Hi All,

I have a lead on someone that is considering selling around 45 acres in Nacogdoches, Texas. The land is mostly cleared, has three ponds, approximately 5 acres are hay, and is a mix of red clay and dark soil. He wanted to know what I could offer him and I am not sure where to start. Based on some research I've seen that lots that size in that area are going for 5k-8k (with outliers going for more and less, of course). I know the negotiation idea of getting them to say a price first, but this man is just considering selling and I would like the practice anyway of determining the numbers. 

I'm looking for advice on how to come up with a fair offer on vacant land and what sort of questions I should be asking a seller when working with just land. I asked about if the land was cleared or wooded and soil types, but I don't know what else I should be looking for in vacant land conversations.

Thank you,

Ashley