Vacant Lot?
The earlier post about purchasing a vacant lot got me to thinking. How does one go about finding out if there are any problems with a lot that had a house on it but was demolished? I know there is the PropertyShark.com site that allows you to see if there are any outstanding violations, etc,…
The earlier post about purchasing a vacant lot got me to thinking. How does one go about finding out if there are any problems with a lot that had a house on it but was demolished?
I know there is the PropertyShark.com site that allows you to see if there are any outstanding violations, etc, but what about things that might not show up on a report like a faulty sewer system or whatever?
Short of asking neighbors, is there a city agency that records such issues?
Thx “alterboy.” Very helpful info.
I did check out PropertyShark.com which gave me the last price that the current seller paid along w/ the violation and environmental issue history. I am assuming that was a Phase I that you mention. Thankfully there are no environmental issues. There were some violations regarding the owner’s fence that fell down and he was served several fines.
I also called the Dept of Planning & Zoning and they gave me the FAR and buildable size etc. along with the setback reqs etc.
The way you evaluate an empty lot is 1) hire an architect to do a zoning analysis so you can determine what can actually be built on the lot; and 2) order an environmental Phase I Property Assessment. This type of assessment includes site inspections, risk assessments, database searches, property history, locations of known waste sites, and violation history.
You may hear about a Phase II assessment which may help you to determine if there are old fuel tanks, etc in the ground. You should start with Phase I and see if there are any red flags leading you to consider a Phase II assessment.
Not sure, but maybe a real estate attorney could help. I have some contacts that may be of help. You can email me for their contact info: esegal(at)primerica.com