Fair Pricing of Vacant Land on lease option or other mechanism
Hi All
We want to develop on vacant land that we believe to be $600K present fair value. Our desire is to negotiate with land owner (motivated seller but not distressed) to pay for the land in 2 years time (post design-build-flip). What would be considered a fair price given current interest rates and what other variables should also be considered. I'm thinking lease option is the way forward though unsure of how to structure and prices to pay. I'd be open to any other financial mechanisms that would secure also the land.
Thanks for reading and extra thanks if you respond!