making an offer

[minnieandmickeymouse]

This is all new to me. We are looking for land, and wondered how much lower then an asking price is reasonable to offer? Lets say the land price is 47,000. What would you offer?

 

[OhMari]

With land, unless the seller really wants to get rid of it, I would say $2,000 less. Land is an asset that will never depreciate. They will probably counter offer even that and bring it back to $46,500 and settle on $46,000.

 

[barkley]

depends on the market in the area and how long this one's been listed. if it's been sitting there a while i might offer much less than if it's a new listing.

also depends on what you bring to the table-will it be an easy transaction (all financing allready done, no major inspections or requirements on the part of the seller?) i think most sellers place a high value on the time/hassle factor.

 

[Laurajean1014]

What do YOU value the land? The seller has his price, the appraiser has their price and you have yours?

I would start at $38,000 and work my way up. ('Cause you can't work your way down).