So, I am looking to buy some land. This land is unrestricted and is 8 acres. It is going for around $100k. The land has a brick "cabin" on it and a small storage shed-looking thing. Both in poor condition on the outside but I'd touch them up/re-build. It is actually exactly what I want. It's in the woods, away from everyone (minus a neighbor but their house is wayyy back away from mine [super long driveway]). I want to live off-grid and this is perfect for me. However, I want to negotiate down.
Listed around $100k but I found property value numbers on the state's website when I put in the parcel number. Apparently, the land and the cabin combined are worth $65k total (12x32 cabin alone was only worth like $5.5k). There's an electric pole nearby (don't plan on using it), a water well is already there but labeled as "not functional." After some digging, I found the owner's name and looked them up.
I found a court record of that 1 neighbor taking them to court due to accessing "their" driveway to access the cabin (shared driveway type of deal). Luckily, the judge sided with the owner of the property I want and even awarded them $100k for attorney fees & such and totally shut down the other dude. There is now a legally-marked easement so that shouldn't be a problem anymore, but I bring this up because I feel like I could use it as negotiating power, like, "well, I saw some court records about a very bothersome neighbor, so I'm not sure I really want to deal with that, so between that, the poor condition of the cabin & shed, non-functioning well, etc, I could offer $x instead." Property also has no mineral rights, so I guess I could use that to my advantage too?
Thoughts? I've never purchased land before. I mean, I'm sure no realtor wants to even ask the owner to lower it because that directly effects their commission, but oh well. Some money is better than none, right? It also looks like the owners have tried selling it since 2022 but kept taking it off then back on for same price since then. It is 5hrs from me and I see it in-person next week with the realtor.
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source https://www.reddit.com/r/RealEstate/comments/1it4rwg/how_much_negotiating_power_do_i_have_here_to/
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