We found a beautiful 2.5 acre lot on the west side with the mountains almost literally in our backyard and yesterday we wrote the earnest money check and were about to write up the contract when our agent tells us she's "waiting for an addendum" (Uh oh) An addendum before we even make an offer? Greaaat.
So we get the addendum and it is a doozy. A "no more deal tear up the check doozy." To summarize, we pay X for the land and X isn't cheap btw, but we pay X for the land and then we... drum roll... don't actually own what's underneath it. And even worse, the State can come and mine your property, put oil derricks and any and all other kind of oil infrastructure and you can't do a damn thing about it. And you don't get anything for it either. Not that that makes any difference but I am so so very bummed. See apparently there's gold in these there hills and oil and coal and other good stuff that the State wants even though you pay for the land. There's a plus when it comes to having a husband who has dealt in the oil industry for the last 30 years. And he found shady stuff like this. Turns out a petroleum company bought 21,000 acres over a decade ago in hopes of mining it for oil but since oil prices are down they haven't done anything with the land YET. And the document my husband found specially mentions the cross streets to the neighborhood we WERE looking in.
Crazy thing is that other people recently have bought lots in that neighborhood and there are homes already built and being lived in. So is the addendum new? Did the other people just read the addendum and not understand and signed their rights away? Because it is bad. Very bad. And I am bummed. Very bummed. It was the first time I got really excited about a house. Building one, that is. And saving pins on pinterest. So now I'm back to square one. The homes that are on the market are old, ugly and don't even have views. I'm just discouraged.
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