A woman called me, she wants to sell part of her property. Her home sits on one parcel and she wants to sell the other parcel. I told her that I would look into it as far as what she can get for it. I think her price is too high, but I haven’t researched it yet. Since this is out of my realm, is there anyone out there with some good advice with how to handle this? Thanks.
You’re on the right track - keep it simple. Her price is probably too high - that’s the norm. This is the same as any other deal but you are dealing with land. If you know how to market the deal, you should be fine. Do the research. Find out how much it’s worth - (appraiser or agent) work the numbers and put in an offer - if she fights you on the value, show her the comps and show her the reality - if she still doesn’t budge - i’d move on.
How do you plan to buy the land? Are you going to buy it or wholesale it? If you’re buying what is your exit strategy? Are you going to build a home on it, sell it to a builder, etc?
I don’t want the land. I just want someone else to purchase it, but I’d like something for it for my time. I just don’t know what to do first.
Sorry my answer above was referring to wholesaling it.
Do your research, put in a contract, assign it and get paid.