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  1. #1
    Bronze Member
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    Oct 2004
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    Hiltons, VA

    Default Info on making offer on land not for sale???

    I’d like to make a couple of offers on two plots of land close to our farm. Neither is currently for sale, but I’d like info on how to present the owners with a legal offer to see if they would consider selling. What could I do that might “tip the scale” in my favor? I’d thought about going to a real estate attorney and asking if he could draw up some sort of simple offer contract. Has anyone done this before?

    If there is another area of the forum or another forum all together that would be better to post this type of question on, please let me know!!! It seems most “farm” type forums don’t really have anything about buying land and most “real estate” forums don’t have anything about buying farms. [img]/forums/images/graemlins/frown.gif[/img]

  2. #2
    Elite Member
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    Jul 2003
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    3,373
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    Goffs Corner, KY
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    IH 2444

    Default Re: Info on making offer on land not for sale???

    I would just go and talk with them rather than present them with "legal" papers. Legal papers seem to have a vinegary aftertaste to me, sugar will probably work better. You might have to plant the "seed" and then wait a while for them to decide. If you plan on farming on the land you might let them know that, many people don't want development and would rather see the land farmed or grazed. If they do not immediately decide to sell to you, just respectfully ask them to consider you first if they ever do decide to sell.

    Ben

  3. #3
    Platinum Member
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    Jul 2002
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    787
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    Florida
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    YM 187 Yanmar / JD 790

    Default Re: Info on making offer on land not for sale???

    Kmanvt:

    You may have better luck with a question like this over at Countrybynet (CBN) it's the sistor of this site.....not sure you knew about it?

  4. #4
    Veteran Member
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    Default Re: Info on making offer on land not for sale???

    kmanvt,

    Before you take a lot of steps creating any type of formal offer, I would approach the owner to see if they have any interest in selling.

    If they're in no way interested (welcome to my world [img]/forums/images/graemlins/frown.gif[/img]) it didn't take you much time and you have no money invested.

    If they are interested, you could then elaborate on what you're interested in but I wouldn't make any offers nor give indications on what you're willing to pay. On the initial conversation, either leave it out or let them bring it up.

    For next steps, I'd be checking out all kinds of different facets required for the purchase. You probably know the list and how long it is so I'm not going to list, but you can bet most things on this list will cost $ so you'll have to consider these in the pricing/value.

  5. #5
    Super Member Robert_in_NY's Avatar
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    Aug 2001
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    Silver Creek, NY
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    Default Re: Info on making offer on land not for sale???

    slowrev said it best. Go talk to them and just put the bug in their ear. For all you know they just might be thinking of selling and you might be the one that gives them that extra push. We bought 35 acres from a guy who just kept paying tax on the land and never visited it. When we called him up and asked if he wanted to sell he was quite happy we called and sold it to us for $16k. Same with the 45 acres we bought a couple years ago, bought it from our neighbor who knew we wanted more land and when he decided to sell it he gave us first option. Now we are waiting for our other neighbor to get back to us on some land that will finish our block out. Never presented any papers as that comes later after you have come to an agreement on wanting to sell, what to sell and for how much. The less the lawyers are involved the cheaper it is. Why pay the lawyers to discuss the price and details when you can do it yourself. Bring them in to draw up the final contract and do the proper background work and other legal stuff.

  6. #6

    Join Date
    Aug 2001
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    472
    Location
    Central NY
    Tractor
    Kubota B7500HSD

    Default Re: Info on making offer on land not for sale???

    I agree with what Robert said; had kind of the same situation as him.

    I drove by a neighbor's house who live on a road perpendicular to mine, but our lots connect in the back in an L shape. They had a "for sale by owner" sign out front. Their land was actually two tax parcels - a small parcel that the house sat on, and a larger parcel that was all old field that butts up to my land.

    I called to ask if they had any interest in selling me the field lot. Turns out that the considered calling me (we didn't know each other) to see if, as an ajoining neighbor, I would want to buy it, but he never did.

    End result is that they did sell it to me. I offered a price that was based on the assessed value, which I had compared to other vacant land in the area.

    So...in a long winded way...just call them on the phone and ask, you may be surprised at the answer.

  7. #7
    Super Member
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    Default Re: Info on making offer on land not for sale???

