HELP!! opinions on land price made an offer

From the sound of it this guy isn't going to take a cent less than he is asking. Usually when someone with money subdivides a property they know the local market and plan on profiting from it..
You on the other hand don't sound like you have a clue about the area.
6 days with a real estate agent just educates you to the high end of the market.
The real deals will come through word of mouth and wont even be advertised. Some deals that are For sale by owner might not be too bad.
But forget your love and keep looking.
By the way you have the beginning of a great setup on a deal here.
First you have one person low ball a deal by a lot starting out at 50% of what you want to give for it,then he quickly works it up through a series of offerers to about 55% then stops later you come in and offer what you want to give for it.
Doubt if it will work on a savvy seller like this guy sounds like he is.

Land price is relative to area, demand, and economy.

If his 2300 was in line with other properties in the area I'd say you lowballed it so bad that the seller figured it wasn't worthy of a counter offer. You may have ----ed him off to the point that he may never sell to you except at full asking price.

If you really want the property and can afford it make another higher offer but don't be suprised if you get the same response.

Some people also set a price to sell and will not consider any less.

__________________
If the grass looks greener it is probably over the septic tank. - troy n sarah tx

Our existance here is soley for the expoitation of CMG

I agree with this. An offer of, perhaps, 20% less than the asking price is reasonable, but an extreme lowball offer just convinces the seller that the potential buyer either doesn't have any money or doesn't have a realistic approach to purchasing property. So why waste time presenting a counter-offer?

__________________
"If you have ten thousand regulations you destroy all respect for the law." -- Winston Churchill

one more thing to consider... if this guy bought up a big farm to subdivide, you will have lots of neighbors soon. what is "beautiful" now, may not be in 5 years.

"WOW things sure are high there in TX~ the utility company will run the first 1000 ft free I pay the rest to my house that's Why elec. is cheaper on my estimate."

You haven't checked just the cost of the wire. And also check whether the electric company will even install a meter without having buildings built. They want to be sure there is a "load" for them to bill to, and in this day and age with financing IFFY you might find them a might bit more reluctant without buildings in place. It will cost you $2000.00 just to get a qualified electrician to build and install your meter loop and maybe more depending on the distance you have to run from pole to loop and from loop to house. Go and price the cost of 00 gauge copper wire - its a shock -you would think its silver vs copper.

Wells which you didn't address are $12-16K depending on how deep you must go.

Minimum just for materials on your fence if just doing a perimeter is $3500.00 and likely more.

What I am saying is that it is always MUCH MORE to do the project than you plan. I would expect it to finally cost twice what you estimate. I know - I have been there and done it.

Good luck on the prices if you have codes to build by and need permits and inspections. My stepson built in California and his permits and inspections cost him $40K.

Being a "Millionaire" just gives him time to wait for the market to match his price, and unfortunately he can afford to wait. There is no pressure on him to sell. I also take it the piece of property you want is probably the choice piece of the ranch being divided.

I agree with everybody else. You don't fall in love with the first piece of land you look at. It does sound nice but one just as good or better might be over the next hill! We had looked at some land in Arkansas and after a number of them we found one we thought we would love to buy. We made an offer on it and come to find out the owner had to turn it down because he had mortgaged all his land (that one included) to build an industrial turkey house right next door to this piece of land. He forgot to tell his real estate agent that he couldn't sell. And we were glad not to be stuck next door to that future turkey farm (after growing up on chicken farms, I know what that's like LOL). Two days later we found the land we ended up buying. It is much nicer and cheaper than the one we had first bid on. And no turkey/chicken houses within miles of this one!!

I'd like to point out that the offer was made based on the real estate agent's erroneous information. The OP was told the original listing price was 1750 an acre, so 1500 wouldn't have been out of line. If this is indeed the case, I would think if she really wanted the property, she'd rework the offer and then have the agent present it with HIS apology, as his misinformation is what caused the gap.

__________________
" It's better to ride even if you get thrown, than to wind up just wishin' ya had."

Chris Ledoux

THANK YOU for pointing this out I think a lot of people themselves were insulted because of THEIR own thinking "IF THEY HAD LAND" but if you had a faulty realtor then i can assume someone in here would have done exactly as i did.

The acerages are broken up into 20 to 30 acre parcels mine is hidden in a little valley the only thing you can see is across the road and a lil church up on top of a hill. there is however 1 SMALL chance i will have 1 house in my vision.

LOL that's funny i grew up in that area my hometown 25 years there I have researched the real estate market there AND the real estate is right at 2000 to 3000 PER ACRE. 4% market rise per year in the current trend expected to change this Spring.

I Like the advice of the many who said "IF you love it and it is THE property then work for it" I would rather have something I thought was "My lil pc of Heaven" than to have something else i just SETTLED for.

