's the little head showing someone slapping their head.
That would be the county. You just can't change property lines without approval from the county, and permits, surveys, fees, recording, etc, etc.
I don't know why people have difficulty absorbing this concept.
Even the developer had to file plot plans and get them approved before being allowed to build. Once it's approved its beyond the scope of the developer to just move a line.
I am sorry, I don't quite get what you are saying. I certainly wouldn't be entering into a contract with my neighbor, I just have a ton of influence over the contract that he would enter into with the developer considering the developer has signed a contract with me for the entire lot that will need to be amended based on the amount of land he sells to my neighbor.
The thing I think most people are missing is that this entire thing doesn't really involve me actually selling anything. The guy that I am buying my house from would just end up selling me a little less land for a little less money. I just want to know how much less I should pay.
Real estate is NOT SOLD THAT WAY! Real estate is divided into parcels. The county has the legal descriptions, the surveys and the maps. Nobody can change that without going trough the county, and it wouldn't surprise me if the process is long and arduous.
A deed is a piece of paper that shows the ownership of a parcel. You can't just trim off part of a deed and tape it to a different deed.
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