Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
Bwlonge
Posts: 253
Joined: Wed Nov 22, 2017 6:36 am

Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bwlonge » Sun Sep 01, 2019 7:52 pm

I bought a duplex and on one side (the one I'm moving into) there's a driveway between my unit and my neighbors house. She had historically used the driveway because it was a family owned duplex, but her sister in law, the seller, kind of kept her out of the loop. However, I know my neighbor received some money from the sale.

The driveway is squarely in my parcel. She doesn't have any other parking available to her- her parcel is narrow and building her own would be tough. There is a winter parking ban where parking on the street is not an option.

I initially offered to rent her spots but she countered by asking if I would sell her the lot. I'm thinking about it, but 1. it's hard to find a configuration where I feel I have ample space for myself and future tenants, 2. I have no idea how much of a hit in value I'd take without the nice big driveway and 3. I don't know how much I'd want if I were to sell it. On the other hand, unless I rent her 2 spots, her and her daughter are going to be frigged during winter.

The square footage of the driveway is about 600sqft, about 10% the area of the total parcel. Sale price was 143k. One method would be 10%, so call it 14.5k. That's not really enough for me - feel like I'd be losing more in value. I could use cash, but not at the expense of lost house value.

I offered to rent spots for $50/each/month, but I'm having second thoughts about that because I lose a significant amount of parking and take on liability risk for pocket change.

What should I do???

HomeStretch
Posts: 4353
Joined: Thu Dec 27, 2018 3:06 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by HomeStretch » Sun Sep 01, 2019 7:56 pm

I would not sell the driveway as I suspect in an area with limited parking that your large driveway adds a lot of value to your property.

Rent 1 spot to her at fair market value if you have the room. If not, don’t rent a spot as it will impact your tenants.

Buckeye Chuck
Posts: 57
Joined: Wed Jun 05, 2019 8:54 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Buckeye Chuck » Sun Sep 01, 2019 8:00 pm

Were you aware of the issue prior to purchasing? You almost have to rent the space to maintain relations in good condition. Maybe add some type of liability waiver as a requirement.

Topic Author
Bwlonge
Posts: 253
Joined: Wed Nov 22, 2017 6:36 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bwlonge » Sun Sep 01, 2019 8:04 pm

Buckeye Chuck wrote:
Sun Sep 01, 2019 8:00 pm
Were you aware of the issue prior to purchasing? You almost have to rent the space to maintain relations in good condition. Maybe add some type of liability waiver as a requirement.
The seller negotiated in parking for her and I sent her the hold harmless agreement. I agreed to a year of parking if the agreement was signed. The seller did nothing with it and closed anyway. I met the neighbor and she heard nothing about it.

User avatar
Sandtrap
Posts: 10601
Joined: Sat Nov 26, 2016 6:32 pm
Location: Hawaii No Ka Oi , N. Arizona

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Sandtrap » Sun Sep 01, 2019 8:07 pm

1. Absolutely do not sell your driveway or space. You permanently reduce the value of your property. Forever. And it's sale-ability.

2. You can rent on a month to month basis. The problem with this is that if you ever want it back and discontinue the written rental agreement, there will be hard feelings because over time, they have become "entitled to it".

3. If you let them use the parking and driveway as a "favor", then again, over time, they become entitled and, again, you are the bad guy and have to apologize because you need it back.

4. So. No.

5. Your tenants are your priority.
Wiki Bogleheads Wiki: Everything You Need to Know

User avatar
prudent
Moderator
Posts: 7460
Joined: Fri May 20, 2011 2:50 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by prudent » Sun Sep 01, 2019 8:08 pm

If you rented her two spots, how much parking is left for you and any tenants? And would everyone be able to come and go as they wished without someone else having to move their cars out of the way?

I'm not surprised she wants to buy it instead of rent - her convenient parking is gone and she may have a chunk of money from your purchase available to pay for it. But if I'm the owner, I'm only offering rental spots, if that.

Do all the other neighbors have off-street parking available to them?

