I am interested in property/land that has had two buyers fail to purchase because they could not get loans due to the access road being un-deeded (their banks did not like). Access road is 30 years and goes through two other properties.
The owner, who lives out of state, wants to move on the property and would (obviously) entertain a cash offer.
I see value because I do not have to compete with those making offers with loans. What do I need to watch out for? Any red flags? I am currently digging into laws regarding access roads — realtor said by law neighbors cannot block the road because it has been there 30 years. I know one of the neighbors wanted to sign on it (to make it deeded) but she was talked out of it by her son (sounds like he was worried of her getting taken advantage of).
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