Pacheco, Both Buyer and Seller in Lake Placid, FL

For years I have been paying taxes for a lot that cannot be built on because it is a santucary. Now all of a sudden states forced me to sell.

Asked by Pacheco, Lake Placid, FL Wed Feb 29, 2012

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And Don has good point I did not think about.
0 votes Thank Flag Link Wed Feb 29, 2012
Why would someone want to buy it? This is the big question you need to find answer to.
0 votes Thank Flag Link Wed Feb 29, 2012
Is the state forcing you to sell to anyone? Or is it exercising the right of eminent domain--requiring you to sell to the state, probably at a price that it's determined.

My first reaction was that, if the lot can't be built on, then it may have little or no commercial value. If that's the case, are you sure you want to hold onto it?

Still, if you feel that it has value, or the state is offering too little, then contact a good real estate lawyer. Each state has its own procedures for seizing property and for determining the value it'll offer. It's often very difficult to stop the seizure, but you often can increase the amount being offered.

Hope that helps.
0 votes Thank Flag Link Wed Feb 29, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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