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Discussion Starter · #1 ·
I got my new piece of ground last summer as did my best friend, he has the land right next to mine. I've been interested in expanding my hunting ground if given the chance. Today my best friend asked the neighbor for me if he would be willing to sell out as I'm looking into a connecting piece. Luckily the guy said he would be interested in selling for the right price. Hmmmm now the decision to make. OK lets here some reply's on what you would do and such. Paul
 

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A former neighbor asked the property owners next to him if they would be interested in selling.
They presented a price ,he countered ,they refused.
What he did was inspire them to sell. And they did.
The property the other side of him went up for sale.
My offer was refused .
I told him(my neighbor who did not secure the other property) I would have to scramble hard and creatively to finance it, but wanted it secured for deer.
He said he had it covered. Not! Next thing I knew it was sold .
So, if it was available and I wanted it. Buy it would be the answer.
The right price.....is where you both walk away content.
 

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If he is going to sell, and if it is decent land, I would be worried about who will buy it if I didn't. When I bought my house on 80 acres I knew the seller's son owned the 40 next door. I told them to have him get a hold of me if wanted to sell. Couple months later he called and said he was thinking about selling and we had a deal that day.
 

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Find out what land is going for in your area and what the tax assessment is, and find out if has been surveyed lately.Check on mineral rights. Are there legal easements?
 

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We buy every parcel we can in our home section. Not a bit of regret on any purchase. We now have 6 parcels with only 3 contiguous. If and when the intersecting parcels come up for sale what do you think will happen?

Sometimes, price means less than the importance of the parcel. I have paid more than value for things in the past. Never regret if it was something I wanted. I MAKE money with my job. I make more than I need for just such cases. Some people can't live with themselves if they pay more than market value. They also feel the despair of missing out on something they want.
 

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Discussion Starter · #7 ·
Subject purchased the land 3 years ago from the bank. 20 acres for 32k. seems the guy is willing to sell for somewhere in the 40s. land is a long 20 which I like because it goes deep into the block. Seller is motivated as he says he cant do much with the land. He isn't much of a hunter. Subject has a pond dug 2 years ago on the land. Land is much like mine with 50%bedding cover thick low land ground that is part of a travel corridor. No easements on the land. I'm going to check on survey. Subject claims the land is 17 to 20 acres but not sure. I would really like to won the ground. The guy is starting to collect junk cars and boats back there and I got the money so It might be time. Heck it could open the door to something else down the road even. I guess all this overtime I have been working could pay off.
 

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We buy every parcel we can in our home section. Not a bit of regret on any purchase. We now have 6 parcels with only 3 contiguous. If and when the intersecting parcels come up for sale what do you think will happen?

Sometimes, price means less than the importance of the parcel. I have paid more than value for things in the past. Never regret if it was something I wanted. I MAKE money with my job. I make more than I need for just such cases. Some people can't live with themselves if they pay more than market value. They also feel the despair of missing out on something they want.
Agree wholeheartedly. We own multiple lots that adjoin our home. Paid more than I think the seller could have gotten on the open market, because I wanted the lots and didn't want to see anyone else build on them.
 

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Subject purchased the land 3 years ago from the bank. 20 acres for 32k. seems the guy is willing to sell for somewhere in the 40s. land is a long 20 which I like because it goes deep into the block. Seller is motivated as he says he cant do much with the land. He isn't much of a hunter. Subject has a pond dug 2 years ago on the land. Land is much like mine with 50%bedding cover thick low land ground that is part of a travel corridor. No easements on the land. I'm going to check on survey. Subject claims the land is 17 to 20 acres but not sure. I would really like to won the ground. The guy is starting to collect junk cars and boats back there and I got the money so It might be time. Heck it could open the door to something else down the road even. I guess all this overtime I have been working could pay off.
Sounds like a great opportunity to expand your holdings.
 

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This borders your property? Buy it now.
Yes, buy! You may only get one opportunity at the adjoining land in youre lifetime. If the desire to ever own more has crossed your mind, jumpbat the opportunity. Dont get hung up on price but more concerned taking full advantage of the opportunity
 

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I agree buy now. Consider yorself lucky that it cam up from sale and take advantage. Most adjoining pieces never come up for sale twice in a life time
 

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BUY!
 

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Agree wholeheartedly. We own multiple lots that adjoin our home. Paid more than I think the seller could have gotten on the open market, because I wanted the lots and didn't want to see anyone else build on them.
"I'd rather have bugs than neighbors"
 

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Having attended a number of real estate transaction rodeos, here is my recommendation.

Approach the guy. Tell him your intentions. Acknowledge that neither you nor he are experts at valuing property.

Have him select a licensed real estate appraiser in the area. Tell him that you will pay the appraiser's fee to conduct a formal appraisal of the property, so as to have a basis for valuation. Once he makes his selection, formally engage the appraiser, take delivery of his report, and pay him. Share the report with the property owner. Then, make an offer. Offer whatever you think is appropriate, based upon the information you both have. The transparency here is a trust-builder, which is important. If you are able to negotiate a purchase in this manner, both parties can feel good about the transaction.

Do not take the cheapo route of getting a realtor's free opinion of the property's value. Not nearly as credible as something you pay for.
 

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There's an old saying in the collector car hobby regarding quality pieces. "You can never pay too much, you just bought too early".

The same applies to quality real estate parcels.
 

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In this area a property only comes up for sale once in a lifetime. Don't miss your opportunity. Pay fair market value.
 
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Discussion Starter · #19 ·
The guy got the land 3 years ago on a bank repo for 32k. Its 17 acres. I got my ground last summer, 10 acres for 27k. I talked to him today, said he is firm on 3200 an acre no matter the appraisal.
 

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The guy got the land 3 years ago on a bank repo for 32k. Its 17 acres. I got my ground last summer, 10 acres for 27k. I talked to him today, said he is firm on 3200 an acre no matter the appraisal.
17a @ $3200/a = $54,400.

If you can swing it, offer him a cash deal, close next week, for $49k, roughly 10% off his price. Every prudent seller understands the value of cash, not waiting longer to close, and especially not having the contingency of sweating out loan approval for a land purchase.

Using the words "I can close next week" is powerful.
 
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