Jack FFR1846
Posts: 11745
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Jack FFR1846 » Sun Sep 01, 2019 8:12 pm

Do you have extra driveway space? No. So why would you sell? If a neighbor wanted to buy all the bathrooms in your house, because (insert sob story), would you sell all your bathrooms? I wouldn't think so.

In Boston, parking spaces regularly sell for $350k and have hit $500k. Ask $500k. If the neighbor buys, have a private driver bring you everywhere with the money.
Bogle: Smart Beta is stupid

Topic Author
Bwlonge
Posts: 253
Joined: Wed Nov 22, 2017 6:36 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bwlonge » Sun Sep 01, 2019 8:14 pm

prudent wrote:
Sun Sep 01, 2019 8:08 pm
If you rented her two spots, how much parking is left for you and any tenants? And would everyone be able to come and go as they wished without someone else having to move their cars out of the way?

I'm not surprised she wants to buy it instead of rent - her convenient parking is gone and she may have a chunk of money from your purchase available to pay for it. But if I'm the owner, I'm only offering rental spots, if that.

Do all the other neighbors have off-street parking available to them?
Other neighbors have driveways. There's a driveway on the other side of her house she could inlet on, but she'd have to work it out that those people.

If I rent 2 spots, 1 spot is left for me. I could have the sidewalk cut and cut a second spot onto my small front lawn. Really not ideal to do that.

I could tell her all I can swing is 1 spot which leaves 2 for me. But the thing being like other said, she'd have to prepare to vacate when I go to rent it out. I wouldn't want new tenants to have to deal with it.

Mr.BB
Posts: 1187
Joined: Sun May 08, 2016 10:10 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Mr.BB » Sun Sep 01, 2019 8:15 pm

Sandtrap wrote:
Sun Sep 01, 2019 8:07 pm
1. Absolutely do not sell your driveway or space. You permanently reduce the value of your property. Forever. And it's sale-ability.

2. You can rent on a month to month basis. The problem with this is that if you ever want it back and discontinue the written rental agreement, there will be hard feelings because over time, they have become "entitled to it".

3. If you let them use the parking and driveway as a "favor", then again, over time, they become entitled and, again, you are the bad guy and have to apologize because you need it back.

4. So. No.

5. Your tenants are your priority.
+1
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

Hulu
Posts: 204
Joined: Wed Oct 22, 2014 7:55 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Hulu » Sun Sep 01, 2019 8:24 pm

Maybe let her know it’s a possibility to rent after you have your parking situations figured out. And if she wants to buy it that you’ll consider her offer. If she makes you some crazy offer then possibly. FYI some towns don’t let you sell part of your parcel without restrictions or conditions.

User avatar
ResearchMed
Posts: 10147
Joined: Fri Dec 26, 2008 11:25 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by ResearchMed » Sun Sep 01, 2019 8:25 pm

Bwlonge wrote:
Sun Sep 01, 2019 8:14 pm
prudent wrote:
Sun Sep 01, 2019 8:08 pm
If you rented her two spots, how much parking is left for you and any tenants? And would everyone be able to come and go as they wished without someone else having to move their cars out of the way?

I'm not surprised she wants to buy it instead of rent - her convenient parking is gone and she may have a chunk of money from your purchase available to pay for it. But if I'm the owner, I'm only offering rental spots, if that.

Do all the other neighbors have off-street parking available to them?
Other neighbors have driveways. There's a driveway on the other side of her house she could inlet on, but she'd have to work it out that those people.

If I rent 2 spots, 1 spot is left for me. I could have the sidewalk cut and cut a second spot onto my small front lawn. Really not ideal to do that.

I could tell her all I can swing is 1 spot which leaves 2 for me. But the thing being like other said, she'd have to prepare to vacate when I go to rent it out. I wouldn't want new tenants to have to deal with it.
Here is your answer:

"... but she'd have to work it out that those people [the other neighbors on the other side]. ..."

It's not *your* problem.
They got money for giving up the parking, right? And even if *not*, it's YOUR property, not shared property.

