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Buying or Selling a Home/Selling - Problem with Neighbor

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Fellow Expert in another category here.  Thanks for your help.

We have been preparing our home to list and it is just about ready now.  Our neighbor decided in the spring to replace a retaining wall downslope from our property and excavated out the wall, but nver got around to doing it and the five foot cliff still remains along our 40 feet of shared property line. He has been traveling but claims to be willing to finish it "soon".  

My question is can I demand a bond from him to provide a buyer, insuring that there is a fund to complete the wall if the neighbor does not do it timely?

I can see that any buyer will be reluctant to buy into a property with only some vague promise to take care of things, and inherit a potential lawsuit, and will want the matter resolved before buying, or want some legal assurances.

Any recommendations??

Answer
You can demand whatever you choose, Tim, but if it were me, I would advise the neighbor in a letter that is delivered by certified US mail that I am having the work done. I would take him to small claims court if no payment is completed. If nothing happens within 30 days, I would then have the work completed, then demand payment from the neighbor. If no payment is forthcoming, I would then take the neighbor to small claims court.

If you are expecting satisfaction sooner than the above, then you are being naive.

I wish you well.

Dick Dennis, California broker
dixiedee13@gmail.com  

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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