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Has anybody ever sold easement rights to a power/utility company?
Posted on 12/7/12 at 12:11 pm
Posted on 12/7/12 at 12:11 pm
I have a piece of property close to the Louisiana Boardwalk in Bossier. Maybe an acre that a rent house sits on. I guess because of Margarittaville they are having to replace old power lines with new metal ones. They have to move them further from the levee as well so they would need to buy easement rights 40ft wide and would run the legnth of the acre. There would be no pole on the property, just power line running over it a little bit.
I guess the AEP guy has been trying to get in touch with me for a while (all I had gotten was a letter) and he finally came to my house Wednesday. In the letter he made a formal offer of $750. We talked at the house and I got him to $2,000. But after reading the contract I told him I needed to think about it. He he had a pen and checkbook and was ready to cut the check then.
My thing is that even though I will still own that portion of the property, being a small portion I know, they can do whatever they want to it in the future and I can't stop them. Also, if somebody wants to buy it in the future, it's going to take away from the value I would image because it's now a useless portion of the land.
They have purchased the rights to almost all of the land around me and I can tell he needs to get this deal done because he's called twice since Wednesday.
Should I try and get him up more, maybe around $5000? Should I wait it out longer?
I know it's not a lot of money but I don't want to give it away if that's what I would be doing.
Thanks in advance.
I guess the AEP guy has been trying to get in touch with me for a while (all I had gotten was a letter) and he finally came to my house Wednesday. In the letter he made a formal offer of $750. We talked at the house and I got him to $2,000. But after reading the contract I told him I needed to think about it. He he had a pen and checkbook and was ready to cut the check then.
My thing is that even though I will still own that portion of the property, being a small portion I know, they can do whatever they want to it in the future and I can't stop them. Also, if somebody wants to buy it in the future, it's going to take away from the value I would image because it's now a useless portion of the land.
They have purchased the rights to almost all of the land around me and I can tell he needs to get this deal done because he's called twice since Wednesday.
Should I try and get him up more, maybe around $5000? Should I wait it out longer?
I know it's not a lot of money but I don't want to give it away if that's what I would be doing.
Thanks in advance.
Posted on 12/7/12 at 1:22 pm to iwyLSUiwy
It doesn't hurt to pose the concerns to him and ask for $10,000 specifically because the future value of the property is diminished. All he can say is No. Don't sell yourself short. 2000 to them is nothing so I would definitly ask for more.
Posted on 12/7/12 at 2:12 pm to iwyLSUiwy
Do you know any attorneys? I would consult one, especially to review the contract.
And if you got him from 500 to 2k quickly he really needs that easement. You can milk a good bit out of this.
And if you got him from 500 to 2k quickly he really needs that easement. You can milk a good bit out of this.
Posted on 12/7/12 at 2:19 pm to iwyLSUiwy
I'm not qualified to give you advice on your situation but I'd sure like for you to let us know whatever the results are when you finish.
Posted on 12/8/12 at 10:55 am to iwyLSUiwy
In FL, the state must provide you with an attorney if the state wants to acquire private property. Is it not the same in LA?
Posted on 12/8/12 at 2:10 pm to iwyLSUiwy
Get more $$$ and write into the contract the limitations on use you want. If you feel you need help with the contract hire a lawyer.
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