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Am I being reasonable or paranoid?
[Sorry if this isn't exactly the right group... but the legal and real
estate groups didn't have much traffic.] I'm looking at buying 10 acres of undeveloped brush country in the southwestern USA for $50,000, a triangular-shaped parcel that is contiguous with 13 acres I already own. The seller is a local developer who means to put in a subdivision, and I want a buffer between my property and the new development. This developer has a local reputation of somewhat unscrupulous and the few dealings I've had with him have not disabused me of that notion. The first contract he sent me called for $10,000 non-refundable earnest money that he would be permitted to cash before closing, a 15-foot utility easement around the PERIMETER (huh?)of the property, and numerous deed restrictions not to be revealed until the time of closing. My lawyer (who seems to be intimidated by this man) and I made some changes to the contract, first refusing any utility easement at all. The seller has over 700 acres next to the 50 he is selling me, and he can jolly well put his utilities on them. My lawyer also got him down to $5,000 earnest money, but he still wants it to be non-refundable. I told him I would put down $1,000 if he insisted it be non-refundable, but if he wanted $5K, it would have to be refundable if the deal doesn't go through by reason of some act of God. Closing is Sept 16 (today is August 22), and I plan to pay cash. The seller gave a little on the utility easement. Now he wants a 15-foot wide strip to go across my 50 acres from the utility pole currently existing next to my house, instead of pulling his utilities from the main public road. I'm not even sure this is legal. He has told me these items are non-negotiable and I don't know if my heebie-jeebies about the earnest money and the easement are reasonable or not. I do know I don't like being bullied. I first approached him about this deal back in March and he put me off for months with "we're not ready to do anything with that land yet." I think I established that I'm serious about buying. Suddenly he's ready to sell and wants my decision by noon tomorrow. Do his requirements sound reasonable? (Thanks.) |
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