Skip to main content

Best way to approach 78 yr old owner of vacant lot next to my property (off-market)

I own a commercial building and recently completed renovations and leased it out. The vacant lot directly next to it is owned by a 78-year-old woman who’s held it for ~20 years. It’s unlisted, vacant land, and I found her through public records / parcel apps. I have her mailing address.

Because my building is now stabilized and leased, I’m concerned other investors will start paying attention to this block. I see this lot as strategically important for future development tied to my existing property, so timing actually matters here.

I want to approach her off-market in a way that: • Maximizes the chance she responds • Doesn’t spook her or trigger defensive pricing • Moves efficiently without being disrespectful or predatory

I’m weighing: • Handwritten letter as the neighboring owner • Door knock (daytime, respectful) • Letter + follow-up cadence • Or a more direct approach I’m overlooking

Specific questions for people who’ve actually done off-market deals: 1. What’s the highest-probability first contact in a situation like this? 2. Does urgency justify being more direct, or does that usually backfire? 3. Is showing up in person ever the right move with an elderly owner? 4. How much intent do you disclose early if you plan to develop? 5. What mistakes most often kill these deals before they start?

I’m not trying to lowball or pressure her — I just want to control the asset next door before outside buyers show up.

submitted by /u/Own-Friendship3364
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1prvduy/best_way_to_approach_78_yr_old_owner_of_vacant/
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

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/
Post a Comment
Read more