How To Buy Duplex City Won't Allow Subdivide For Sale
We live in a duplex. The owner (a RE agent) has been willing to sell it to us, but the city won't allow her to subdivide off the duplex from the remaining 2 acres unless she brings in sewer and water. (It has a well & septic at present.)
She owns 3 blocks totaling about 5 acres here and intends to develop it (single family probably)... (she doesn't seem to be in any hurry but 2 adjoining properties are starting the process to develop.)
The only way I thought of to get control of property is to do a Lease Option and we look after it.
Is there any way for us to buy it on its 2 acre block and make some agreement to 'sell' the rest of the land (less the duplex block) back to her when she develops it?
We could work into our agreement that she or her developer covers cost of connecting this property to city, the survey and title, and other costs (?).
I think she might consider something like that as selling it to us would give her the funds to develop it.
but the 2 ac parcel, and grant her an easement for the land other that what the duplex is on??
I don't know if that avoids or solves the sewer and water problem, and does the seller trust you to do that unless it's in the escrow process.
An option to sell her the land in the future (how to do you pic value?)
If the ajoining are starting development, how long would it be b4 sewer and water are brought in for them?