LandInvestors.com Forums **Ask A Question** Owner willing to accept 10% of Listed Price

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  • #14871
    Gerald Harris
    Participant
    Post count: 20

    I often times get owners who reach out to me on my website. This evening I got contacted by an owner who has a vacant land parcel listed for over $600,000. It’s been listed for a little over a month. I submit low ball offers to owners daily. Well, this owner is willing to accept an offer of 10 % of the 600k? I looked up the property and sure enough he owns it. It looks like he owned other lots in the area and sold them. We are going to be talking tomorrow about this deal. My question to you all is why would someone sell their property so low? At the 10% price the comps look incredible

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  • Joe McLain
    Participant
    Post count: 41

    They say that the best day of your life is when you buy your boat and the second best day is when you sell it. He probably just paid the taxes on this in December and now you come along. Could be a tax deed property too so look at what kind of deed he wants to give you and if there are any liens. Standard due diligence. Best of luck.

    Joe

    Gerald Harris
    Participant
    Post count: 20

    Thanks Joe

    I spoke with him today. He just bought the property about 6 months ago and the expenses are eating him alive. Property is free and clear. He has gotten 4 offers buy was unwilling to sell at a discount. He is a beginning investor who hurt himself. His roofing business has slowed down significantly. Funny part about all if this is he told me if I had submitted this low an offer 2 months ago he would have probably cursed me out. Now he just needs out. I just listened to Jack and Jill podcast about don’t focus on the property focus on the situation. This is 1 of those situations.

    Franco O.
    Participant
    Post count: 5

    how did it go with this sale?

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