Skip to main content

How much negotiating power do I have here to decrease the price?

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.

submitted by /u/Exotic_Argument8458
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1it4rwg/how_much_negotiating_power_do_i_have_here_to/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

warning about Biggins and Scott Brunswick

his is a general warning for people who use this agency to rent a property. I am going to share a disgusting experience that I had with the above agency. I was new to the rental experience after a marriage breakdown so I answered a add on Real Estate .com and met a guy in Maribyrnong to look over a apartment . He suggested he was not only going to be my roommate, but he also worked at the company in Brunswick. All looked good and myself and a lovely lady moved in to the apartment in late March. Everything was going well ,we were paying our rent and things were moving forward with 3 people coming from different age groups and different upbringings. Then on the 25th of June out of nowhere 3 Breach Notices appeared on my email from my roommate but on Biggins and Scotts letterhead. I was completely surprised and after trying to reason with the sender of these documents, I then decided I had to call his boss the Director of Biggin and Scott in Brunswick. David told me that he was ...
Post a Comment
Read more