I have a partially burned house that I have been trying to sell for approximately 9mo now, and have finally received an offer on it. I decided to sell for the value of the land which is 11K. The highest offer I have received is $4500.00. My question is should I take $4500.00 or wait for a possible higer offer. I know this is not a lot of money, but for a novice this will help me eliminate some debt. If I wait my concern is getting stuck with a bill if the city bulldoze the house before I can get a higher offer. Any suggestions?
You are only going to get the value of the land if you bulldoze the house. Anyone looking at the property is also looking at the cost of demolition and subtracting that from their offer price.
If you will come out ahead with the offer you have in hand plus the insurance settlement, I say sell. You may not get another offer unless you clear the property.
That sounds like a good offer to me. The buyer is going to have to demolish the house and clear the lot. That’s an expensive project.
If this is the best offer you’ve received in 11 months, it’s probably as good as you are going to get.
Make sure he takes the property “as is”, and that he has the $4500 to pay you with-- never sell to anyone who doesn’t have any money.
Get as short a time line as you can for the closing.