tower

[stomperx]

i have option to purchase property that already has a tower in place. current owners just signed new lease agreement days ago, extending current terms of the lease for 10 years. if i purchase property, i also have to sign this lease.

can i renegotiate instead? or do i have to stick with terms of current lease? dollar amount seems very low after other things i've read....

the terms of this lease may be the deciding factor in whether i buy the roperty. but i also need to know what insurance/liabilty the tower owner is responsible for in regards to damage to structures on the property if the tower were to fall etc...

any hints?

thanks.

[hillbilly44]

Well, here goes without knowing where you are it may or may not be that low so if you're in a real rural area it may not be that low, however if there are alot of homes and a major highway or shopping areas then yes it might be to low. Also the tower company is responsible for any damages if it falls but you may want to ask that they name you as an additional insured on there policy. Hope this helps, Good Luck

[stomperx]

let me re-ask this:

house listed on 8/13, lease renewed on 8/20. they renewed for ten years, obligating buyers to the ten years.

the contract is blatantly one sided in favor of tower owner.

what legal right as new owner, would i have to renegotiate a better contract now, and not in 10 years?

there is major major city 120 miles away, "major-ish" city about 20 miles away, smaller city south about 10 miles and one west, and multiple small towns.

major-major-major highway about 20- 25 miles away, major -major highway about 15 miles, major highway only mile or two, and many other smaller important routes within only 2-3 miles.

how binding is the contract that the sellers signed: they knew they were leaving, and signed after they listed the house: they don't care what the terms are.

[Nathanvoite]

Originally Posted by stomperx

i have option to purchase property that already has a tower in place. current owners just signed new lease agreement days ago, extending current terms of the lease for 10 years. if i purchase property, i also have to sign this lease.

can i renegotiate instead? or do i have to stick with terms of current lease? dollar amount seems very low after other things i've read....

the terms of this lease may be the deciding factor in whether i buy the roperty. but i also need to know what insurance/liabilty the tower owner is responsible for in regards to damage to structures on the property if the tower were to fall etc...

any hints?

thanks.

If the sale of the property is dependent upon you signing the lease, then you have zero negotiating leverage once you sign the contract. The current owners probably got a substantial re-signing bonus.

As a property owner you do hold some legal liability. If the tower falls down (unlikely) the tower company may choose not rebuild on your land. If some kids decide to trespass and climb the tower and get hurt in the process, you and the tower owner will be held liable if the plaintiff can prove that the tower did not comply with FCC regulations. It isn't a fair game, but that's how it is played.

[hillbilly44]

Originally Posted by stomperx

let me re-ask this:

house listed on 8/13, lease renewed on 8/20. they renewed for ten years, obligating buyers to the ten years.

the contract is blatantly one sided in favor of tower owner.

what legal right as new owner, would i have to renegotiate a better contract now, and not in 10 years?

there is major major city 120 miles away, "major-ish" city about 20 miles away, smaller city south about 10 miles and one west, and multiple small towns.

major-major-major highway about 20- 25 miles away, major -major highway about 15 miles, major highway only mile or two, and many other smaller important routes within only 2-3 miles.

how binding is the contract that the sellers signed: they knew they were leaving, and signed after they listed the house: they don't care what the terms are.

Then your "low" lease amount may not be that low, As I stated in my prevoius message ask to be named and additional insured on there policy and have them give you a certificate of insurance to show it. Also contrary to Nathan's coments I doubt there was a "substantial" resigning bonus, but most leases have a built-in increase at either 5 or 10 years. As a side note though see how many antennas (by tower level) that are on the tower so you might have a little leverage to get some better terms. Good Luck

[stomperx]

now i will add some confusion:

this may or may not be a cell tower.... tower is owned by norfolk southern.

listing agent calls it a cell tower. but when i called independant real estate lawyer, based on my discription he said it sounds like tower used by rr company to send info for train company.

tower is very tall, is more "triangle shape" i.e. base is wider than top. there are no guide lines. has 4 round "discs" on it.... lawyer says these would be "microwave" dishes?

i am demanding the original/initial lease contract and the renewal from 2005. all i have been given is the new renewal.

would i be out of line by actually calling norfolk southern and seeing whats up with it?

thanks again.

i did ask/demand that i be given "letter" from rr company stating my right to alter/renegotiate this contract. this part is a deal breaker for buying the house: i do not want to be held by their (seller) contract for ten years. there was nothing in contract about rr company carrying insurance or restoring property if they abandon etc....