Suit or Walk Away?

Tango · #81 12/15/13, 05:15 PM

thanks Kasota. It is on my list of things to do tomorrow. Auctions are common features around here but as I said previously, mostly property that has long been paid for and so a low winning bid would still be quite a deal for them. The tax appraiser is coming out next week as well. I have set a quota of at least one bag of garbage removal per day and if the weather is fine, then two. I've given myself a schedule to get things ready for a real estate agent in spring but want it ready enough that I can try fsbo next month. Sure I can do it, except for the chasm, which I can't do much about for now. I'll probably need a long time out after this so I can recoup my health. Have gotten tendonitis on both elbows and messed up my knee.

bigjon · #82 12/15/13, 05:24 PM

yup.u got took.u've made a good start,pond-cabin -fence.scrap the metal-burn what trash u can-bury the rest.been on my patch 50yrs glad i stayed!and blkberries taste great!

Tango · #83 12/15/13, 05:31 PM

i love blackberry cobbler, blackberry jam, and blackberries straight off the bush. but they near covered the entire front five acres. now there is just a patch of them

am1too · #84 12/15/13, 06:45 PM

Quote:

Originally Posted by Tango

thanks Kasota. It is on my list of things to do tomorrow. Auctions are common features around here but as I said previously, mostly property that has long been paid for and so a low winning bid would still be quite a deal for them. The tax appraiser is coming out next week as well. I have set a quota of at least one bag of garbage removal per day and if the weather is fine, then two. I've given myself a schedule to get things ready for a real estate agent in spring but want it ready enough that I can try fsbo next month. Sure I can do it, except for the chasm, which I can't do much about for now. I'll probably need a long time out after this so I can recoup my health. Have gotten tendonitis on both elbows and messed up my knee.

The deal with auctions is the examination window is limited to maybe one day of your choosing. You can and should set a minimum bid/reserve. You could win big or lose some. Depends on who shows up. But in either case the sale is final and quick. Lots of people are losing money on real estate these days.

The auction fever is in your favor.

I'd do some cheap additional advertising myself by posting notices on any public bulletin board I could find. Court house, PO, laundry mat, city hall, TSC, library, bank.

rambler · #85 12/16/13, 01:15 AM

I figure as is is what you see, not what you are told, and it was your choice to not look the property over.

So, no looking back now. You bought what was there, fair and square.

Keep on working with it, or sell it as is.

Paul

jwal10 · #86 12/16/13, 03:18 PM

Is this for real? You fell in love in July and want a divorce all ready. After reading everything I don't see a real problem. May have bitten off more than you can chew or it is costing more than you thought, but don't see a deal breaker, here. Take some time and get priorities in order and continue on. Many of us warn of this, people have big dreams and when something does not go as planned they lose interest quickly. What will it take for you to live out there, or are you. You can put it up for sale but no hurry, test the market and see what your options are....James

ChristieAcres · #87 12/16/13, 03:37 PM

Quote:

Originally Posted by Tango

This is my 5th transaction with United Country and I worked with an agent from beginning to end. I purchased my first place in Tennessee site unseen, working with an agent. It was beautiful; I wish I still lived there but I gave everything away to ordain as a nun. They all knew they were working with someone who had vowed to a life of simplicity and service, who trusted what they said. What goes around comes around. I must have needed this lesson. Check.

You are so right! Shame on all those who taken advantage of others and they deserve the eventual circumstances of getting their just desserts. Had your Agent one his/her job, it is likely you wouldn't have been encouraged to buy this property. I have never listed a property I didn't walk and research thoroughly. This includes one that was 19 acres and was very challenging to cover by foot (quite a hike, really) due to the mixed topography. I take my camera and usually have dozens of photos of acreage properties. Not only am I assured of honest first hand knowledge, it helps potential Buyers a lot. Not all can walk the properties before they buy them...

