A seller has basically five parcels of land that were previously zoned as residential but he had them rezoned to commercial. There are two physical addresses: one address has an abandoned auto repair garage in the front and behind it a vacant house in need of repair. The second physical address next to it has a distressed house in the front, a work building behind it (that could be renovated into a single family residence), and an enormous lot behind the work building.
The seller wants 700k for one address and 800k for the other; I suspect that he bought this property and paid a hefty price, thinking he could sell it for commercial purposes. He’s had all of it on the market for a year.
I am interested in the two houses that need repair and possibly the work building, but the auto repair garage would need to be razed and I don’t need the enormous lot in the back.
My questions: if the two houses are in physical addresses that include other buildings/lots that I don’t want, how could I buy them separately? Can they be re-surveyed and split up? The seller said he would consider selling the houses separately, but I’m a new investor and don’t know how to tackle this?
Thank you for any suggestions.