What is the name of your state?What is the name of your state? Alabama
We recently purchased a two-story home in a beautiful old neighborhood built in 1940. It's on a circle of 12 other like homes originally built almost identical for military officials. They are all two story white houses. The inside of the circle is and always has been empty. It occupies about 10 acres. After the war, the government sold these homes and the land around them to the public. The current owners of the land inside of the circle have decided to auction it off. They didn't notify any of us owners to see if we wanted to purchase the land. I would gladly have refinanced my house to purchase the land had I known it was for sale. However, I can't meet the terms of the auction bid process because of the high amount of cash needed for earnest money. If I fail to be able to buy this land, are there any options we can implement that would keep some naive developer from trying to develop the empty land, which would destroy our property value. The empty meadow is like a lake. It's always been the reason people want to live there. Does a neighbor association have this power, if so, how do we form one? I really need your advice. We only have three weeks. Thank you.
We recently purchased a two-story home in a beautiful old neighborhood built in 1940. It's on a circle of 12 other like homes originally built almost identical for military officials. They are all two story white houses. The inside of the circle is and always has been empty. It occupies about 10 acres. After the war, the government sold these homes and the land around them to the public. The current owners of the land inside of the circle have decided to auction it off. They didn't notify any of us owners to see if we wanted to purchase the land. I would gladly have refinanced my house to purchase the land had I known it was for sale. However, I can't meet the terms of the auction bid process because of the high amount of cash needed for earnest money. If I fail to be able to buy this land, are there any options we can implement that would keep some naive developer from trying to develop the empty land, which would destroy our property value. The empty meadow is like a lake. It's always been the reason people want to live there. Does a neighbor association have this power, if so, how do we form one? I really need your advice. We only have three weeks. Thank you.