DryHeat · #88 12/16/13, 07:43 PM

Just noticed this thread to read through. If you've decided to sell by some method and move on, my reaction may not add much, but unless two factors have been discussed in some other thread about your situation, I'm surprised nobody's mentioned them: 1) How close is the commute from this land to reasonable job prospects, say if you or anyone else buying from you wanted to use the place as more of a cheap base while putting some savings aside either to improve it or look for some "target of opportunity" to move to elsewhere? and... 2) What are the neighbors like? I'd consider 2) of extreme importance, partially because of my own experience buying a small (3 ac) bit of beautiful land in E. TN south of Knoxville over 30 years ago. It had an *old* small house on it but was liveable "as is" while I worked a job a couple years up at UTK and used the property for storage in my earliest stages of getting an independent (collectibles) wholesale business into a profitable mode. Unfortunately, it turned out a family or two "over the hill on a dirt road in trashed-out trailers in the adjacent hollow" were outright thieves who noticed when I started traveling away on sales trips and launched into breakins and vandalism. I was able to do a smooth transition to an in-town warehouse for the business plus recovered my costs on the property to live elsewhere, but it did torque me for a while that I was in a sense letting some inbred jackwagons get the better of me. But, the property served its purpose in my life and I don't regret having owned it for several years. However, given the presence of those few really bad apples (other folks on the blacktop road the house was set near were really nice), I think it would have been a horrible mistake for me to have stayed there trying to increase security or hoping the thefts would stop, the stress was already bad and would have increased, I'm sure.

If you've been there fixing things up for much of the year and all you can say about nearby property owners is that they must have known about conditions on the land, that doesn't sound like you've been building your confidence in them or getting any support or encouragement other than what you've been able to pay for.

Nathanaf8388 · #89 12/16/13, 08:14 PM

Seems that if I got as much money and work into something as you say you have I would keep in keeping on

Tango · #90 12/17/13, 06:52 AM

Thanks ya'll. It is hard to put everything into a post or even into a thread. i left for 5 weeks at the beginning to a friends in another state when i needed a settled place with shower and laundry to get over scabies which i caught in a cheap motel ( i will never, ever stay in another motel). At the time I left most of the posessions I was given to start over including camping gear, tools and gardening equipment They were left in a screened tent in plain view of the road and nothing was stolen. I lived in a screened tent for the first three months and was never disturbed. I left for a week during thanksgiving and asked the neighbor across the street if he could watch the place.By this time, the cabin was up and I also had a generator, an auger and expensie cub cadet tiller, all the fencing materials for the fence that wasn't finished at the time, my hens and a barn full of wood from the constuction. nothing was stolen.this is not a wealthy area, though the wealthy live just down the block on the river. people do live in trailers here. that doesn't mean much. some live in older trailers, some in new. i think the only collector in the area lived where i am now. my neighbor told me he had some things stolen once. he's been here seven years and the property isn't fence or patrolled by a guard dog. that said, when i left i took my dogs with me.

i am 5 miles from a small town with a Lowes and Superwalmart (9 miles away from them) and a bunch of other places, restaurants, pharmacies, shops, etc. i am down the street from a seasonal recreation area that i was going to target for my market garden and eggs. i am 10 minutes from the largest weekend flea market in the area. it is a good location.

finally, i'm not a neigborly person. i am a single woman who has learned the hard way to keep to myself. 10.3 acres isn't nearly as big enough as i thought it would be. i would prefer at least 20 acres and far , far from the nearest town.

Tango · #91 12/17/13, 07:49 AM

Quote:

Originally Posted by lorichristie

You are so right! Shame on all those who taken advantage of others and they deserve the eventual circumstances of getting their just desserts. Had your Agent one his/her job, it is likely you wouldn't have been encouraged to buy this property. I have never listed a property I didn't walk and research thoroughly. This includes one that was 19 acres and was very challenging to cover by foot (quite a hike, really) due to the mixed topography. I take my camera and usually have dozens of photos of acreage properties. Not only am I assured of honest first hand knowledge, it helps potential Buyers a lot. Not all can walk the properties before they buy them...

Thanks lc. It is curious for me to see the lack of accountability we have come to expect from professionals. We should always hold professionals to the standards for which they are hired. I'm a slow learner this immediate lesson right when I get back into the world again is very valuable. I hope my experience has helped others see the potential problems in not being able to walk a property. And that you honestly can't trust anyone. Sad.