But the neighbor isn't even totally reliant upon *you* anyway!

End of *your* problem.

Do *NOT* sell ... as mentioned above, that will reduce the value of your entire property, possibly seriously.
And given that space is tight, do not rent, either. Don't start a relationship that will be difficult to end.
Your first priority is to your tenants ... and to yourself, of course.

RM
This signature is a placebo. You are in the control group.

User avatar
prudent
Moderator
Posts: 7460
Joined: Fri May 20, 2011 2:50 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by prudent » Sun Sep 01, 2019 8:28 pm

So you have two spots, you need one, and expect to need one for an eventual tenant. So I'd rent one spot month-to-month and tell her it's only rented to her until you get a tenant. She can negotiate with her other neighbor if that doesn't work for her.

I would never consider selling, only renting.

Topic Author
Bwlonge
Posts: 253
Joined: Wed Nov 22, 2017 6:36 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bwlonge » Sun Sep 01, 2019 8:35 pm

I have a text queued saying I can't sell it and I can't rent spots. I agree creating the dependency is going to just push the problem out further. Better to have her sort her life out now before I've moved in.

User avatar
Watty
Posts: 19289
Joined: Wed Oct 10, 2007 3:55 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Watty » Sun Sep 01, 2019 8:45 pm

If you sell it then one problem is that if something happens like if your duplex burns down then you may not be able rebuild it because a setback from the property line might be required.

There can also be a minimum lot size and you might not be able to rebuild because your lot is now below the minimum.

Another problem is that if you have a mortage then you cannot sell it without your lender's approval. Even getting an answer from them will be difficult and even if they agree to it they will likely require that any payment goes towards paying down the mortage.

a_movable_life
Posts: 171
Joined: Tue Dec 20, 2016 9:33 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by a_movable_life » Sun Sep 01, 2019 8:50 pm

I've lived in two towns with very tight street parking. As in sometimes circling for 1/2 hour or more. Sometimes having to part several blocks away. Sometimes getting up at 6AM to move the car off the main street before the meters turned on, or my own street before the parking authority came by to ticket for two weekly revenue generation. I mean street cleaning. Sometimes I passed up on activities after work so I could be home in the first wave of people who got off of work when parking was a little easier.

I would have paid a bit more to know any time I got home in the evening I could just roll on in. Especially if I had groceries or other things in the car. I bet older tenants would appreciate it even more. if anything it may result in people staying longer.

I'd bet that the Sister kept her out of the loop on the sale partially because she wanted the driveway as part of the deal and it got contentious.

User avatar
Frobie
Posts: 249
Joined: Sat Mar 03, 2007 7:56 pm
Location: Houston

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Frobie » Sun Sep 01, 2019 9:05 pm

That sounds like a difficult situation even if it works out in your favor. Please let us know how it goes.

ARoseByAnyOtherName
Posts: 1000
Joined: Wed Apr 26, 2017 12:03 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by ARoseByAnyOtherName » Sun Sep 01, 2019 9:27 pm

Bwlonge wrote:
Sun Sep 01, 2019 8:35 pm
I have a text queued saying I can't sell it and I can't rent spots. I agree creating the dependency is going to just push the problem out further. Better to have her sort her life out now before I've moved in.
I believe you're doing the right thing.

It will be an issue now, or it will be an issue later when you need back the spot you rented. Bite the bullet now and tell her she can't buy or rent. Deal with the fallout and then it will be over and you won't have anything hanging over your head.

tim1999
Posts: 3670
Joined: Tue Dec 16, 2008 7:16 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by tim1999 » Sun Sep 01, 2019 10:20 pm

The details of the process will depend on what state and municipality you are in, but to do this the right way, you would likely have to file an application and plan with the appropriate jurisdiction for a lot line change. It may or may not be approved depending on what the change would do to your lot in regards to minimum building setback requirements, lot size requirements, etc. etc. AND the cost of getting this approved will take a chunk out of the sale price you receive from the neighbor. Where I live, doing a lot line change involves a lot of expensive rigmarole like getting a surveyed plan showing the change, hiring a civil engineer and/or attorney to present the plan at a public meeting, municipal engineering review fees, etc.

