Bettacreek
Almost Self-Reliant
If you figure out how to find the owner online, please let me know! We have a plot of land beside us that has a ramshackle old house on it and it's all overgrown. We talked about buying it several times.
Best way to approach someone with land purchase offer?
- Thread starter Cinebar
- Start date
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- #12
Cinebar
Power Conserver
Ok.Bettacreek said:
I pulled up the assessor map website but I'm still trying to figure out how to navigate it.
If I can't figure it out pretty soon, I'm going to go ahead and call them.
- Thread starter
- #13
Cinebar
Power Conserver
I gave up trying to figure it out on-line so I went ahead and called the assessor's office. I'm glad I did because I found out lots of valuable information.
For one thing, as of May 1 of this year, it goes into tax foreclosure.
The assessed value is listed as $22,000! And it is buildable. Prior to it's last assessment, it hadn't been assessed in years and the value before this last assessment was $2500. It increased in value ten times between assessments! There is no way I'd pay $22,000 (or more) for it; I was thinking more along the lines of $5 - 6,000.
The fact that it's behind in taxes might give me some leverage. I might offer to pay back taxes (for three years, they're less than a thousand) and offer them maybe $4,000 cash.
It is part of an estate. It is still listed under the deceased owner's name but that it is being "held by" someone by the name of Lenora (widow or daughter or sister?). She lives in Pennsylvania and the property is in Washington.
I'll have to think about it. If I can get it for what I'm willing to pay, great, but I'm sure not going to pay over twenty thousand for it.
Oh, and I have an address but there was no phone number listed for Lenora.
For one thing, as of May 1 of this year, it goes into tax foreclosure.
The assessed value is listed as $22,000! And it is buildable. Prior to it's last assessment, it hadn't been assessed in years and the value before this last assessment was $2500. It increased in value ten times between assessments! There is no way I'd pay $22,000 (or more) for it; I was thinking more along the lines of $5 - 6,000.
The fact that it's behind in taxes might give me some leverage. I might offer to pay back taxes (for three years, they're less than a thousand) and offer them maybe $4,000 cash.
It is part of an estate. It is still listed under the deceased owner's name but that it is being "held by" someone by the name of Lenora (widow or daughter or sister?). She lives in Pennsylvania and the property is in Washington.
I'll have to think about it. If I can get it for what I'm willing to pay, great, but I'm sure not going to pay over twenty thousand for it.
Oh, and I have an address but there was no phone number listed for Lenora.
MorelCabin
Quilting Extraordinaire
It's amazing how much progress you can make with a call to the (here it would be the township office) right place huh?Hopefully things will go in your favour...it sounds like you just might have hit them up at the right time! Get a hold of that owner. They're probably looking for a way to get rid of the headache, even if they don't make much on it. That little peice of property could lead them into a financial mess if they don't get rid of it...I'd be sure to mention this too them, but they probably already know.
To them, it was probably a well intended 'gift' handed down in a will that they have never had any use for and don't really know how to get rid of. Your call just might be an answer to thier prayers and yours!
To them, it was probably a well intended 'gift' handed down in a will that they have never had any use for and don't really know how to get rid of. Your call just might be an answer to thier prayers and yours!
Slinkytoys
Enjoys Recycling
Perhaps just buy it at the tax sale? We bought 45 acres with modular and barn (fully fenced and cross fenced at foreclosure. It had been for sale at 1.3 million. We picked it up for $335,000. Had to pay cash, but it was well worth it. You could have a pre-approved bank note to buy it at auction. There are some really good books out there about how to do all this, check out the local library.
Slinky
Slinky
- Thread starter
- #16
Cinebar
Power Conserver
I touched upon this possibility briefly with the person at the treasurer's office. She said that when you pick something up that way, there are a lot of added fees that have to be paid by the sale - attorney costs and other stuff - which runs the minimum bid up. Also, even though it goes into foreclosure this year, they don't actually sell it until next year (2011).Slinkytoys said:
I don't know.....I'm not going to rule that possibility out but I think my first and best bet is to get my ducks in a row as to how much I can pay and how much I'm willing to pay and sometime between now and April make her an offer.
I'm not sure how to approach her now that I know the property is headed for foreclosure. Do I tell her I know the situation? Or do I play dumb and just make her an offer? I also want to make sure she understands there will be other expenses for me, such as a survey (I have no idea how much that would cost).
I googled her and found a phone number.
MorelCabin
Quilting Extraordinaire
Call and fish her out first...let her lead the converstaion for the first bit...just start by telling her that you might be interested in the property...she may tell you everything. I'd definitely call, nothing to lose there
hwillm1977
Almost Self-Reliant
Definitely call... there really is nothing to lose, and a lot to gain if you can get the property for a great price
We started looking for a rent-to-own property years ago, and spent our weekends driving around rural areas, finding (and wandering around) many abandoned old farmhouses... we called more than 20 people and offered to buy their old houses before we found one who said yes... it got easier and easier to call people by the 5th or 6th one
Now we're negotiating another rent-to-own deal on 117 acres where we will eventually build our dream home
We started looking for a rent-to-own property years ago, and spent our weekends driving around rural areas, finding (and wandering around) many abandoned old farmhouses... we called more than 20 people and offered to buy their old houses before we found one who said yes... it got easier and easier to call people by the 5th or 6th one
Now we're negotiating another rent-to-own deal on 117 acres where we will eventually build our dream home
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- #20
Cinebar
Power Conserver
Thanks, I will.inchworm said:
I have to wait a couple of weeks before I know if I can do it financially. But once I know for sure I can swing it, I will call her.
It is nice to know, too, that it is buildable. I really didn't care one way or another because I'm not interested in building on it but knowing that it is buildable makes it a better investment, not necessarily for me but for my heirs.
