existing cell tower

We are looking at a property that we really like that happens to have a cell tower on it. The current owners want to retain the lease on the tower. I'm wondering if there's anything we can do to get control of the lease? I understand if they are making money off of it, I would want to keep it also if it were me, but just curious if there's anything we can do about it. How long do leases last? what happens when the lease expires, is it just renewed? Would it ever be offered to us if we own the property it sits on?

Comments for existing cell tower

Average Rating starstarstarstarstar

Click here to add your own comments

Jan 08, 2017
Rating
starstarstarstarstar
She did it.
by: Ted

Property I was purchasing with a cell tower on it . Well after talking to her lawyer etc. she sold them a life time Easement on the tower. Runs right through the main entrance and covers part of 17 acres on property. Then had the nerve to tell me when I offered less money that they had decided to raise price upward to original price. Which was way too high. Adds they post on sites such as Zillow don't even mention the Tower. My complaints to them have fallen on deaf ears. Depressed disabled veteran in Pa.


Editor's Note: Very sorry to hear, Ted. Thank you for your service.

Dec 03, 2016
Rating
starstarstarstarstar
Sounds illegal to me.
by: Anonymous

I recently tried to buy property with cell tower on it. Realtors played stupid about the tower. After I made offer which she verbally agreed to she said she needed to go to her lawyer. Now her lawyer and cell company tower are negotiating some kind of deal with no imput from me. House and land was priced above value to make it seem you were getting tower. Is this legal?

Nov 20, 2014
Rating
starstarstarstarstar
Let the buyer beware...
by: Stu

If you buy the property after they subdivide or they carve out a small portion where they have the liabilities and responsibilities for taxes and insurance that's okay. But you don't want to end up buying property and get stuck with a cell tower that has zero benefit to you and all the liabilities and headaches of people accessing your land to maintain the site. If they want to keep the tower then they should significantly discount the price of the land you are buying. If they sell the property to you the lease automatically assigns, make sure that they don't take a buyout for a cash lump sum before they sell the land to you and leave you holding the bag so to speak.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Cell Tower Lease Forum.

Subscribe to the
Cell Tower Insider
Enter your E-mail Address
First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Cell Tower Insider.



Contact a Telecom Lease Lease Genius Today.