Changing the angle or shape of a lot line between properties seems easy, but it is actually somewhat complicated. Involving quite a few professionals from a variety of disciplines plus the county, the process takes a lot of time, longer than you probably imagine.
Where we run into the most trouble is when homeowners also try to sell a property that is involved in a lot line adjustment that isn’t finaled yet. The timeline to final county approval, recording with the county and preparation of new title reports is murky at best, several months at least. This unknown timeline can scuttle a sale transaction in process due to buyer time constraints, and that’s before we also pile on lenders that need to approve the new lot line of a property they already hold a collateral interest in or will after the purchase closes escrow.
Homeowners do lot line adjustments for many reasons i.e. getting more land to offset encroachments, for compensation giving or receiving land from a neighboring property or incorporating a barn or other structure into one parcel or the other.
By watching this very good and easy to understand video by our own John Renwick of RE/MAX Gold you can easily see that lot line adjustments can work beautifully. But it’s best to start the process well before you plan on selling the property and then, make sure the lot line adjustment is finaled before putting the property on the market.
If you’d like more information on lot line adjustments, or any other real estate information, don’t hesitate to reach out today! At the Betsy Hamilton Real Estate Team, we’re all about helping you feel right at home!