# Well that's that. Keeping to just 40 acres



## crazyfarm (Oct 29, 2013)

We really wanted the land next to us. Appraisal came in at 97k. Bit insane imo for our area. We offered 70. Neighbor came back and said they refuse to take less than 100k. So that's that. It's only 3k over the appraisal but it would be a stupid move to buy land at more than it's worth. So we'll stick to our current 40 and pray to God nothing bad goes in next door.


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## ChristieAcres (Apr 11, 2009)

Sorry to hear that, pretty disappointing... I sure don't blame you for your decision as $30K is a pretty big swing, if $70K was the top you could afford. If $97K was the appraisal and you could afford it, wouldn't be so bad. I also hope the property sells to the right people...


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## Terry O (Mar 8, 2004)

That's always the worry when adjoining property goes for sale, who's going to buy it, and what are they like? More importantly, what are their plans for the property? Don't dream up nightmares, you may get great new neighbors like we did! Best of luck.


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## crazyfarm (Oct 29, 2013)

lorichristie said:


> Sorry to hear that, pretty disappointing... I sure don't blame you for your decision as $30K is a pretty big swing, if $70K was the top you could afford. If $97K was the appraisal and you could afford it, wouldn't be so bad. I also hope the property sells to the right people...


We were hoping to meet at 90k. We could technically afford 100k and yeah, it's only 3k above appraisal, but it seems like a stupid move. Plus his refusal to deal is a bit grating.


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## tarbe (Apr 7, 2007)

crazyfarm said:


> Plus *his refusal to deal* is a bit grating.



That right there has cratered many a deal!


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## poorboy (Apr 15, 2006)

Acres in the property?..


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## LoonyK (Dec 12, 2009)

crazyfarm said:


> but it would be a stupid move to buy land at more than it's worth.


Really depends what value a person places on it. A lot of people pay more than market value to get land right next to theirs. I would too if given a chance.


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## crazyfarm (Oct 29, 2013)

poorboy said:


> Acres in the property?..


It was 40. Where we live it's all divided into 40 acre plots.


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## crazyfarm (Oct 29, 2013)

LoonyK said:


> Really depends what value a person places on it. A lot of people pay more than market value to get land right next to theirs. I would too if given a chance.


Perhaps for live ground but his property is worse than ours as far as health of the ground goes. He's been running horses on it forever. We really did think about it. We still want it. We just aren't willing to pay that price.


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## wogglebug (May 22, 2004)

It may be worth thinking about what you really would pay, setting up family trusts or companies (maybe "Purgatory Pigs and Poultry", "Ducati Ducks, Durocs, Drugs and Desperados", "Purine and Pyramidine Perfumery", "Cyanide and Sulfur Stills and Sedimentation Services"), and have them make low offers through agents - say lawyers or real estate agents - located not right there. If the neighbour is trying to hold you up just because you're a neighbour and he thinks you'll pay more, then maybe he'll be prepared to move on the price if he thinks he can stick it to you.


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## ChristieAcres (Apr 11, 2009)

wogglebug said:


> It may be worth thinking about what you really would pay, setting up family trusts or companies (maybe "Purgatory Pigs and Poultry", "Ducati Ducks, Durocs, Drugs and Desperados", "Purine and Pyramidine Perfumery", "Cyanide and Sulfur Stills and Sedimentation Services"), and have them make low offers through agents - say lawyers or real estate agents - located not right there. If the neighbour is trying to hold you up just because you're a neighbour and he thinks you'll pay more, then maybe he'll be prepared to move on the price if he thinks he can stick it to you.


 That practice is considered fraudulent in most of the US... 

It is legal, in most places, to have a REAL person make an Offer and transfer it to a different Buyer during the transaction. Often Contracts allow for this provision...


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## crazyfarm (Oct 29, 2013)

Either one wouldn't work. He didn't list the property. He just mentioned to me one day that they were planning for retirement and thinking of selling the property. We approached them.


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## Twobottom (Sep 29, 2013)

I think you are being too stubborn. That 10K will not seem like much ten years from now and once its sold you will have no power to control who or what goes on there. Remember estimates are only roundabout "estimates" they are not guarantees of the value. It might be worth more or less, it might be worth more TO YOU, or less to somebody else. You might make out well paying 100k over the long run.

If it was me, I would be willing to pay more to guarantee my solitude and peace of mind. In the long term, land goes up in value while dollars go down.


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## Lookin4GoodLife (Oct 14, 2013)

Out of curiosity, who did the appraisal? It wasn't the guy's cousin or anything was it?


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## crazyfarm (Oct 29, 2013)

Lookin4GoodLife said:


> Out of curiosity, who did the appraisal? It wasn't the guy's cousin or anything was it?


Ha. I know right. He actually told me on the phone that if I met with the appraiser I could let them know that I wanted it to appraise at the full value for loan purposes.

Love my neighbor. We get along great. But he's an older guy with lots of experience. I'm in my 20's and a blonde woman. I feel like he's trying to take advantage of me. 

I want the property. I want it bad. I know all the reasons for buying it. We were hoping to settle on 90k. You have to put 30% down on land only loans. We could easily do 20-25k as that's the amount of the oil check we are getting this month. We didn't want to dip into savings to do it. When I say "we" I mean my husband. He's like a dragon, hoards money. So talking him into doing this at all was hard. Add in the neighbor refusing to negotiate and my DH is totally uninterested.


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