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Old 06-03-2019, 12:01 AM
 
201 posts, read 116,388 times
Reputation: 361

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I was looking at some investment properties and found a house that was listed but went through
Pending (Pending Feasibility). Look like some investor offered and found something weird. In that case:

1. Is that what I think it is? Basically, someone found something?

2. With this historical transaction, what information I can get as the seller must disclose?

Thanks.
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Old 06-03-2019, 08:38 AM
 
Location: Kansas City North
5,089 posts, read 8,554,085 times
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I would think it means either the potential buyers want to get the zoning changed, or maybe tear down the house and build something else, which the city may or may not approve.
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Old 06-03-2019, 09:19 AM
 
12,018 posts, read 9,671,191 times
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Quote:
Originally Posted by qhoc View Post
I was looking at some investment properties and found a house that was listed but went through
Pending (Pending Feasibility). Look like some investor offered and found something weird. In that case:

1. Is that what I think it is? Basically, someone found something?

2. With this historical transaction, what information I can get as the seller must disclose?

Thanks.
Pending Feasibility – Contract from buyer has been accepted. The seller is awaiting satisfaction of the buyer's feasibility study. Similar to Pending Inspection, but most frequently used for land purchases that include lengthy and detailed feasibility studies.

https://www.findwell.com/real-estate...ition/pending/
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Old 06-03-2019, 09:58 AM
 
201 posts, read 116,388 times
Reputation: 361
But is the seller required to disclose the results of that feasibility study? Since they probably got a copy by now.
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Old 06-03-2019, 10:22 AM
 
7,639 posts, read 9,543,478 times
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Quote:
Originally Posted by qhoc View Post
But is the seller required to disclose the results of that feasibility study? Since they probably got a copy by now.
If a report is produced, a Buyer usually isn't required to give any results to the Seller; it's the Buyer's document. Since you're not a party to anything, you don't get to see it either.

Last edited by jackmichigan; 06-03-2019 at 11:40 AM..
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Old 06-03-2019, 10:42 AM
 
Location: Rochester, WA
8,584 posts, read 5,360,662 times
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Sometimes 'feasibility study' isn't so much a document as it is a process. It's study and research into whether whatever the buyer would like to do is feasible... And usually involves permitting and/or zoning issues. Sometimes the buyer is doing their own legwork on that, sometimes they hire someone. It depends.

The seller's agent may well share the bottom line with you, if they know. It doesn't hurt to ask... or have your realtor ask.
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Old 06-03-2019, 11:46 AM
 
Location: Charleston, SC
6,545 posts, read 4,560,235 times
Reputation: 5248
Quote:
Originally Posted by LifeIsGood01 View Post
Pending Feasibility – Contract from buyer has been accepted. The seller is awaiting satisfaction of the buyer's feasibility study. Similar to Pending Inspection, but most frequently used for land purchases that include lengthy and detailed feasibility studies.

https://www.findwell.com/real-estate...ition/pending/
My clients want to buy a piece of land zone residential. They will not be able to approach the rezoning and permitting issue on it until around October of this year. Because they are not 100% certain the land can be feasibly used, it's pending feasibility, we also allowed for a kick-out clause which gives the seller to kick out our offer if another buyer with less diligence comes along. It's only fair to the sellers who are tying up their sale with our diligence.
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