    Ditto what Robert said. Just be nice and approach people face to face and be friendly. There's no "way" to do it. Most people I know, myself included, usually get pretty cautious and wonder what the motive is when you see typed papers, legal offers, etc. Just keep it friendly and go from there.

  8. #8
    Super Star Member
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    Upper Midwest USA
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    Default Re: Info on making offer on land not for sale???

    The personal contact, and saying how much you like the property, would be a good beginning. If in the initial feedback, there is any hint of entertaining a thought to sell, then have a real estate lawyer draw up an "Offer To Purchase". When I had a similar situation, the RE guy suggested putting a 2 day time limit on the Offer, as that would limit the seller from having time to gather other counter offers, and save you being involved in an "auction-type" sales game.
    Not sure if this is really a problem, but it sure worked good for me, and I appreciated the 'heads-up' from the RE lawyer.
    (I am not a big fan of lawyers, either). [img]/forums/images/graemlins/grin.gif[/img]
    Good luck with your endeavor. If they are already 'lots' then selling must be in the owners mind. Never know when the time is right for the seller, but good to find out. The seller may just be contemplating when and how to go about selling, and not have the gumption to begin the process.

  9. #9
    Elite Member SPIKER's Avatar
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    Ohio, Jeromesville, Ashland County
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    Jinma 284

    Default Re: Info on making offer on land not for sale???

    I agree with others, speak to them first, and state that you own the property next to the lots and was just wondering IF they may want to sell it someday. this leads to more conversations. usually at the same time of the first meeting. don't push them for any prices right away but doing a bit of homework first would be benificial as far as knowing the tax assement values and check for sales of land in same area & descriptions ect. this way if they say sure I'll sell it for XXX bucks well then you can speak as to how much going rates of land in local area has been. also leave out the attnys untill prices have been set and such paperwork and title search should be done by them (attny) and paid for by YOU after they agree to the price & selling verbally with a witness. if they want to back out then you can ask for the $ back stating you have a verbal contract and hopefully they won't back out but if you present to them the fact that you have incured expenses and only want that back they may end up selling it to you anyhow just to avoid having to pay for the feees owed (or possablely getting sued for it by you [img]/forums/images/graemlins/wink.gif[/img] )

    I have a few acres right by my place I spoke to the guy even before I bought it and he said he would be interested in selling to me, and spoke to him one time since and same thing he would sell but the general feeling is he wants top$. something I can't afford. needless to say it is just a big weed field now with nothing but a few pines growing so buying is getting more reasonable and the lot is small and can't be built on so it has to sell to one of the 3 people bordering it if sold this is a big barganing chip for me AS the other two have no interest! [img]/forums/images/graemlins/smile.gif[/img]

    MarkM

  10. #10
    Elite Member SPIKER's Avatar
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    Ohio, Jeromesville, Ashland County
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    Jinma 284

    Default Re: Info on making offer on land not for sale???

    I agree with others, speak to them first, and state that you own the property next to the lots and was just wondering IF they may want to sell it someday. this leads to more conversations. usually at the same time of the first meeting. don't push them for any prices right away but doing a bit of homework first would be benificial as far as knowing the tax assement values and check for sales of land in same area & descriptions ect. this way if they say sure I'll sell it for XXX bucks well then you can speak as to how much going rates of land in local area has been. also leave out the attnys untill prices have been set and such paperwork and title search should be done by them (attny) and paid for by YOU after they agree to the price & selling verbally with a witness. if they want to back out then you can ask for the $ back stating you have a verbal contract and hopefully they won't back out but if you present to them the fact that you have incured expenses and only want that back they may end up selling it to you anyhow just to avoid having to pay for the feees owed (or possablely getting sued for it by you [img]/forums/images/graemlins/wink.gif[/img] )

    I have a few acres right by my place I spoke to the guy even before I bought it and he said he would be interested in selling to me, and spoke to him one time since and same thing he would sell but the general feeling is he wants top$. something I can't afford. needless to say it is just a big weed field now with nothing but a few pines growing so buying is getting more reasonable and the lot is small and can't be built on so it has to sell to one of the 3 people bordering it if sold this is a big barganing chip for me AS the other two have no interest! [img]/forums/images/graemlins/smile.gif[/img] Other thing is speak to them just about the time tax mailers come out maybe two weeks later! lol

    MarkM

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