re: "So that's the catch, can't build a house on it by law and it can't be subdivided for resale by law."
Yep! That's quite a catch! Actually, I received an e-mail from the lawyer this afternoon. His early guess is that the likelihood of a variance being issued to get past the ordinance is very good. I'll apparently have to combine the two smaller tracts (out of three) since the small one has the frontage and the mid-sized one is where I'd be building. No telling what that will cost. I might need to get the land re-surveyed. The contract will need to be written so that closure is contingent on the variance being approved.
re: "And it will be denuded of trees or would the sale prevent that?"
Once the offer is accepted, the current owner can't have the land logged. There is a standard clause that prevents any significant changes between offer acceptance and contract closure.
re: "I guess you are not concerned with resale?"
No. When I'm gone, the land will go to my wife. Then to my son. Hopefully, neither of them would ever be dumb enough to sell it.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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