Negotiating land...Any help would be appreciated (Posted on 5/4/13 at 10:22 am)
The wife and I put a written offer on 2acres yesterday in a pretty nice subdivision. The listed price was 89k, we offered 80k with them paying closing cost. Just got the counter this am 84k and no closing. Trying to figure out what I should counter with. Any help would be appreciated.
Little backstory.. Dual agent says the seller wants to sell, isn't going to give it away and doesn't have to sell. We are already pre-qualified only had 1 offer on the land in 2 months on the market for 71k that was rejected. Seller says they won't put any more $$ in the land but if they wait much longer they are going to have to pay to have the land bush hogged.
Poodlebrain LSU Fan Way Right of Rex Member since Jan 2004 14205 posts
re: Negotiating land...Any help would be appreciated (Posted on 5/4/13 at 1:33 pm to livewire225)
Walk away for the time being. After the current owners have had to pay to have the brush removed come back with an offer of $78k and closing costs. Letting them incur some actual cash expenses on the property will give them some motivation to accept a reasonable offer.
re: Negotiating land...Any help would be appreciated (Posted on 5/4/13 at 4:41 pm to Poodlebrain)
The real question is how bad do you want THAT lot? Is it one of many you are considering or is your wife already laying out the house on the lot in her mind. If there are numerous other lots, I wouldn't respond with another offer. Just re-assure them that you consider the property worth 80k.
Are you paying cash? If so, forget the closing cost negotiations. Let them know its a cash offer and you can close in a week. (Assuming it has a current survey and proof of title.)