Finding the right land (Getfing Started)greenspun.com : LUSENET : Countryside : One Thread |
My wife and I have been looking for land for the last 2 years(seriously looking last few months) and need some input.We have pretty much decided on Middle/East Tn. We are looking for enough land to be a buffer from suburbia and still be able to get to town for work.Unfortunately we can't stop working yet,although we both would like to.Up to 45 min drive is fine as we do that now.My vision(dream) is to get as self sufficient as possible as far as food and maybe try and find something to bring in money on the farm. Most land we have seen is WAY TOO steep for us and anything rolling or level is getting gobbled up by developers.I have put a minimum of 20 acres as what we would need ,do ya'll think this is enough/too much?We don't need a house on the land but it would be a nice plus.I am thinking of about 1/2 woods 1/2 open.Also do you think the price listed by most realtors is negotiable?We think one of our problems is we are limiting ourselves to$50000-65000 tops and anything we see that seems promising is more.One consideration is we would also need to be in relative close proximity to SC as my wifes family is here. Thanks for the input
-- Jon Hanson (warpaint@islc.net), January 02, 2002
Unless someone puts the word "firm", next to the price, the price is always negotiable, and even if the price is firm, the terms (how you pay over time) are always negotiable.Also, depending on how you go into this (are you only contacting the listing agent on the sign, or do you have your own agent (in most cases also a seller's agent, but still someone you may have come to trust)?) the agent can always choose to take less commission if it will close the deal, especially in bad markets when things aren't selling.
Just don't make the mistake of telling the agent "we can afford to go a little bit higher than what we offered" because agents talk. It is human nature and they will, so keep things like that to yourself.
It could be that somewhat over your stated budget is what the market will bear right now, so you may have to go higher than you want. That can happen as markets and interest rates change. Good Luck.
-- GT (nospam@nospam.com), January 02, 2002.
If less than half of the land is open, you may want to see if some of the wooded area could be logged profitably. As long as SOME of the land is open now you should be able to start building/planting or whatever now, and deal with the stumps at a later time.
-- Terri (hooperterri@prodigy.net), January 02, 2002.
Traditionally, it is understood that it is completely fair to offer up to 20% less on a listed house/land's asking price. All real estate is bought by negotiation, unless you want it desperatley or have competition in purchasing it.
-- Annie Miller in SE OH (annie@1st.net), January 02, 2002.
Offering 20% less is quite common, and Annie is right. Only in the San Francisco bay area (like last couple of years) was a different scenario happening--sellers were getting OVER their listing price because there was a huge bidding frenzy. Of course, that's not the case right now, although prices there are still high.You can even offer less money, based on what you think it is worth. One way to determine that is to look at public records, which will show what was paid for the property, whether they still owe on it or own it free and clear, etc. There may be a lot of difference (they may have owned it a long time) or a little (they just purchased it recently and have little equity in it).
-- GT (nospam@nospam.com), January 02, 2002.
All prices, and fees are negotiable; period. As a working broker in my state I am here to tell you that everything can be, and is negotiated, all the time.Jon, you might want to consider a smaller parcel of land or even land that lays rough. The listed prices of land are often based on what someone thinks is desirable. Fortunately we do not all think alike. Incidentally the "listed prices" that you see are always set by the (often greedy) seller, no exceptions. The realtor can not set the price.
I just started reading a good book, with a lot of info about land and land usage in it. Thr book is "Husbandry" by Nathen Griffith. I think it is abailable on the Countryside bookshelf. Very good information about selecting land, he seems to think smaller is better. Good luck in your searching.
-- OH (edcopp@yahoo.com), January 02, 2002.
Hi Jon,This was posted here at CS.
I have a 30 acre farm in East Tenneessee.The house is 24x44 with a 12x44 covered porch.An apple orchard,garden and two outbuildings.I am asking $79,900 but this is neg.If you are interested or have any questions please e-mail me.Don www.donschwartz2002@yahoo.com
I believe that Don could be a good person to start out talking to. You can even tell him that Kenneth in NC told you about it. (probably won't help can't hurt)
:o)
-- Kenneth in N.C. (wizardsplace13@hotmail.com), January 02, 2002.
A good friend of mine just bought around 30 acres of gorgeous gently rolling land about 30 miles outside of Nashville for around $2000 per acre. Everything is negotiable. Doesn't bother me a bit to negotiate at Wal-Mart. If you see something you like, offer what you're willing to pay no matter WHAT the asking price is. The WORST that can happen is they say no. The best that can happen is you get a great deal. It happens a jillion times a day all across the land. It'll also be a bit easier to find motivated sellers in the slower economic climate right now.Good luck!
Jerry
-- Jerry Hatchett (temp@jerryhatchett.com), January 03, 2002.
Thanks everyone for the replies,we are now looking further up near Johnson City.We just seem to not be able to find "THE" place,I hope it exists:) Off topic but it is SNOWING here on the southern coast of SC!!!!
-- Jon Hanson (warpaint@islc.net), January 03, 2002.
See if your local library can borrow a copy of Les Scher's book on "Finding and Buying Your Place in the Country."
-- Ken S. in WC TN (scharabo@aol.com), January 06, 2002.