Question about demolition

[linkwrayfan]

This may be a bit off topic but perhaps some might have some experience with this:

Last week my next door neighbor had a bad house fire. They don't plan to rebuild and i mentioned i might be interested in purchasing the lot. Both lots are about 50x130 and i like the idea of doubling my yard plus i worry some investor may put in a duplex if i don't buy it first. (It's an older city block with homes built in the 20s and 30s)

He said he would sell it cheaper if i was interested in taking it "as is" vs. him handling the demolition/clean up. I'm not quite sure what to offer. The tax value of the land is $10k ($62k including house). He only paid $32k one year ago as house was a foreclosure. It was insured for about $40k.

I like the idea of getting it for less $ but don't want to end up paying too much for demolition costs. The house was built in 1925, wood sided, pier & beam foundation approx 1500 sf.

I plan to contact the city monday to see what is required for demolishing etc. If anyone has any advice i sure would appreciate it!

 

[Tweeker]

$100 bucks and you inherit the $10,000 cleanup.

 

[WQ59B]

Seems a good place to start is the value of the lot (MINUS any structure), minus the cost of the clean-up. In other words, about what Tweeker said.

 

[WhiffySpark]

Couple cans and an excavator with thumb. I'd probably do it for around 5k be done in a day

 

[linkwrayfan]

Thanks for the replies. I wonder if the costs would be that much though (10k). I quickly did a search and saw costs ranging from 3-8k. I was hoping this would be on the low end since it's a small pier & beam structure. You never know though!

I guess i have to decide if it's worth 10k to me. I really would enjoy having a wider lot as the houses are close together. My two dogs sure would like it too! Another bonus would be actually having room to build a garage. All i currently have is a single carport and an 8x10 mini barn

 

[HoosierMark]

Consider it as an investment. You can hold it for a while and see if you like owning it. If not sell it to someone else and you can pick your neighbor. The key is to get control of it while it is available and then determine what you want to do with it. Could you split the lot with the neighbor on the otherside for example?

 

[Tweeker]

Its not just the muscle of cleanup but possible expensive asbestos,septic etc cleanup or hazardous waste disposal that may be costlier than imagined. If you speak to a demo expert he will advise best. Totally worth it to a point for the space and peace.

 

[starquestMM]

Sounds like a great opportunity for you. If you let it slip by worrying about a grand or two, you'll probably end up regretting it.

 

[ddawg16]

I would talk to the city first. I kinda doubt they will let you keep the lot empty. No home means less taxes to collect.

And, a house that old, asbestos is a good possibility. Depending on where you live, that clean up could get expensive.

 

[rsanter]

Get estimated from companies.
You neighbor may already have and know the cost and want to see what you will pay

Bob

 

[James-W]

Personally, I think $10K is probably a bit on the low side. I suggest you let that guy do the clean-up and then you buy the property. But as has been mentioned, check with the city to make sure you can use the property as a lawn and not build a house on it.

 

[BDT/NWMN]

I would talk to the city first. I kinda doubt they will let you keep the lot empty. No home means less taxes to collect.

And, a house that old, asbestos is a good possibility. Depending on where you live, that clean up could get expensive.

How could the city force someone to build a house?

 

[75CrewDeutz]

If the lot is an investment then the value of the lot when vacant, minus the demolition and removal cost, minus desired profit equals what you should pay.

If it's a purchase for your desires then what would you be willing to pay for the lot and demolition.

Personally I like the first option. If some unforeseen thing comes up in the future and you need money then you can sell and get your money back.

 

[reader2580]

Who only insures a house for $40k? Could you even build a house for $40k these days with all the new building and electrical codes?

Anyhow, the contractor who remodeled my house says that EPA regulations have pushed the cost of demolishing a house up by quite a bit. If lead paint is involved you legally have to hire a contractor trained in dealing with lead paint. Usually plastic sheeting is placed on the ground around the structure to catch any paint ships that might come off. The EPA is treating lead paint chips like touching it will instantly kill someone.

Demolishing a single story house on piers can be a DIY project as long as you have machinery to load the pieces into dumpsters. I demolished a single story house with the help of two friends with tractors with front end loaders. I don't recall exactly how we cut up the house and pushed it over.

 

[captain14]

Some member just did that and had a thread about what he was doing. I do not remember the members name or his thread title.

Let the present owner handle the cleanup.

 

[linkwrayfan]

Who only insures a house for $40k?

The owner said they would only insure for that much because it was a foreclosure and had been vacant for 3 years.

 

[Vegaman_Dan]

It is a pretty rare opportunity to double the size of your land for such little money. I would love to take over the space to either side or behind my house for more vehicle storage / shop building, etc. Even having an empty space for the buffer room would be gladly accepted.

If you can afford it, don't hesitate. Make it happen.

 

[homebuilt burner]

I don't know where you are located but if there are Amish in the area they take down buildings for the materials. The towns and villages and DNR/EPA leave them alone as if they are afraid of them. They don't need/get permits or any testing done. At least that's how it is around here.

 

[deter]

depending on your location. $10k is about right to remove the structure/debris, remove the foundation, fill the ground in lifts so it doesn't sink, and remove services (gas, water, sewer, electric.

 

[Zeke]

Don't let an amateur demo the house. As mentioned, toxic and hazardous materials have to be mitigated first. If not done correctly asbestos and lead particles will be distributed all over the lot. Then it will get expensive to clean that up.