How Difficult To Get An Easement?
I am about to contract on three multiple family poperties. The properties are on separate parcels but are currently owned by the same individual. One has to go through one of the properties to gain access to the other two.
Currently it is not a problem since they are all owned by the same pesron, but I want to know what it would cost to get an easement for the other properties that need aceess. Is this a huge cost and is it very difficult? The seller is not going to do the easement so I am trying to determine if this is a HUGE cost so it does not go unaccounted in our negotiations.
Also, given the situation is there anything else that I need to be concerned about here? My exit plan is to manage the properties for a few years and then sell them individually.
Any ideas, cautionary tales?
Thanks in advance.
JS.
Once you own all three properties it should not be too expensive or difficult to record new surveys with the appropriate ROW indicated and attached to each deed. Check your local codes for width and access requirements before having a survey. I have seen them added in private rural land sales with some regularity.
Jim
Once you own the three properties, but before you sell any of them, you should get a survey of legal access across parcel #1, complete with the legal description of the easement.
When you sell properties # 2 & # 3, the legal description would read something like..... "back to the point of beginning. Along with an an easement described as follows: (insert legal description of easement)"
Thus, you have restricted the owner of parcel #1 from building upon, or impeding flow of traffic thru that strip of land described as an easement. And you now have deeded access to your other parcels. Just be sure the easement is of sufficient width to permit future possible development of parcels #2 and #3. And it would be a good idea to specify who is responsible for maintenance of this tract.
The cost is minimal to do all this as long as you own all 3 parcels.