Thoughts/opinions on selling small piece of land

[SnowRidge]

I like the fence idea, but don't think it's realistic to put a clause in the agreement about upkeep on it. You can always delay closing until the fence is constructed to your standards, but once the deal closes, there's no way to inforce upkeep on it.

That also goes to the reason I wouldn't sell. There are too many variables for too little return. $10,000 isn't a significant amount of money, and after you take out the fees and taxes in the sale, the remainder is even less.

Eddie

I diagree with Eddie about the fence requirement being enforceable. Those sort of things can be enforced by courts, provided it is written and recorded properly, which will of course, cost money.

I agree on everything else. There is no way I would sell to that guy for all the reasons already stated.

Bottom line, you stand to make less than $10K and your property will be devalued in the process. In the end, you will likely lose money, possibly a significant amount.

 

[dmccarty]

I think the opinions on the higher dollar amounts are right on target.

This seems like this is going to impact you and what you want to do with your land. So not only is it a question of how much the land is REALLY worth to the "buyer" but how much is it worth to YOU too loose that land? As well as impacts with more renters? And your future plans.

I have an instant reaction when people try to buy at very low prices something worth more or sell at very high prices for something worse a lot less. Given that he is trying to s....w you with a low ball, if it was MY decision the price would go up quite a bit. Enough to be very painful for him. After all you don't want to sell.

Later,
Dan

 

[teg]

What we are talking about is Commercial Land... My sister got lucky, bought 10 acres a while back and it was sold last year at $75K per acre... I know we are not talking about acres here but we are talking about Vermont land... Isn't that worth a lot?

 

[SELKIRK]

Not worth it-I could have purchase a lot next to mine a few years ago for about $25000 but I chose not to. Biggest mistake of my life. Today it's worth a ton more and I have a neighbor from ****.

By selling your opening yourself up to douple the number of renters and a owner that double his profit from your land. Remember he dosen't live there, so your lifestlye/piece of mind is not his worry.

Renters in the most part do not concern themselves with the landowners around them. They just dont care if your lifestlye is impacted by their actions. If some thing happens they just move on down the road. FYI-I own a rent house and see this on a first hand basis.

Selkirk

 

[WayneB]

Take the winter to think this through. From what you have told us I believe it is a gain for the developer and nothing much for yourself.

He is offering you 10K and that is way too low. Regardless of the money, it is your lifestyle that is going to take the big hit. I am sure three years down the road you will still be thinking about how foolish it was to sell the land.

By the time it is complete you would net something like half of that and your taxes would be the same, plus you will end up having more part-time neighbors.

If nothing else get a local lawyer to review the situation and advise you on a direction to take.

 

[Rara Avis]

Make him buy the whole parcel...

His proposal to adjust property lines already demonstrates he'll be encroaching on the rest of your property one way or the other...

What are your plans, when kids from the apartments start running thru your Maple Operations?

 

[buckeyefarmer]

By selling your opening yourself up to douple the number of renters and a owner that double his profit from your land. Remember he dosen't live there, so your lifestlye/piece of mind is not his worry.

Renters in the most part do not concern themselves with the landowners around them. They just dont care if your lifestlye is impacted by their actions. If some thing happens they just move on down the road. FYI-I own a rent house and see this on a first hand basis.

Selkirk

I agree with the others, don't walk, RUN from this "deal" cause it's only a deal for him.

I've got the greatest neighbor you could want, except he bought an old house on the other side of him, converted it into a couple apartments, and now the renters run their 4 wheelers all over my property, shoot guns into my woods , let their dogs run loose all over my property and the whole neighborhood. My neighbor has told them not to ride the 4 wheelers on my land, and it has gotten better.