Made an offer to a seller for 7.3 acres at $3,575.00 per acre ($26,101.11) . Turns out she wants to sell ALL the acres, which are 23 acres, including the 7.3.
If I run the numbers at 35% of what properties of 20-25 acres are selling for, I get about $1,028.06 per acre, which equates to $22,617.21 offer, $4k lower than my initial offer for almost triple the land…I’m sure that wouldn’t sit well with the seller.
I ran numbers for other offers I sent, this mailer I sent offers to 5 acres and 10 acres and the 10 acres were priced at $2,030 per acre. If I use THIS pricing, I’d be at an offer of ~$46k, but I’m not sure that would be a smart move.
What would you do in this case?
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