You can't just draw up a bill of sale on a napkin and sell your neighbor part of your lot.

MathWizard
Posts: 4044
Joined: Tue Jul 26, 2011 1:35 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by MathWizard » Sun Sep 01, 2019 10:30 pm

I agree with the others, don’t sell or rent.


She has already become self-entitled.
She either never had any ownership of the land, or her signature is on the sale.

Her own SIL kept her out of the loop because she somehow feels she gets a say on property that she did not own because her SIL was nice to her.

I would take the cue from the SIL, and just say you are not interested.

User avatar
RickBoglehead
Posts: 5608
Joined: Wed Feb 14, 2018 9:10 am
Location: In a house

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by RickBoglehead » Sun Sep 01, 2019 10:56 pm

tim1999 wrote:
Sun Sep 01, 2019 10:20 pm
The details of the process will depend on what state and municipality you are in, but to do this the right way, you would likely have to file an application and plan with the appropriate jurisdiction for a lot line change. It may or may not be approved depending on what the change would do to your lot in regards to minimum building setback requirements, lot size requirements, etc. etc. AND the cost of getting this approved will take a chunk out of the sale price you receive from the neighbor. Where I live, doing a lot line change involves a lot of expensive rigmarole like getting a surveyed plan showing the change, hiring a civil engineer and/or attorney to present the plan at a public meeting, municipal engineering review fees, etc.

You can't just draw up a bill of sale on a napkin and sell your neighbor part of your lot.
This ^^^
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

msk
Posts: 1470
Joined: Mon Aug 15, 2016 10:40 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by msk » Sun Sep 01, 2019 11:27 pm

There is always a price at which it is worthwhile for you to sell the parking spaces (e.g. selling her the entire duplex!), and there is always a rent at which it's worthwhile for you to rent out one space, and another rent at which it's worthwhile for you to rent two spaces. You know in your heart those 3 prices. E.g. selling 2 spaces @ $100k, rent one space @ $100 pm, 2 spaces @ $300 pm. None of them have to be "reasonable" in market terms at your location. Tell her and work things out from there. My father-in-law bought the house next door @$600k just for the 2 parking spaces! He was very reluctant to move after 40 years in the same house, and 40 years of struggling with nightmare street parking. Now we have ample accommodation in the new house when we visit with the kids :D There is always a situation where this stuff gets carried to extremes. You do not have to be punitive in your offers, just "enough" to keep you content. It's up to the neighbor to decide if what you offer keeps her content.

Bfwolf
Posts: 2026
Joined: Thu Oct 14, 2010 11:19 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bfwolf » Mon Sep 02, 2019 1:28 am

Not selling or renting is a reasonable option.

If you do want to consider the rent option, $50/month is not enough. You've already said that you think it would be undervalued for sale at $14,300. Well, $50/month is a 24x multiple to $14,300. i.e. a high multiple where the other person should prefer renting to buying. $100/month would be the minimum to think about renting but others have given lots of good reasons why you should just say no. Or just set a high enough number where it's worth it to you, like $250/month. Neighbor can always say no.

User avatar
whodidntante
Posts: 8016
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by whodidntante » Mon Sep 02, 2019 1:36 am

Kevin O'Leary says that owning a car is a mistake, and he instead recommends ride-sharing services. I'm sure your neighbors will appreciate all the money they save with that advice.

minimalistmarc
Posts: 881
Joined: Fri Jul 24, 2015 4:38 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by minimalistmarc » Mon Sep 02, 2019 1:40 am

Obviously selling will massively reduce the value/sell ability if the property, otherwise this would have been done between family prior to marketing the property. Everything has its price, but it would have to be :moneybag

User avatar
celia
Posts: 10636
Joined: Sun Mar 09, 2008 6:32 am
Location: SoCal

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by celia » Mon Sep 02, 2019 3:21 am

When you bought your property, you knew it came with two parking spaces. When your neighbor bought her property, she knew it came with no parking spaces.