For the record, I left the nun's order in October or I wouldn't have questioned about a lawsuit.

rambler · #92 12/17/13, 08:11 AM

"As is" or an auction setting always means the buyer takes on the liability of researching and looking into what they are buying. You can not rely upon the seller or his people to do your research for you. You need to walk any property yourself, or hire people you can trust to do so.

It often means there are some issues the seller knows about, and just wants to cash in for whatever people are willing to pay for the problems.

That is just established, time honored way of doing business. A way to wade through all the legal junk and allow open eyed buyers to make deals in a timely fashion. No one really trying to take advantage of anyone, they just want to get a deal done, you look it over and do your due diligence.

Unfortunately you were not aware of this common, known way of doing business.

Sorry you got taken or feel let down by it, but certainly a learning experience for you.

Paul

1sttimemom · #93 12/17/13, 08:26 AM

I'm so sorry this happened and you feel bad about your place. I guess I don't understand??? You said it was "as is" and that you even had an attorney add in that the seller didn't know was as-is meant. Seems that means the seller was truly unaware of the true conditions of the property and didn't know what he was selling. I don't know if legally you have a case or not but seems more like buyer's remorse. If I remember you posted about this property before you bought and had lots of warnings about this type stuff. You proceeded and had to know something of the kinds of problems these type properties can have. I think you are overwhelmed with the amount of clean-up work and costs. Like others have said...take a break and don't get overwhelmed with the entire place. Look at one project at a time. If you decide to sell I would personally not do the owner financing. You are stuck holding the bag if the next person gets cold feet. Sell it honestly and outright and walk away with your head held high.

Tango · #94 12/17/13, 01:08 PM

Just wanted to say that I've called a real estate agent to list the property so it will go on the market tomorrow. I think this is the best decision in my situation. No doubt it isn't what everyone would do, we each have our own criteria for a satisfactory living situation. For me, the extent of the "as is" was completely unexpected and I don't have the skills or the resources to properly care for what needs caring for to make this a productive homestead. Thanks to everyone who offered advice and encouragement.

**Tiempo** · #95 12/17/13, 05:15 PM

Good luck Tango. Reading the thread I was leaning towards staying and taking it bit by bit..but I can understand your decision too.

As we say where I come from, It'll be reet.....ie it'll all work out for the best.

Rustaholic · #96 12/19/13, 08:35 PM

Here I am hoping the land sells for enough that you don't get totally robbed.
Seeing the before pictures in your other topic I just had to come find this one.
I also would really love to see pictures of your cabin, cleaned up property and the pond.

Maura · #97 12/19/13, 08:56 PM

Nun's order? You mean like SoMercy or IHM?

SilverVista · #98 12/19/13, 09:03 PM

I have to admit that for the first 3 pages of this discussion I couldn't figure out why a healthy man wouldn't be up to clearing and fencing that land. Then I read closer. Tango, I think you've accomplished an amazing amount of work already, and fully understand your concerns and fears about making the land productive without it sucking you dry both financially and physically. Prayers that someone out there will be blessed by the acquisition of this place, and that you will locate and be able to embrace a new location with confidence.

ChristieAcres · #99 12/20/13, 12:32 PM

Quote:

It is curious for me to see the lack of accountability we have come to expect from professionals

This is all too common in our current society as a whole, sadly. I wish you well in your future endeavors and hope your property sells soon!

Bret · #**100** 12/20/13, 12:44 PM

Quote:

Originally Posted by Tango

Just wanted to say that I've called a real estate agent to list the property so it will go on the market tomorrow. I think this is the best decision in my situation. No doubt it isn't what everyone would do, we each have our own criteria for a satisfactory living situation. For me, the extent of the "as is" was completely unexpected and I don't have the skills or the resources to properly care for what needs caring for to make this a productive homestead. Thanks to everyone who offered advice and encouragement.

You have more skills then when you started. You did good. You'll do OK> Having a place means constantly making decisions with situations at hand. You have presented an important view into homesteading and land ownership for others to share. Wishing you continued success. Can't wait to see your next project.