So, just as my wife and I had finally gotten the cash together to buy a piece of land, we find out that it had been in contract with someone else, there is still a chance it wont close next friday, but seeing that it was also a cash offer I doubt that.
The story was, as of this past friday it was still being advertised for sale (not contingent or pending or anything), I talked with our realtor stating we wanted to put in an offer and she emailed their realtor but never got a response. I found out sunday that the status had changed to "contingent" and both my realtor and I had been trying to get ahold of the other realtor and we FINALLY heard back from them today. The property was owned by a church, so it had to first be approved by council then brought before the church for a vote, and that vote happened Sunday. So apparently it had been semi-approved for a few weeks at the point we wanted to make an offer. My question is though, isnt the contract technically not approved then until the church votes on it? And if that is the case, had their realtor responded in time couldnt they have had 2 contracts to vote on instead of one? Either way, I think I am basically out of options on that piece of land unless it miraculously falls through next friday.
So my real question is this, my wife and I (me more then her), were really looking forward to being able to do our own build/design instead of a tract builders design (and what we were going to do was going to be a lot stronger and more energy efficient as well). I am really leaning towards building as opposed to buying a house already on the market (not a ton of good houses, lots of compromises and risks of close to maxing our budget and then having issues to fix).
This leaves us basically with 3 options
1. Land that is a bit further from the city (fine by me, not so much the wife, so obviously the least likely option)
2. Building in a new development in the part of town we want to be in.
3. Appeal to home owners that currently own land (mostly farm) to sell us an acre or two and then get it re-zoned to residential, this would allow us to get land where we want and build what we want.
What option would you try to pick? I am leaning towards #3, but feel I would be terrible at trying to get a land owner to sell me 1-2 acres of their 100+.
The story was, as of this past friday it was still being advertised for sale (not contingent or pending or anything), I talked with our realtor stating we wanted to put in an offer and she emailed their realtor but never got a response. I found out sunday that the status had changed to "contingent" and both my realtor and I had been trying to get ahold of the other realtor and we FINALLY heard back from them today. The property was owned by a church, so it had to first be approved by council then brought before the church for a vote, and that vote happened Sunday. So apparently it had been semi-approved for a few weeks at the point we wanted to make an offer. My question is though, isnt the contract technically not approved then until the church votes on it? And if that is the case, had their realtor responded in time couldnt they have had 2 contracts to vote on instead of one? Either way, I think I am basically out of options on that piece of land unless it miraculously falls through next friday.
So my real question is this, my wife and I (me more then her), were really looking forward to being able to do our own build/design instead of a tract builders design (and what we were going to do was going to be a lot stronger and more energy efficient as well). I am really leaning towards building as opposed to buying a house already on the market (not a ton of good houses, lots of compromises and risks of close to maxing our budget and then having issues to fix).
This leaves us basically with 3 options
1. Land that is a bit further from the city (fine by me, not so much the wife, so obviously the least likely option)
2. Building in a new development in the part of town we want to be in.
3. Appeal to home owners that currently own land (mostly farm) to sell us an acre or two and then get it re-zoned to residential, this would allow us to get land where we want and build what we want.
What option would you try to pick? I am leaning towards #3, but feel I would be terrible at trying to get a land owner to sell me 1-2 acres of their 100+.