News - Contract is in place

Ecodale is at it again.  We have settled to an agreed upon price for another 10 acre lot.  This lot does not have a shared well like the last lot did.  However, there are also no deed restrictions that limit us to any building committees for our home, and this will allow us to build out our home at our pace.

We are  very excited and hope to have some things moving along and a closing date by the end of the week.  Of course pending the appraisal.  If the price we agreed upon is higher than the appraisal value, then there could be a point where we need to renegotiate.  This is because we are only willing to pay for the land what the fair market value is appraising for currently.  Once the lender gets the title commitment this week, and proceeds, we will know more after the appraisal is completed.

We might need a survey if we are still in the game after that.  The good thing about a survey is that it will help us determine what the boundaries on the property are.  This way we can setup a perimeter and know for sure exactly what is ours.

The drawbacks to this property are that there is no well, no septic, no electric meter, no driveway, and a small portion on the back of the property is in the 100 year flood plain.  I don't really see any of this stuff as a problem but there will be quite a bit of work that will need to be done so that we can move onto the property.

Stay tuned... we will update as soon as we have some information.