Real Estate Finance Advice Needed

You really can't use that excuse, there are 10-15 recent threads asking what should I be looking for in a place. You have even posted on many, I assume you read the other replies as well because you stated "good advice" on many.
Zoning comes up on every one of them.
Due diligence is the buyers responsibility at the end of the day.

I enjoy your threads on real estate, Bill.

New folks can see the threads and learn along with all of us.

Your threads do kinda remind me of a Steinbeck novel, 'Of Mice and Men', but I enjoy them.

That intrest rate is in line with what banks charge for regular loans. You can do better if you are contributing more down payment, intrest rates reflect risk, and if you keep your downpayment low and finance a lot, the risk and intrest rate will reflect that. The ultra low rates you hear of are for cookie cutter town lots with cookie cutter house on them. Real property you can use for doing stuff comes under a different rate. Rural lots and homesteads are just different, and they fall under a different loan package, typically a bit higher.

Paul

CR. That's MY story an im stinkin to it lol

R. Yup. Who knows how many people havnt felt the need to post real estate questions in here. partially cause of alla the negative comments ive got doing mine, and partially cause alla there questions got well answered while someone else took the heck* for asking them lol. Sall good.

Im HOPING that the owner can do something to get the property redisignated. Im in no hurry to move NOW, till spring, so the time is on my side. IF by spring it does or dosent happen, and nothing else shjows up, I might take it anyhow. I don't intend to run cows over large portions of it, just a couple milk cows in either a barn lot or eating off the barn yard, and a doz or so dead of winter calves in a lot, and a couple hundred chicks to chickens a hundred at a time. Maybe rabbits again if I ever find any money in them again. That and planting 5 acres of corn and hay would be it. Whoevers had it in the past kept horsers, and theres a pipe chute?/tiny lot near the barn for something. To narrow I think for horses

Did you put any money down before you discovered the zoning issue? My concern would be that if you did and didn't make zoning a condition of sale, you could very well end up losing some hard earned money.

Nope
No money down

play all you want...

http://www.mortgagecalculator.org/

Bill...........you are going to take it maybe even if its NOT rezoned , and raise animals there?

What part of "you can't DO that" aren't you getting?

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Somebody did it in times past evedinced by the pile of horse crap in the barn Sides I wont take it till spring IF I take it, hoping for something else to show up,.
Theres a 6 with no house that im going to look at sooner or later. A 6 that's all in one piece would be as good as this 10 with a creek on it.

It would be unwise to buy property not zoned for agriculture and use it got ag purposes. You may get away with it for a while but sooner or later, you're going to lose the ability to make a living.


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yeah, in the back of my mind, I know that. Hence the looking at the 6 acres. Around the same money $33.000

If you get caught with the animals, then they would be watching you, and you would be stuck with a house that you cant do anything on

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Ever think of they MAY have been Grandfathered in? But they were Not anyone after that. When the zoning may have been changed, you have to check into that. Just because you see manure around does't mean YOU can do the same thing there now. And if you go and put animals on it you are asking for a heap of trouble without knowing for sure.

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Local town had a no livestock rule for decades. Town of 15,000.

One day a person complained about a horse in town.....

Ended up, the complainer wanted to have a horse, and was told no. The horse he complained about was 25 years old, been in a quiet corner of town all its life.... Owners gave kids free rides, kept their place up well no mess, active in the community with pitching in.... Neighbors all liked the horse around.

City council had a pr problem on its hands then.

They crafted a new rule that grandfathered in that one horse....

Paul

yep Rammer, That could be. This being Okla, I don't think anybody cares if someone keeps a horse or 2 away ferom the community even if its in city limits. The adjoining arena is in city limits

FBB, the arena would be zoned as recreational property and as such would be taxed much higher so it would be unwise to assume that you can sneak livestock into an area that is not zoned for such.

Which is why im looking at anything that comes along, WHICH AINT MUCH.

I would get together with some of your city council members, get friendly, see what it would take to get a variance. It well could be that nobody really cares, since there were critters there in the recent past. Not only that, having friendly faces on the inside of city hall is never a bad thing. Coffee and BS is cheap. Its getting up close to the time of year that I bake up a bunch of punkin spice cakes and sweet tater pies, take them all around town... banks, government offices, lawyers.... Ho Ho Ho and like that. When issues arise later in the year... its amazing how those clerks and officials can get things done, and overlook details that could have caused problems.

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#1. I don't live there. I live around 90 miles away.
#2 The owner lived there. I would suspect that she has/had more clout than I there and would likely get that done if they were willing. I thank you for mentioning the variance, as I had thought of that, and am waiting out winter thinking that the owner might be able to swing that.
#3 IF I cooked anything for the city council, they would have me up for murder. I DONT COOK.

If I were to consider purchasing such a property, then I would definitely make the acquisition of a variance as part of the contract. There are fairly strict rules that cover the granting of one, but the current owner might be able to get one if you actually show up to the hearing and state your reasons and intentions for the property.

The current owner should state that the property setup makes it unattractive to buyers with the current zoning and that it is becoming a hardship. As the potential buyer, you should be prepared to state how many animals you plan to have and how you will keep them from infringing on the rights of others. If you have any qualifications in animal husbandry or care, then you would also want to tell the zoning board as it demonstrates that you actually know how to do the things that you are proposing. The current owner should also talk to any neighbors and get their take on the situation. If they don't care, then he should get them to sign a letter to that effect and/or show up for the hearing to speak on behalf of the plan.

If the variance falls through, then the deal is dead. This isn't a situation where you're likely to gain any benefit from going ahead with your plan and then asking for forgiveness later. What you'll get is heartache and monetary fines until you remove the animals.

Edited to add: I currently serve on my local Board of Zoning Appeals and we have precious little sympathy for folks who install things without a permit. We have absolutely NO sympathy for those who knowingly install things that are against the city's rules!

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THANK YOU. I will relay that to the agent.