There are injunctions against chicken/turkey farms and trailers older than 10 years and such for this area to as not to depreciate the value of the property.

Utilities~ hubby will probably bury the elec. line as well.


NOW~ that being SAID~ I called the realtor this morning and told him i wanted to Offer again and he said the guy had Counter offered on Mine~ and dropped 4,000 off the asking prices SOOOOOOO

I BOUGHT IT

:banana02: :banana02: :banana02:

He is faxing the paperwork to me

I called my parents who looked at the land with me and they are both so excited as they both LOVED (used the word again) LOL the property and are just tickled

__________________
Dear God So far today Ive done ok I havent gossiped got mad been greedy grumpy or nasty Im very thankful But in a few min. Im goin to get outta bed from then on Im goin to need alot more help AMEN

THANK YOU ROSE

(((HUGS)))

I am tickled!!!!

__________________
Dear God So far today Ive done ok I havent gossiped got mad been greedy grumpy or nasty Im very thankful But in a few min. Im goin to get outta bed from then on Im goin to need alot more help AMEN

Congratulations on your new property!
Can't wait for some photos.

Congrats and good luck.

OUCH! If I had to pay the prices where YOU live, I'd MOVE! Either that or you could spend your money more wisely than you have so far! And what kind of fence is THAT?

__________________
Before you marry someone, ask yourself, "Will they be a good killing partner during the zombie apocalypse?"
-someecards.com

themamahen,

CONGRATS!!
We wish you the very best in fulfilling your dream!

__________________
Before you marry someone, ask yourself, "Will they be a good killing partner during the zombie apocalypse?"
-someecards.com

Congrats also, Its good when a plan comes togeather.
Land is a tough one to buy, always good things and bad things to consider, besides price.
Rich seller in no hurry, and you "loving it" didn't make it any easier, so I'm glad it worked out for you, don't want to kicking your self in the but down the road.

I bought the 6 acres next to me from a guy like that, and it wasn't until he put it on the open market (same price as he had wanted for several years), that I broke down and gave him what he wanted as I didn't really want neighbors. Thought it was high then, but now prices have doubled, so it worked out.

Now the fun begins!

Had a strange thing happen a few years back, guy was selling a piece of property across the river from me, all flood plain. Can't build on it.
It was 20 acres between the road and the river. Total land a house/buildings was 400+ acres.
He was looking for 1000 per acre, I offered 800 and he accepted, under the condition I paid for the survey (wasn't mentioned in the original asking price).
Checked into it and found out that it was gonna cost me $3000 plus for the survey, (I was to pay for all 400 plus acres, I guess. Besides, how hard is it standing in the field with a "stick"?)
I offered to sorta split it @ 750 an acre, he turned me down.

So, a few months I found out that he didn't even own the 20 acres as he thought, (the reason for the survey). I know who does own it and they are an original settler famliy, who have never sold anything.
They stole it from the native Americans fair and square, and plan on keeping it.

It would have been intresting to see what would have happened if I had gone along with the deal and paid for the survey.
Some times some things are not to be, and most likely there is a good reason..............
Congrats again!

Thank you everyone Will try to get yall some Pictures up tommorow. I am listing my house in Idaho in a few weeks, but i realize it may take awhile to sell it. In the meantime I am hoping another lot at the end of this place sells that way I wont have to pay so much for the electric.

There aren't any building permits but I do have to get a plumbing and elec. inspection and health dept septic thing.

We so excited

__________________
Dear God So far today Ive done ok I havent gossiped got mad been greedy grumpy or nasty Im very thankful But in a few min. Im goin to get outta bed from then on Im goin to need alot more help AMEN

Congratulations, sounds wonderful!

__________________
The 7th Day is still God's Sabbath
ICOG7.ORG
Layton Hollow ADGA Nubians
Taking Reservation for 2015!

I had a similar thought! Especially where it's only fencing in 7 acres. (DH and were just pricing fence for one side (1/4 mi.) of our forty acres and we're irked that it'll be almost $800! lol)
And I also though, 'geez! I thought my well guy was quoting a high price.'
But $12-16G?? Holy Smokes!

__________________
~*~Erin~*~
SAHM, ranch wife, sub and quilt shop proprietress
the Back Gate Country Quilt Shop

LOL now you tell us this? This makes it sound like you know far more about the situation than you could expect any of us to know and just set us up..

Certainly not the biggest bargain in the area at over $2000 an acre.
BUT If there is something you want and no other will do whats to say any priceis to much?
It sounds like you bought at $48,000 or about $10.500 more than your original $34,500 offer. not really that much in the sceam of things to be happy :banana02:

Congratulations MamaHen! Where is it?

__________________
If it needs a home, it ends up here!