Best way to approach someone with land purchase offer?

[valmom]

We looked into this scenario with the lovely, lovely open, 17 acre field abutting us. An out of state relative of the people across the street owns it, and we told the neighbor that if it ever came up for sale, we would be interested. Did I say it is a gorgeous hayfield?

Well, it turns out that her asking price was $7000 per acre (more than we wanted to/could pay), there was a deeded right of way on it from the road along our property line to the back woods, and TWO septic systems from the houses across the road. (and there is no way those neighbors wouldn't blame us for septic system failures and need new systems if we bought it.)

Oh, well, it's not happening. Find out what- if any- encumberances are on the property!

It is still a gorgeous piece of land and I am really sad every time I look at it.

Good luck!

 

[smithx9]

When my sister and I were young, unmarried girls, we bought a mobile home that sat on a rented lot. We agreed that the first one to get married got to keep the trailer and the other one got the boot! (I got lucky and found a great guy....she's still single after 20 years!)

My husband and I paid the lot rent each month, and every few months, I would let the owner know that if she were ever interested in selling....we would buy....eventually her husband wanted a new tractor and we got the lot!

Next door to us is an old Jim Walters home that was built in 1964. It was the "HOME HOUSE" for the family that had owned a large portion of the area around us for years. When the matriarch died, she split the property between several heirs..(the lot owner we bought from being one of those)...anyway...the owner kept the place for his mom, and would come out and mow the grass, fix things up, etc.....we became friends. Eventually, we began mentioning "If you ever decide this is too much to keep up...let us know, we will buy." One summer, the gentleman had not been able to keep up the mowing quite as well and we had a RATTLESNAKE come into our yard from his. One of my children almost stepped on it! The next time we saw the gentleman, we mentioned the snake...and again planted the seed that we would like to buy. I guess he had enough of mowing grass that was not his...he offered to sell it to us. We were in no way ready to buy! I was in the hospital recovering from an etopic pregnancy that had ruptured. And we had no cash on hand...BUT we scrambled around, sold some stock and bought the place. Increasing the size of our little spot to just over 2 acres.

Adjoining our property is a 20 acre hay field. We saw neighbors come and go and each time we would tell them, "If you ever decide to sell, let us know...." One neighbor split the property, sold the field to a hay producer and sold the house/barn/ woods to someone else. After several years, the hey producer began having health issues. We would mention to him..."If you ever decide to sell....let us know." He did not. We found out the hard way! Some one was driving across the field digging perk test holes!!!
That was not a pretty site! We found out the hay producer was selling and there was a developer interested! Now, I don't know about you guys...but I really don't want or need neighbors right up on my property line....I would not be able to yell at my kids when I needed to! (LOL..) SO we scrambled around again....borrowed $20,000 from the bank, sold some stock, and took out a private, no interest loan, with a really good friend. We bought the land, rescued it from a housing subdivision, and managed to keep the property as farmland.

Now the bank is paid off (in less than four years), the private loan has a few more to go, but as far as the "system" is concerned, its paid out free and clear...

Now, there's just the matter of 20 acres on the other side of the hay field...We're reminding the widow every few months..."If you ever decide to sell......"

 

[Julie08]

We bought a house this way, my husband went to the town got the peoples name who owned it wrote them a letter told them we were interested. we had discussed what we were willing to pay which was 150,000 at the time. They called and said you can have it for 150,000 lived there for 3.5 years sold it for 205,000

 

[big brown horse]

Nive profit Julie08!

Welcome to the forum!