Camp property search

[ArlyA]

In our bid for this property, we added a clause its invalid if the dam washes out before we own it.. Raining hard here right now. We don't need it.

 

[jjeff]

That's sure seems like a nice looking property your looking at, good luck.

 

[ArlyA]

That's sure seems like a nice looking property your looking at, good luck.

The owners have 4 days to respond but as stated earlier, we have low expectations.

 

[shooterdon]

Sorry, I am too lazy to read the whole thread, but do you know why the property you are bidding on is for sale?

The listing has gone "stale" and the primary reason that occurs is that it priced too high. Trying to understand why the asking price is higher than the market can help you decide what to do. How many owners are there and what is their motivation.

There is a nice camp property 1/2 mile from me. The guy who bought it decades ago passed away. Two of his sons want to cash in and the third son wants to keep it. It gets visited about twice a year and the son who wants to keep it lives in Colorado and has not seen it in over 10 years. He either doesn't need the money, has sentimental reasons or is ticked off at his brothers. But it is not getting sold because of one holdout.

If the property you are looking at has been passed down to the family, family dynamics might be playing into it.

 

[ArlyA]

Sorry, I am too lazy to read the whole thread, but do you know why the property you are bidding on is for sale?

The listing has gone "stale" and the primary reason that occurs is that it priced too high. Trying to understand why the asking price is higher than the market can help you decide what to do. How many owners are there and what is their motivation.

There is a nice camp property 1/2 mile from me. The guy who bought it decades ago passed away. Two of his sons want to cash in and the third son wants to keep it. It gets visited about twice a year and the son who wants to keep it lives in Colorado and has not seen it in over 10 years. He either doesn't need the money, has sentimental reasons or is ticked off at his brothers. But it is not getting sold because of one holdout.

If the property you are looking at has been passed down to the family, family dynamics might be playing into it.

All we know follows. The property owner died last year before retirement age of cancer. He had a wife and kids but the property is being sold by the deceased mans father who resides down state. He made the comment "I didn't know there was a cabin on it" which indicates to us, he'd never seen the property and has no interest in it.

 

[MossRoad]

Reminds me of an old supervisor I had. She went underwater on a house loan in California and defaulted on the loan. Her mom passed away and left her house to this supervisor and her two siblings. Supervisor refused to sell the house because her share of the money would be immediately taken by the collections/loan holder. So she refused to sell, leaving her two siblings unable to get their share of the sale for many years.

Anyhow, back to original topic....

I see you're getting more rain. Curious to hear how the dam holds up on the other property...

 

[2manyrocks]

Sometimes property stays on market overpriced because of some drama on the seller’s part.

I see 2x listings in Nashville vs one year ago with some softening in asking prices.

 

[ArlyA]

Sometimes property stays on market overpriced because of some drama on the seller’s part.

I see 2x listings in Nashville vs one year ago with some softening in asking prices.

We have a house near us that's price was dropped 100,000 since it went on the market. We added the clause about the dam washing out to make sure they know about its condition. Plus we don't want the property if its does. We've had multiple roads washed out here today but of course the property we bid on is an hour drive away.

 

[ArlyA]

No shock, they rejected our offer. Since we are the only binders, they are combining with another property thats just down the road. Combine the prices and put them back up for sale. How will that help? A $700000 property will move better?

 

[2manyrocks]

I don't know why your seller did that.

In general, if a property has been listed for a long time, the seller may not be getting any offers near what they want to sell it for so they try to find a way to relist in a way to make it look a new listing to get potential buyers to look at it again and make offers near their list price.

I know a property that has been for sale for quite a long time. Never bothered to look into it further because I figured there was something that turned people off or it would already be sold.