Land Deal ~ Part I of IV (or more) A Tale of Two Townships

Call me crazy, but I am currently happily involved in a transaction involving the purchase of over 100 acres of land. This transaction has been a minefield of challenges and concerns, yet I enjoy it. I enjoy challenge. This is the first in a series chronicling those challenges and concerns.

A Tale of Two Townships

My buyer client came to me with what sounded like a simple request. He wanted to make a cash purchase of 100+ acres, to be developed as a 60+ unit subdivision. I searched diligently for properties that fit his criteria, and we found what we thought was the perfect situation. It was land that had in recent times been subdivided into three smaller parcels. Currently, all three parcels were up for sale, two deeded parcels were for sale by Seller A, and one deeded parcel was for sale by Seller B. Surveys confirmed the three parcels had at one time been one farm. By purchasing the three properties, my client would simply be reuniting the three.

But of course there was a hitch. The three parcels are in two townships. The township line runs between the two parcels owned by Seller A. I checked with each township concerning their building codes, and sure enough, they are different. Land in two townships means two sets of building codes, and having two distinct building codes to consider is not something this developer wants to deal with. However, by purchasing two of the three properties, those two that are in the same township, my client would still achieve the acreage he requires. My client was now interested in purchasing Seller B's property and one, but not both, of Seller A's properties.

Coming Soon

Land Deal ~ Part II of IV (or more)      The Language of Land