Originally posted by TX_Hoghunter
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Barbed Wire Fence Value
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Barbed Wire Fence Value
I could see a couple miles of new 5 strand and 50 acres of quality brush work being over 75k+ once all is said and done.
If he bought the place with a broker 2 years ago, he’d likely have to sell it for 5-6% over what he paid, plus the money he has in it to break even.
I’d work up your offer and see where it lands with him, before reminding him how much he has in it. Maybe he wants out
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Originally posted by hardtner View PostUsing the "what he has in it" negotiating model is a bad, bad idea. It's irrelevant and will likely tick off the seller right away.
His BIL (a real estate agent from 4 hours away) gets in the picture and starts playing the, "I know what you paid for it game". The low balled their offer (after being okay at full price), I sold it the next day to another cash offer guy for close to full ask. The ol boy was sick he lost out on the place.
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Sounds to me like he bought the place at a heck of a deal, probably below market value, cleaned it up nicely and turned it into a turn key property, and is now listing it at a premium. People are willing to pay a premium for a turn key finished property because they either don't want to mess with the clean up and additions or they just lack the vision in the first place. As mentioned before, it will either be you that wants it bad enough or the next guy that did not know the history of it like you, and just sees a great looking finished property. but either way, I bet the land owner gets close to what he's asking for it.
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My opinion for what it's worth. If you are truly interested in the property, I would set up a meeting with him and try to talk it out. Explain to him, he can sell it to you for less money by not listing with an agent and you can close faster and be less headache.
At the end of the day, he is going to have a number he wants to walk out of there with.
That would be my approach.
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