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Purchasing Land Question
Posted on 4/27/15 at 2:59 pm
Posted on 4/27/15 at 2:59 pm
I am looking at purchasing two acres in Lafayette. The appraised value came in at $90,000. It is heavily wooded and will cost around 25k to clear it out. Should I use this in my negotiations. She has no listed price at the moment. Just looking for some opinions on what would be a fair offer.
6
Posted on 4/27/15 at 3:00 pm to JakeMik
How would you use that in negotiations? If she had it cleared, it would appraise for more than 90k. Or am I missing something?
Posted on 4/27/15 at 3:09 pm to DownSouthDave
Land is being sold as is. I was just wondering if the clearing price could be used in my negotiations, if its not a common thing no biggie, just did not want to offend the lady with a low offer due to the price it will take to get it cleared. Im buying it as is, so i guess she can care less what it cost to clear
Posted on 4/27/15 at 3:14 pm to JakeMik
I'm pretty certain that it's appraised value is the value of the land in it's current condition. Any money you spend improving the land will add to the value and it will be worth that much more in the future. (hopefully)
I wouldn't be worried about offending with a lowball offer though, it can't hurt to ask.
I wouldn't be worried about offending with a lowball offer though, it can't hurt to ask.
Posted on 4/27/15 at 3:16 pm to JakeMik
Where are you getting 2 acres in Lafayette for 90k?
Posted on 4/27/15 at 3:40 pm to yellowfin
I know of a few places in Milton (Lafayette Parish) that have lots going for $40k an acre. On spot is a 2 acre lot and another is 3 acre lot.
Posted on 4/27/15 at 3:45 pm to JakeMik
I sold some wooded land once. I was asking $5000 an acre.
When the purchaser informed me they planned to build condo's on it, I ended up owing them money for the construction cost.
I still can't figure out how that worked, but hey, he was a strong negotiator.
When the purchaser informed me they planned to build condo's on it, I ended up owing them money for the construction cost.
I still can't figure out how that worked, but hey, he was a strong negotiator.
Posted on 4/27/15 at 4:03 pm to JakeMik
quote:
The appraised value came in at $90,000.
Who's appraised value? Actual appraisal or BPO?
In any event, if it is wooded land being sold as residential, they I think the asking price would obviously take site prep into account.
quote:
25k to clear it out.
That seems high to "clear" it. Are you also talking about some pretty heavy dirt work too?
Posted on 4/27/15 at 4:37 pm to JakeMik
Negotiatons are meant for negotiating. No harm in asking. Just my $.02
Posted on 4/27/15 at 9:02 pm to gumbodawg
Would think logger would pay you for 2 acres of timber unless that's not what's being cleared.
Posted on 4/27/15 at 9:32 pm to JSM
25k to 'clear' two acres is absurd.
Posted on 4/27/15 at 10:06 pm to JakeMik
man, that is a hell of a lot of cash for two acres of wooded land...must be in a damn prime spot...
Posted on 4/28/15 at 6:55 am to Spankum
Its all chicken trees, not a hard wood on it which kinda sucks. I got two estimates one was 25k and one was 20k. They cant burn due to the location, so it has to all be hauled off so that is where a lot of the expense is coming from or at least that's what i was told.
Posted on 4/28/15 at 7:02 am to JakeMik
I cleared 6 acres of tallow trees, elms, river birches for 6k, and they dug a 100' ditch and put in a 30" 14' metal culvert.
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