InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Code References 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Farmland lease option Posted by Joseph on August 18, 2006 at 9:38 AM In Reply to: Farmland lease option posted by Sara_CA on August 17, 2006 at 2:15 PM If you do a lease option, I'd limit the time period to one year. I'd also put some language in the option regarding the price under the current zoning and rezoned to a higher and better use to protect yourself. However, a lease option won't rid you of the land as is your desire. I also have a feeling that the "buyer" won't want an option. What happens if a well-qualified prospect comes along while the property is under option. You can't sell the property to him and you have no guarantee that the optionee will ultimately exercise his option. Granted you'll have his option money in your pocket, but I don't think that's what you really want. I think you should work to find a prospect instead of a suspect, so you might as well do it now. The current situation smells bad, and I don't think the odor will improve until the suspect vanishes. You're trying to make a prospect out of a suspect. Why don't you find an excellent RE zoning attorney and see what your chances are of having the property rezoned. You many have to go to Fresno to find a suitable attorney. If you can get the property rezoned, it's valued could be 20-25 times it current worth. I'm not a zoning expert, but I do know if you have the money, the time, and a good zoning attorney you have a decent chance of changing zoning. More work than you probably want to do, but if you can afford the upfront expense it will be a bonanza if you can get it rezoned. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : If you do a lease option, I'd limit the time period to one year. I'd also put some language in the option regarding the price under the current zoning and rezoned to a higher and better use to protect yourself. However, a lease option won't rid you of the land as is your desire. I also have a feeling that the "buyer" won't want an option. : What happens if a well-qualified prospect comes along while the property is under option. You can't sell the property to him and you have no guarantee that the optionee will ultimately exercise his option. Granted you'll have his option money in your pocket, but I don't think that's what you really want. : I think you should work to find a prospect instead of a suspect, so you might as well do it now. The current situation smells bad, and I don't think the odor will improve until the suspect vanishes. You're trying to make a prospect out of a suspect. Why don't you find an excellent RE zoning attorney and see what your chances are of having the property rezoned. You many have to go to Fresno to find a suitable attorney. If you can get the property rezoned, it's valued could be 20-25 times it current worth. I'm not a zoning expert, but I do know if you have the money, the time, and a good zoning attorney you have a decent chance of changing zoning. More work than you probably want to do, but if you can afford the upfront expense it will be a bonanza if you can get it rezoned. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2006, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455