the city of portsmouth, oh wants to sell "spartan stadium and branch rickey park" (football stadium and baseball park) to the high school for $1.... yes, one dollar.... the school board said no. Can I now buy this property for the same price?
2006-12-22 08:19:01 · 8 answers · asked by johnbehrhart 3 in Business & Finance ➔ Renting & Real Estate
all points are valid.... but, as I recall,,, isn't it illegal to offer one person a price and change it to a higher price for another?
2006-12-22 10:11:37 · update #1
I really doubt it! That was a deal for the school I am sure.
2006-12-22 08:34:58 · answer #1 · answered by Me 6 · 0⤊ 0⤋
YES! If you make the owner a written offer to purchase said property for $1 and they accept such offer then you have a contract. However, real estate taxes and transfer taxes are based upon the fair market value and $1 is well below FMV. Besides, I doubt the owner will accept your paltry offer of $1.
2006-12-22 09:05:46 · answer #2 · answered by Tim W 1 · 1⤊ 0⤋
No. Whoever owns the facilities has to maintain them. It sounds like neither party wants the maintenance expense and headaches.
Private individuals cannot buy public property unless a whole bunch of legal requirements are met. Usually public property is sold at auction.
2006-12-22 08:51:47 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
No, because the offer was withdrawn when the school turned it down.
In many cases, people do this to transfer the responsibility of the land ownership to another party.
2006-12-22 11:32:50 · answer #4 · answered by ramman 4 · 0⤊ 0⤋
No, an offer to one does not constitute an offer to all. As long as their motivation was not for a prohibited reason (race, creed, color, national origin, etc.) then there is noting wrong with what they are doing.
2006-12-22 11:30:46 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can buy any property for a dollar, assuming the seller agrees to the terms.
Regards
2006-12-22 10:09:50 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No. That was a special price for tax purposes.
2006-12-22 08:41:59 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Are you out of you mind?
2006-12-22 08:43:36 · answer #8 · answered by steelerspride24 3 · 2⤊ 0⤋