By Anonymous - 28/06/2012 16:53 - United States - Fallbrook
Add a comment - Reply to : #
I would have done research with the town first. With any kind of construction you want to talk to people about ordinances first. The realtor just wants to sell sell sell.
In his defense, he may not have access to a support system of people who can advise him on what to do in these matters. Knowing about restrictions and where to get information is not really something people are born with, and personally I wouldn't have a clue. Most likely he would have asked the real estate agent if there is anything further he needs to know or organise and just not been given all the information. That said, if you didn't read the contract and it is in fact on there...YDI.
That sucks, but land is an ever decreasing commodity. Give it time and it will be worth something (you hope)
That's covered under real estate disclosure law...but that is a ridiculously cheap lot and too good to be true usually is.
Cheap? Well I guess maybe where op is. Here you can get a house for that price in decent shape... You will just be miles from anywhere. My 25 acres with 1500sqft house, barn and sheds was $56,000. So cheap is all relative. However... Real estate disclosure law is a tricky thing. If op was told they could build and they can't, and it was written in the legal papers, op does have legal recourse. If op bought it without asking first if they could build and just assumed that, they are screwed.
Could always build a paintball course and get revenue from that
A lot of areas make building a paintball field near impossible. I've worked with many on doing their websites and it's always the same story if they want a new location or want to expand. There is a lot of misunderstanding about the sport, and small minded people are actually against the fields. Just another case of people complaining about people getting in trouble, but trying to kill off anything decent for them to do. Probably the same people who complain when someone rides a bike or skateboard down the street.
if the information was not readily available you can rescind the contract
I've only purchased homes myself, but the truth is, I use a real estate agent to lead me in the right direction. I tell them what I want, what I don't want like HOA's and let them help me find it. Yes, I try to do as much research as I can on my own, but they are the ones who often do the deed searches and everything else. It is, after all, one of the main reasons why you go with an agent when searching. If the agent purposely covered up info, then I feel for op. If op was new to buying and didn't know what questions to ask, I again, feel for op. But some people don't ask questions and then don't get information that is key. Dealing with real estate can be extra tricky in this economy as well. I have always purchased insurance just in case something went wrong and I was misled on the property though. Not really sure what it does since I have only purchased two homes and both turned out to be what I was led to believe.
Meh, maybe there's something else you can do with it. Dirtbike track, underground bunker...missile silo?