I wouldn't let her problem become yours. But here is a suggestion that someone in our neighborhood did. My friends have 2 cars but a 1-car garage. But there is an elderly person a few doors away who doesn't drive. So the elderly neighbor allows them to park one car in her garage any time they want. This makes it look like the elderly person doesn't live alone, which makes her feel safer..

hershey102d
Posts: 31
Joined: Fri Jan 05, 2018 10:48 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by hershey102d » Mon Sep 02, 2019 4:50 am

celia wrote:
Mon Sep 02, 2019 3:21 am
When you bought your property, you knew it came with two parking spaces. When your neighbor bought her property, she knew it came with no parking spaces.

I wouldn't let her problem become yours. But here is a suggestion that someone in our neighborhood did. My friends have 2 cars but a 1-car garage. But there is an elderly person a few doors away who doesn't drive. So the elderly neighbor allows them to park one car in her garage any time they want. This makes it look like the elderly person doesn't live alone, which makes her feel safer..
and the suggestion is?

User avatar
celia
Posts: 10636
Joined: Sun Mar 09, 2008 6:32 am
Location: SoCal

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by celia » Mon Sep 02, 2019 5:36 am

hershey102d wrote:
Mon Sep 02, 2019 4:50 am
and the suggestion is?
Suggest to your neighbor that she rent a space or garage from someone else on your street who doesn't need it for themself.

User avatar
galawdawg
Posts: 624
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by galawdawg » Mon Sep 02, 2019 5:47 am

Bwlonge wrote:
Sun Sep 01, 2019 8:04 pm
Buckeye Chuck wrote:
Sun Sep 01, 2019 8:00 pm
Were you aware of the issue prior to purchasing? You almost have to rent the space to maintain relations in good condition. Maybe add some type of liability waiver as a requirement.
The seller negotiated in parking for her and I sent her the hold harmless agreement. I agreed to a year of parking if the agreement was signed. The seller did nothing with it and closed anyway. I met the neighbor and she heard nothing about it.
So did you and the seller have a written agreement concerning the parking or did that negotiation come to a halt after the hold harmless agreement was never signed?

It would seem to me that your neighbor should have resolved the parking issue with the prior owner of your property (her sister-in-law) prior to the property being sold. The seller could have sold her a portion of the property or created an easement. I assume the title search showed no recorded easements? If she received money from the sale, perhaps that was her "compensation" for losing her ability to park on what is now your property.

criticalmass
Posts: 1497
Joined: Wed Feb 12, 2014 10:58 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by criticalmass » Mon Sep 02, 2019 6:30 am

Bwlonge wrote:
Sun Sep 01, 2019 7:52 pm
I bought a duplex and on one side (the one I'm moving into) there's a driveway between my unit and my neighbors house. She had historically used the driveway because it was a family owned duplex, but her sister in law, the seller, kind of kept her out of the loop. However, I know my neighbor received some money from the sale.

The driveway is squarely in my parcel. She doesn't have any other parking available to her- her parcel is narrow and building her own would be tough. There is a winter parking ban where parking on the street is not an option.

I initially offered to rent her spots but she countered by asking if I would sell her the lot. I'm thinking about it, but 1. it's hard to find a configuration where I feel I have ample space for myself and future tenants, 2. I have no idea how much of a hit in value I'd take without the nice big driveway and 3. I don't know how much I'd want if I were to sell it. On the other hand, unless I rent her 2 spots, her and her daughter are going to be frigged during winter.

The square footage of the driveway is about 600sqft, about 10% the area of the total parcel. Sale price was 143k. One method would be 10%, so call it 14.5k. That's not really enough for me - feel like I'd be losing more in value. I could use cash, but not at the expense of lost house value.

I offered to rent spots for $50/each/month, but I'm having second thoughts about that because I lose a significant amount of parking and take on liability risk for pocket change.

