Advice...needed from some older wiser people

The owner sent me an e-mail today asking if I was still interested, and I responded that his price was way to high and I told him what acreage in that area is going for and I told him when/if his price gets below $125,000 to let me know and I might take a look at it.

Well I just checked my e-mail he sent me a e-mail back saying that he'd take $125,000.....funny how $50,000 just fell right off.



I'll give him another month or so and push it down a little further until its at or below it's proper value.....I wont pay a penny over $110,000, if he wont go that low I'll find some more land no big deal.




American Trucker

 

As my poor ole' departed dad used to say, "Now you're using your head for something besides a hat rack".

 

you offer him 80000 and ill bet he takes it

 

I sure hope so lol I'm gonna take it slow, let him think I REALLY just have to have it but can't quite afford it and make sure he KNOWS I know more then he thinks.

When I first e-mailed him, he came back with all these facts about bank financeing and how they require more down then he's asking....and when I through out the e-mail with all MY facts the price plummets




American Trucker

 

yep he was tryin to play ya but if he is a motivated seller which it shows he is offer 80 as the bottom and he will say 90 and take the deal

 

http://www.cnbc.com/id/42904204

 

Sounds like I need to keep my eyes open for a house. I've been watching some fatly and boy they're going cheap




American Trucker

 

you are going to do whatever you want in the end,but

bottom line,you do NOT make enough to afford a 175,000 note on a property that doesnt even have a house, have you asked about property tax's? zoning???

on a 175k property unless you are superman you will be paying the next 30 years before you can even get a LOAN to build a house.

*edit* only a loan shark would give you a loan for that w/ how much you make,how long youve been at your job and the fact it wont even be a homestead...not even counting your credit...you dont even have 10% down,let alone 20%.

 

if you could talk him down to 80k,and waited until you had an "extra" 8k to put as a down payment,that would be better.

the best way to go about it would be to just say to him that it would be affordable at that amount..or even better if you could get bank financing,and i bet you could get financing as long as your credit is ok as long as you have the 10%...

then you can offer him 80k cash,i bet hes alot more likely to go for a cash offer.

i would check on the zoning first though,and i would also want to know what the property tax's would be like.

 

that creek is awesome!!!!!!! I would love land like that. looks like there is enough fall on that creek to build yourself a little hydro electric power plant. you would have tons of 12v power to charge a battery bank, then get monster inverter. FREE POWER!!!!!!

Owner finance means you can build on it right? just start with a cabin, and go off grid. You could even run that creek water through a sand pool filter, then a reverse osmosis filter. Use this for everything except drinking. If you draw your water from high enough up that creek and have the cabin lower you would have enough water pressure.

Perfect off grid land!!!!!!!!!!! I would be all over that. Just tinker on your home time in a few years you would have a home with no mortgage.