What is the name of your state AR (only U.S. law)?
We just purchased our dream home less than a year ago. We live in a very nice, quite residential neighborhood that is still in the process of comming along. When we picked out our home, we were excited that the builder/developer of the land stated that the land behind our home would never be built on b/c of a creek that ran through it. It was a beautiful small stretch of acrage with trees, pasture and creek. Well much to my suprise when I looked out my window this morning! Now there is a huge red/white for sale sign listing the property as a commercial property.
I immediately called the realtor who had the listing and was told that the small acerage is for sale for over 400,000 dollars and has been for long before we moved there. He stated that the property owner's decided to become more aggressive about selling the property. The owner is not the developer of our subdivision according to the realtor. I have spoken with all of the neighbor's who's yard will directly back into this property, and thay are just as upset and angry as we are. We were all told the same thing by the developer of our subdivision and that was that nothing would be built back there. We were lied to.
We paid a heft price for our homes, and feel that something needs to be done to prevent this from happening. We even considered putting together an offer to buy the land, but there is no way we can pay that much!! We have put a lot of sweat and tears trying to make this dream a reality.
What steps can we take to prevent this from happening? Is there anything at all? I can not imagine a blinking neon sign in my backyard. This is not a dream home, it's a nightmare! Help!
We just purchased our dream home less than a year ago. We live in a very nice, quite residential neighborhood that is still in the process of comming along. When we picked out our home, we were excited that the builder/developer of the land stated that the land behind our home would never be built on b/c of a creek that ran through it. It was a beautiful small stretch of acrage with trees, pasture and creek. Well much to my suprise when I looked out my window this morning! Now there is a huge red/white for sale sign listing the property as a commercial property.
I immediately called the realtor who had the listing and was told that the small acerage is for sale for over 400,000 dollars and has been for long before we moved there. He stated that the property owner's decided to become more aggressive about selling the property. The owner is not the developer of our subdivision according to the realtor. I have spoken with all of the neighbor's who's yard will directly back into this property, and thay are just as upset and angry as we are. We were all told the same thing by the developer of our subdivision and that was that nothing would be built back there. We were lied to.
We paid a heft price for our homes, and feel that something needs to be done to prevent this from happening. We even considered putting together an offer to buy the land, but there is no way we can pay that much!! We have put a lot of sweat and tears trying to make this dream a reality.
What steps can we take to prevent this from happening? Is there anything at all? I can not imagine a blinking neon sign in my backyard. This is not a dream home, it's a nightmare! Help!