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Suggestions for making a winning offer on hunting land
Posted on 4/2/18 at 5:09 pm
Posted on 4/2/18 at 5:09 pm
Through word of mouth I found some hunting land through a private seller that I am going to offer about 10% below asking price. I did my homework and know what they paid and this family is making a good profit for the short time they owned it.
Even though the price they offer is reasonable, how would you go about making an offer that will get consideration? This may be better suited for the OB, but the objective is making the right offer to get the property at the right price.
What tactics would you use? All cash, short close? others?
Even though the price they offer is reasonable, how would you go about making an offer that will get consideration? This may be better suited for the OB, but the objective is making the right offer to get the property at the right price.
What tactics would you use? All cash, short close? others?
Posted on 4/2/18 at 5:13 pm to MadDoggyStyle
All cash usually leads to short close. You might want to stop overthinking it and make the offer before someone else does.
Posted on 4/2/18 at 6:54 pm to MadDoggyStyle
quote:
Even though the price they offer is reasonable, how would you go about making an offer that will get consideration?
not offer 10% below their reasonable asking price.
Posted on 4/2/18 at 7:06 pm to MadDoggyStyle
Offering 10% less than asking cash in hand is fair imo because it reduces some red tape. They'll prolly counter offer up a bit but since you thought the original price was reasonable, then you should be ok with that.
Posted on 4/2/18 at 8:02 pm to MadDoggyStyle
I've never bought just land, is there any structure or rights involved?
Cash is great to guarantee the funds are there, but I'm assuming before you take an offer on land you'd ask for a guarantee of funds/ financing?
Cash helps close a little faster but not really by a whole lot if you need to get an appraisal, inspection, etc.
Cash is great to guarantee the funds are there, but I'm assuming before you take an offer on land you'd ask for a guarantee of funds/ financing?
Cash helps close a little faster but not really by a whole lot if you need to get an appraisal, inspection, etc.
Posted on 4/2/18 at 8:16 pm to MadDoggyStyle
What they originally paid shouldn’t factor in at all. Unless they are idiots, I guess.
Posted on 4/2/18 at 9:16 pm to ATLdawg25
I bought rural, unimproved property in the past. I paid less than 90% of asking so I don’t think that’s an insulting offer. If you offer cash, make sure you have it ready to go. These transactions can move quick. With a cash transaction no appraisal, survey, or title insurance is required. All those items are valuable and should be considered. I wouldn’t purchase without at least a title opinion and a recent survey on record. Some things that you can negotiate are who pays legal transaction fee’s, survey, mineral rights, etc. If the property has timber, agricultural property, CRP, or other revenue sources, someone with knowledge of these items would be helpful.
Posted on 4/2/18 at 9:32 pm to nogoodjr
Thanks for the thoughtful tips. It is land that was put into the Wetland Reserve Program. The Feds built an amazing amount of water control structures to manage the land for waterfowl, but other than that, no houses, barns or shops. Like you, I feel the only thing I need is the title search and then close.
Posted on 4/2/18 at 9:35 pm to ATLdawg25
They purchased less than a year ago, so in terms of property appreciation, there is little. I think knowing their cost gives me a basis for knowing how much to offer with them still making a nice profit. I think they want out quickly.
Posted on 4/3/18 at 12:27 am to MadDoggyStyle
Read the easement for the WRP before doing anything. Those things can be very, very restrictive.
Posted on 4/4/18 at 8:39 am to Bill Parker?
Good point. Wonder if that has something to do with them wanting to sell after such a short period of time.
Posted on 4/4/18 at 12:38 pm to TexasTiger1984
WRP has very strict limitations on what you can do with the property. You cant go bushhog, cut trees, clear food plots and trails, or build structure on the land that is in WRP. If they did not draft the contract to include those activities or reserve places for plots and trails the property will be very difficult to hunt.
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