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Jan 17, 2022 - 02:45 AM
The process to build a new tower typically takes 6-12 months depending upon zoning and permitting. The tower company won't build anythng until they have building permits. You can check with the city or county to confirm whether applications were submitted and where they are in the process. In terms of selling now vs waiting, it doesn't hurt the tower company to list it at any point after the easement is in place. Obviously a key part of the purchase agreement will need to be timing on removing the towers.
In terms of valuation, I can't really speak as to specific values. I can share that generally there are slightly fewer people willing to purchase property with a tower on it if they aren't getting the revenue. Historically, studies done (typically by opponents to towers) tend to show that nearby residential property is worth 5-20% less due to the presence of a tower.
In terms of access, after the initial construction which will last 1 month or so, you should expect to see someone at the tower about once a month. Most landowners with a tower don't notice the maintenance- the carriers come out in pickup trucks and check the site. Then expect to see construction on the tower once every 1-2 years.
Sounds to me like you have room to negotiate here if the property has been on the market for 300 days. Make a low-ball offer and then just walk it up. Tower companies don't like to own property.
Hope this helps.
In terms of valuation, I can't really speak as to specific values. I can share that generally there are slightly fewer people willing to purchase property with a tower on it if they aren't getting the revenue. Historically, studies done (typically by opponents to towers) tend to show that nearby residential property is worth 5-20% less due to the presence of a tower.
In terms of access, after the initial construction which will last 1 month or so, you should expect to see someone at the tower about once a month. Most landowners with a tower don't notice the maintenance- the carriers come out in pickup trucks and check the site. Then expect to see construction on the tower once every 1-2 years.
Sounds to me like you have room to negotiate here if the property has been on the market for 300 days. Make a low-ball offer and then just walk it up. Tower companies don't like to own property.
Hope this helps.
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Ken, that was incredibly helpful, thank you. I'd already sent a quick query earlier to see if I might be able to hire Steel in the Air as consultants on this or see if you could recommend anyone if it's not something you do. Looking forward to hearing back -- your company knows its stuff and I appreciate that y'all maintain this free forum. Thank you for answering my questions!
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