What should I do???
What is the advantage to you for selling? If there isn’t any besides extra money that isn’t as useful as a driveway, I would decline. It sounds like you don’t know if you can subdivide your real estate and legally sell just a driveway under local rules and zoning either. Any mortgage company you have would be party to the sale as well. And selling now could cause you a greater loss in the future.

student
Posts: 4800
Joined: Fri Apr 03, 2015 6:58 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by student » Mon Sep 02, 2019 7:16 am

MathWizard wrote:
Sun Sep 01, 2019 10:30 pm
I agree with the others, don’t sell or rent.


She has already become self-entitled.
She either never had any ownership of the land, or her signature is on the sale.

Her own SIL kept her out of the loop because she somehow feels she gets a say on property that she did not own because her SIL was nice to her.

I would take the cue from the SIL, and just say you are not interested.
+1.

User avatar
JoeRetire
Posts: 5229
Joined: Tue Jan 16, 2018 2:44 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by JoeRetire » Mon Sep 02, 2019 7:50 am

Bwlonge wrote:
Sun Sep 01, 2019 7:52 pm
What should I do???
Just say no.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.

criticalmass
Posts: 1497
Joined: Wed Feb 12, 2014 10:58 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by criticalmass » Mon Sep 02, 2019 8:03 am

Another thought: If you want to use this driveway in the future, would the neighbor sell it to you? No? There’s your answer.

User avatar
Doom&Gloom
Posts: 3387
Joined: Thu May 08, 2014 3:36 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Doom&Gloom » Mon Sep 02, 2019 8:19 am

JoeRetire wrote:
Mon Sep 02, 2019 7:50 am
Bwlonge wrote:
Sun Sep 01, 2019 7:52 pm
What should I do???
Just say no.
This. Do it and be done with it.

harrychan
Posts: 1650
Joined: Sun Nov 14, 2010 9:37 pm
Location: Pasadena

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by harrychan » Mon Sep 02, 2019 10:41 am

You are too kind. I know we all want to help out others especially your neighbor but this is the property she bought and it shouldn't have been a secret. No to rent and absolutely no to selling. She should move.
This is not legal or certified financial advice but you know that already.

Thegame14
Posts: 1480
Joined: Mon May 07, 2018 11:53 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Thegame14 » Mon Sep 02, 2019 6:02 pm

I'd say sorry, but I am using the driveway, and let her figure something else out.

arsenalfan
Posts: 826
Joined: Mon Dec 09, 2013 12:26 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by arsenalfan » Mon Sep 02, 2019 6:17 pm

Sounds like you own it. What do you want?

If you do not want to rent it, notify her of that (and follow up with a letter to her), clearly stating no contract was signed at time of sale and this is your property.

If you want to rent it, rent it for fair market value, show her comps with a contract with set parameters - who is responsible for snow/ice, demarcate the spot with an annotated picture and/or paint real line demarcation, clarify that ingress/egress must be passable, etc etc. Easy to do with google docs, and make them DocuSign with initials at all important points and a final signature. Also specify how you will get paid - venmo/etc.

Topic Author
Bwlonge
Posts: 253
Joined: Wed Nov 22, 2017 6:36 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Bwlonge » Thu Sep 12, 2019 2:04 pm

Update: I nicely but firmly texted her saying I'm not able to sell the driveway nor rent spots. I didn't receive a response, but both her and her daughter have been parking on the street. I sometimes am receiving mail addressed to her, so I have been placing it on their porch like a good neighbor. I noticed they cleaned up some of their stuff from the driveway. I think we're in a pretty good spot now. I'm not sure what they'll do about winter parking, but like others have said, its not my problem.

User avatar
Doom&Gloom
Posts: 3387
Joined: Thu May 08, 2014 3:36 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Doom&Gloom » Thu Sep 12, 2019 2:17 pm

Thanks for the update! It sounds as if that has worked out well for you.

PhilosophyAndrew
Posts: 643
Joined: Sat Aug 13, 2016 10:06 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by PhilosophyAndrew » Thu Sep 12, 2019 2:32 pm

OP, selling could compromise both a future sale of your property and your ability to attract and retain tenants. Renting two or even one space might compromise the latter.

