Would love to see more of this! |
Eminent domain, baby
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He’s going to decrease the value of the property for himself and future owners. If he wants to maximize his price he won’t do this. His realtor should talk sense into him for their own benefit. |
Uh, I think the seller is well aware of what he's doing and is motivated by more than maximizing profit. |
Will it stand up to legal scrutiny? |
I don’t see how. Covenants like this are only valid in HOA communities. I doubt the seller is going to even try to sue you…it’s not anything the city will enforce. |
This is a crummy house for over a million. There is no middle here. Only upper rich. |
Yup- it's like a unilateral contract. |
This is what you said to try to make a case for Missing Middle, but it’s simply not true. Developers want cheap properties in order to make the MM numbers work. You are still able to rip down a house in Lyon Village and get 3+ million for a new build. Lots of profit and next to no risk. Unlike building MM. No one knows if the MM numbers are even going to work here in Arlington. Meanwhile, plenty of developers are comfortable building single family homes. I’m so sick of all the lies MM advocates, oh excuse me EHO advocates spew. It’s not called Missing Middle anymore because the housing isn’t really for the middle class to be able to own houses like it was sold to all the dumb millennials - it’s just apartments in neighborhoods far from transportation and grocery stores. Such a farce that even Arlington County was like “Opps, we better rename the initiative!” |
More specifically: https://carlsondash.com/is-that-restrictive-covenant-enforceable/ "In most jurisdictions, when an owner no longer holds title to land that is benefited by a covenant, that former owner is no longer entitled to enforce it." Just because the former owner likes the idea of a single family house being on the property forever, they don't have any right to enforce it. An HOA of neighboring property owners, however, does have direct related benefit, and thus have enforceability. One way the seller could possibly do this is if he owned the house next door also, and maintained ownership of that one. |
They needs to include the neighbors on the covenant if they want it to be enforceable. Get a neighbor or two to enter into it, so they can’t revoke it after the sale. |
Exactly. |
No HOA is needed gif a covenant to be enforceable. A neighboring property just needs to be part of the covenant agreement so they have standing to sue over it. |
No, all the new owners have to do is submit for a variance wit the county to subdivide. talk to a local real estate lawyer before purchasong |
The covenant is absolutely enforceable if he gets another property owner in the neighborhood to sign onto the agreement. |