Investor · Greensboro, NC · Member since 2014 · 12 posts · 2 votes
Ok, I found this 14 acre property in NC (FSBO) heirs looking to sell. Home needs updating and decluttering. Currently, has livestock on property that is "mowing the lawn" for a price. Looked up tax record found assessed value and compared to surrounding areas. Unfortunately, there are not a lot of properties in the area to go on ( range 130 - 193K), these numbers were based on Zillow and tax assessed value. Owner claims original price of property was 500K.
I did inform the owner based on the research that I have done 500K is probably not possible. So, my question is how do I put together a reasonable and sound price, without insulting the owner with little comps that are available? Good news, I can see the potential for income production from livestock or land development.
Investor · Valdosta, GA · Member since 2015 · 187 posts · 112 votes
11y
I know quite a bit of time has passed since this was posted, but I'd like to know how things turned out on this particular deal. I'm currently in talks with a homeowner who's property sits on 24 acres - 21 of those acres are undeveloped and used for hunting and fishing (a stocked pond is on the property).
I'd appreciate any insight you have based on your experience with the land mentioned in your original post.