I would consider saying “sorry, no” as gracefully as you can. This causes a problem for the neighbor, I know, but it was a problems that was perfectly foreseeable before the sale and the seller chose to leave it unresolved.

The neighbors should seek to solve their problem without compromising your interests.

Andy.

student
Posts: 4800
Joined: Fri Apr 03, 2015 6:58 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by student » Thu Sep 12, 2019 2:35 pm

Thanks for the update.

chw
Posts: 783
Joined: Thu May 24, 2012 4:22 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by chw » Thu Sep 12, 2019 2:54 pm

Bwlonge wrote:
Sun Sep 01, 2019 7:52 pm
I bought a duplex and on one side (the one I'm moving into) there's a driveway between my unit and my neighbors house. She had historically used the driveway because it was a family owned duplex, but her sister in law, the seller, kind of kept her out of the loop. However, I know my neighbor received some money from the sale.

The driveway is squarely in my parcel. She doesn't have any other parking available to her- her parcel is narrow and building her own would be tough. There is a winter parking ban where parking on the street is not an option.

I initially offered to rent her spots but she countered by asking if I would sell her the lot. I'm thinking about it, but 1. it's hard to find a configuration where I feel I have ample space for myself and future tenants, 2. I have no idea how much of a hit in value I'd take without the nice big driveway and 3. I don't know how much I'd want if I were to sell it. On the other hand, unless I rent her 2 spots, her and her daughter are going to be frigged during winter.

The square footage of the driveway is about 600sqft, about 10% the area of the total parcel. Sale price was 143k. One method would be 10%, so call it 14.5k. That's not really enough for me - feel like I'd be losing more in value. I could use cash, but not at the expense of lost house value.

I offered to rent spots for $50/each/month, but I'm having second thoughts about that because I lose a significant amount of parking and take on liability risk for pocket change.

What should I do???
I wouldn't sell, as it will permanently diminish the building's value. You can't foresee now other issues that may be revealed if you didn't own the lot. Think- workmen needing this lot if you were doing a renovation or repair to your building.

I would simply rent her a space/spaces as needed. You then can control how the lot is utilized, and set rules as you see fit.

DoTheMath
Posts: 368
Joined: Sat Jul 04, 2015 1:11 pm
Location: The Plains

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by DoTheMath » Thu Sep 12, 2019 3:20 pm

In case this wasn't suggested earlier in the thread, one option would be to offer to rent space(s), but only during the season when on street parking is not allowed. That would make it more obvious that it is not permanent and would give you an annual opportunity to change your mind.
“I am losing precious days. I am degenerating into a machine for making money. I am learning nothing in this trivial world of men. I must break away and get out into the mountains...” -- John Muir

Lalamimi
Posts: 384
Joined: Mon Jun 24, 2019 4:22 pm
Location: Texas

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Lalamimi » Thu Sep 12, 2019 3:28 pm

can she access her house by using your driveway, to park in her own yard? maybe grant her a right-of-way easement only, no parking on the driveway but for use to access a parking area in her own yard during winter.

Boats day
Posts: 60
Joined: Thu Mar 06, 2014 11:39 am

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by Boats day » Thu Sep 12, 2019 4:58 pm

I would not sell and would rent to her.

Check with your insurance company to see if you need additional coverage.

Good luck

likegarden
Posts: 2989
Joined: Mon Feb 26, 2007 5:33 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by likegarden » Thu Sep 12, 2019 5:01 pm

Per NOLO book 'Neighbor Law', in case you permit them using your property for more than a certain time (depending on your state) without them signing a paper stating that this is only temporary and could be canceled by you anytime, that property part or right will belong to your neighbor, so watch out. In NY state this is 7 years.

rebellovw
Posts: 592
Joined: Tue Aug 16, 2016 4:30 pm

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

Post by rebellovw » Thu Sep 12, 2019 6:06 pm

In this case the answer is clearly "yeahhhh NO. No no - no no no. Wish I could've helped - sorry."

Post Reply