How much do you discount a property when nearest neighbor lives in an 80's MH and is a pig?

2 Replies

     Called about a house  today that I road scanned  after being told about it being "a don't wanter hurting for cash"several times.

Rural area on highway.the owner said he was looking for $215 and that it had been empty three years I let him talk awhile

   I told him "no way in hell it it was worth that ! maybe $60" He wasn't impressed and we got off the phone.

(checked around and his dad passed almost five years ago and water has been off over four years)

Less than an hour passes  he calls and I let him leave a message later he calls again and I answer.

     He told me the back door was open and to go look at it ,it's a 3/2 ,garage is only two car  and has a 1200ft shop and two smaller sheds 20 acres

If no under the slab water line breaks it looks to be mostly clean up an acre around house and  spray a couple five gallon buckets of paint.

I thinks its worth $140 min (a friend who has a lot more experience than me said he would go $160 )

so I told owner I may go to $70k

Because of the junker MH on the 4 or 5 acres next door made it worth a lot less to me

 Owner is down to $130's  from his crazy $215

So, just putting this out there, when you use words like "crazy"...

The value is $140,000.  

Your initial number was $60,000.  $140,000 - $60,000 = $80,000.

His initial number was $215,000.  $215,000 - $140,000 = $75,000.

His "crazy" number was closer to the market value than you were.

If it's worth $140K and all it needs is cleaning and paint, an offer of $60-70K is way off the mark.

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