How to convince someone to sell vacant land

[cowboydoc]

I agree with you Darren. If someone came at me with a contract to sign for first refusal and all I wouldn't sell to them either.

 

[BXmark]

One of my neighbors went around to all the large parcel owners back in the 70 and 80s when times were hard and paid them an "Option Fee" usually $500 to for the first right to purchase the property at market value if the owner ever sells. Lots of the cash strapped local farmers gladly took the $500 since it didn't mean actually selling the land. These options are recorded with the deed at the court house. Twice now the properties were listed with realtors, sold to other parties, and when the title search was done it was discovered there was this option outstanding. The clever optioner ended up cutting out that other buyer, subdivided the farms, and ended up making $375,000 profit on one and $240,000 profit on another. Not bad for a few thousand dollar investment.

 

[bgott]

Talk him into a "lease with option to buy". Lease the property from him for the amount of his taxes. That's only fair since you want access to it anyway. Make it a long term lease and include permission to cut trails and what ever else you might want to do. Have it drawn up by a lawyer all nice and legal like. You might even be able to include the price he would sell it for but that might make the deal too complicated to sell him on. At least put a clause in tying the price to the going rate for local acreage. If you have a "lease option" it's a legally enforceable contract, If he sells it out from under you you can sue his hiney off. My grandpa made a ton of money doing that in the early sixties. So much, in fact, the state of California changed laws to make it harder for him to get away with it.

 

[mikim]

try looking for an appraisal district website - even my little county has one and you can look up just about anything by owners name -- 'course the appraised value isn't the same as market value - but it's a guideline to go by
mike

 

[fractal]

Well, my first action would be to get a realtor buddy to do a market analysis of your neighbors property. Then, depending on how firm his NO was, (and how much the property was actually worth) I might write up a fair market value offer and submit it to him.

I don't see anything wrong with making your informal offer more formal. Just don't push it too far if he says no or you might loose the "good" part of "good neighbor". An option to buy all or part of it might be a good idea as well.