LandInvestors.com Forums **Ask A Question** First Direct Offer Mailer with Weird Paved Access – Would You Do This Deal?

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  • #25579
    Andrew Ajewole
    Participant
    Post count: 5

    Hello Everyone!

    I just received my first signed purchase agreement for a 1.26 Acre lot in El Paso County, CO. I have it under contract for $4,226.97, and the previous owner bought it for $2,137 in 2008. While I believe comps say one acre could sell for around $29,999, $14,000 cheaper than a .74 acre lot in the same neighborhood, and $30,000 below the cheapest 1.38 acre lot in the county. It’s an infill lot surrounded by homes near mountainous terrain and the access is ~16ft wide and ~160-200ft long before it expands to more acreage. The roads are paved and even has google street view access along the neighborhood. My main concern is the thin access point, and the large trees are blocking how level the terrain is.

    ( Pictures added below; google earth not to scale)

    Would you do this deal? And could you explain why, thank you!

Viewing 8 replies - 1 through 8 (of 8 total)
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  • Edgar
    Participant
    Post count: 50
    Pro

    I looked this up cheapest available for sale is going for 10k and it’s 5 acres.
    The cheapest sold comp was for 7.3k and it’s 5.4 acres.

    I’d say that at $4,226.97 it’s a bit to much for this land.

    Andrew Ajewole
    Participant
    Post count: 5

    Would you consider the side of the county it’s on? Properties further south/east of CO Springs are cheaper, this one is in Green Mountain Falls/Cascade-Chipita Park near the western side of the county

    Edgar
    Participant
    Post count: 50
    Pro

    Without an actual APN it’ll be tough to say exactly.

    Andrew Ajewole
    Participant
    Post count: 5

    Oh yeah that would be helpful lol 8316201070

    Brandon Wong
    Participant
    Post count: 18
    Pro

    I wouldn’t do it just by looking at in on google earth. Take my advice with a grain of salt since I’m pretty new to this, but I have a property that has less slopes then this one and people are not willing to purchase it. I would go way cheaper, like 1k and try to sell to the neighbors for 3k. A neighbor wanting to add to there property would be more willing then someone looking to build. The biggest area to put a house is on nice slope

    Kevin Farrell
    Moderator
    Post count: 1645
    ProAdvanced

    The legal access appears to be from two directions. Ute Trail on the north side and Aspen Trl on the east side of the property. Even though those have not be cleared and graded/paved, they appear to be well defined easements. You can verify with the county. I can not speak to the slopes in that area but I would be very cautious about buying land with much slope or with ravines on it. People won’t buy it.

    Kevin Farrell - Moderator
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    Andrew Ajewole
    Participant
    Post count: 5

    Yeah I was questioning if someone would purchase it because of the slope, but a lot of the area is sloped so I thought maybe its normal. I might just avoid it all together

    do it just by looking at in on google earth. Take my advice with a grain of salt since I’m pretty new to this, but I have a property that has less slopes then this one and people are not wil

    Andrew Ajewole
    Participant
    Post count: 5

    I didn’t see Ute Rd as access but I guess there might be some extra road under the trees. I think I’ll pass on this one, don’t want to chance it with the slope . Thanks!

    The legal access appears to be from two directions. Ute Trail on the north side and Aspen Trl on the east side of the property. Even though those have not be cleared and graded/paved, they appear to be well defined easements. You can verify with the county. I can not speak to the slopes in that area but I would be very cautious about buying land with much slope or with ravines on it. People won’t buy it.

Viewing 8 replies - 1 through 8 (of 8 total)
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