How to encourage landlord next door to sell?

I live in a neighborhood that is rapidly turning over from its original 1950’s slab-on grade ranch houses of ca. 2000-2500 sqft to new, 1.5-story 4000+ sqft homes with basements. Since I moved in back in 2017, there are 10 new builds on the street out of about 60 homes, and another 3 under construction.

I also live on the lowest elevation lot on the street, in one of the older homes that I want to stay in long-term. We have some significant drainage issues around our house, and we’re planning some significant work to correct those issues.

The house next door to mine is a rental house that definitely gives the impression that the landlord is looking to sell at some point. When my next door neighbor wanted to renew their lease this year, the landlord insisted that they switch over to month-to-month.

When I had a drainage company out looking at my property last spring, they recommended that if I could hold out until the lot next to mine got redeveloped, that would be ideal for 2 reasons – 1) better confidence of long-term success, since things could change a lot when a large new house gets built next door and 2) I could likely get the developer to split at least some of the costs with me.

So the question is, what do people think I could do (if anything) to encourage the landlord next door to sell to a developer sooner rather than later? I’m SURE they’ve had offers, because every owner of an older home on my street has, too. The 0.4 acre lot is probably worth somewhere around $350-400k.

Should I tell them I’m planning to go to the city or plan to sue to try and require them to do something about the water that dumps from their lawn into mine? I don’t really think I can force them to do anything, but perhaps saying “I’m gonna be a pain in your ass and create a hassle you’d have to disclose if you don’t sell to a developer in the next 90 days” could be enough of a nudge.

I don’t think it’s worth enough to me to offer them enough money to convince them to sell… but if maybe $1-$3k thrown their way might turn things, that could work out.

submitted by /u/thefutureofamerica
[link] [comments]

I live in a neighborhood that is rapidly turning over from its original 1950’s slab-on grade ranch houses of ca. 2000-2500 sqft to new, 1.5-story 4000+ sqft homes with basements. Since I moved in back in 2017, there are 10 new builds on the street out of about 60 homes, and another 3 under construction. I also live on the lowest elevation lot on the street, in one of the older homes that I want to stay in long-term. We have some significant drainage issues around our house, and we’re planning some significant work to correct those issues. The house next door to mine is a rental house that definitely gives the impression that the landlord is looking to sell at some point. When my next door neighbor wanted to renew their lease this year, the landlord insisted that they switch over to month-to-month. When I had a drainage company out looking at my property last spring, they recommended that if I could hold out until the lot next to mine got redeveloped, that would be ideal for 2 reasons – 1) better confidence of long-term success, since things could change a lot when a large new house gets built next door and 2) I could likely get the developer to split at least some of the costs with me. So the question is, what do people think I could do (if anything) to encourage the landlord next door to sell to a developer sooner rather than later? I’m SURE they’ve had offers, because every owner of an older home on my street has, too. The 0.4 acre lot is probably worth somewhere around $350-400k. Should I tell them I’m planning to go to the city or plan to sue to try and require them to do something about the water that dumps from their lawn into mine? I don’t really think I can force them to do anything, but perhaps saying “I’m gonna be a pain in your ass and create a hassle you’d have to disclose if you don’t sell to a developer in the next 90 days” could be enough of a nudge. I don’t think it’s worth enough to me to offer them enough money to convince them to sell… but if maybe $1-$3k thrown their way might turn things, that could work out. submitted by /u/thefutureofamerica [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!