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Re: How to deal with irregular and rogue properties?


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Posted by TimV on December 01, 2016 at 15:43:25 from (74.78.234.72):

In Reply to: Re: How to deal with irregular and rogue properties? posted by wilson ind on December 01, 2016 at 15:21:49:

A co-worker has a square inch in Lynchburg, TN, if I recall--some sort of Jack Daniels promotion from 25+ years ago. He'd get updates on "his" land every so often with such pieces of "news" as saying the neighbor's bull had got out and ran over it--usually accompanied by some promotional discounts on Jack Daniel's products, of course. Here in NY, I've seen a few problems with tiny bits of property that were next to, or landlocked by, other ones, including a couple that came up for tax sale and were bought up by people without doing any research--they just saw a listing for a piece of property and figured they'd get it cheap. One involved a young couple who where trying to buy a quarter-acre or so that adjoined their property--nothing special, and it was landlocked at the back of the property. They main reason they wanted it was they found out after they bought the place that the previous owner had built the garage partly on this little chunk. The sale started off at a few bucks and then two people, neither of whom were the owners of the adjoining home, got "auction fever" and bid up this tiny little chunk of practically worthless land to several thousand dollars--several times its actual value--leaving the homeowners in the dust and quite upset at the prospect of the new owner of the corner of their garage wanting it gone. That one ended up turning out all right in the end--if I recall the details correctly, they approached the new "owner", who by this time had figured out he'd bought a pig in a poke, and were able to settle it amicably--I believe by the homeowner paying the back taxes before the new "owner" finalized the sale, and then negotiating a fairer puchase price.


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