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Making an offer

cecil30-30

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Dec 5, 2006
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30,988
Location
Morgan Co
So I have been hunting a 130 acre piece of mtn property in Scott County for about 8 years now. I asked the owner if he was interested in selling as he is a elderly man who lives about 3 hrs from th property. Tax office has it appraised at $115k. I feel like that's not a accurate number. It is land locked and pretty dang remote and rugged. Not much flat land at all. Id suspect less than 10%. There is no improvements on the property but does have some decent timber on it. Anyway he is interested in selling and asked me what it was worth to me. And to make a offer. Obviously I want it for as cheap as possible but at the same time I dont want to insult him. Should I try to make a offer or let him set his price?
 
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backyardtndeer

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Jul 29, 2015
Messages
1,983
Ask him. What do you have to get out of it to let it go. Maybe he tells you a fair number.

I made an offer on a landlocked piece that joins my property. The boy would not tell me what he wanted, he had contacted me to ask if I was interested. Property basically 60 percent submerged most of the year. He told me he could not take what he has in it acted like his feeling were hurt. That has been 6 years ago, he still has the property.
 

DoubleRidge

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Nov 24, 2019
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2,594
Location
Middle Tennessee
If I could buy 130 acre that had a solid stand of timber for 115k there is no question I'd buy it......not familiar with Scott county but in our area the tax appraisal is generally less that what land will actually sell for....I'd either ask him what he wanted for the land or offer him the 115k minimum.....I'd move quick too.....130acre with timber at that price won't be around long if word gets out.
 
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Travis G.

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Sep 5, 2012
Messages
211
Location
Chattanooga
Can I have his number? Jk if you can find some comparable sales I the area that would be best but I think going to him with some actual show of value (tax records or sales) will show him your not trying to insult him. Like others have said and from my research if it’s able to be logged you could recoup most of your investment
 

Hunter0678

Member
Joined
Sep 27, 2006
Messages
563
Location
SE TN, JASPER AREA
Assessment value is normally way below what the property is worth, I have been looking for land to buy for a year, looking at a particular property right now where the assessment is 20k and the property value is 86k, this is for 24.6 acres. The only properties ive seen go for reasonable amounts below 2500/acre are the ones where its a personal deal and not a market value deal. Good luck if you can get it that cheap, even the remote land ive looked at with not power/water any where around is still 3k/acre up to 10k per acre
 

cecil30-30

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Dec 5, 2006
Messages
30,988
Location
Morgan Co
I emailed him yesterday and told him I didnt want to insult him. If he insists that I make a offer, ill mention the tax appraisal at $115k. Maybe I'll get lucky and he will say yes.
 

ImThere

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Aug 24, 2006
Messages
10,126
Location
Lewisburg, Tn
You know what you'll pay, offer it and be done, I will say unless he's like a dad or best friend and not married he's not going to take a lose on it. anything less than tax appraisal SHOULD insult him. you telling him your wanting to take advantage of him and although you want to hunt it your not willing to pay for it.
 

cecil30-30

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Joined
Dec 5, 2006
Messages
30,988
Location
Morgan Co
You know what you'll pay, offer it and be done, I will say unless he's like a dad or best friend and not married he's not going to take a lose on it. anything less than tax appraisal SHOULD insult him. you telling him your wanting to take advantage of him and although you want to hunt it your not willing to pay for it.
Not looking to take advantage of him and I am well aware that the tax appraisal doesn't always equate to market value. I just don't want to over pay either. Why should I pay more if hes willing to take less? He has owned the property since 1984 and has literally done nothing with it. Probably bought as a investment. I dont like pricing other folks belongings qhen trying to purchase them.
 

timberjack86

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Joined
Jun 20, 2011
Messages
9,102
Location
Polk County
If it’s land locked, I would definitely make sure the easement is set up the way you want it before getting too serious.
Exactly, it would be hard for me to even consider buying landlocked land after being in the logging business. I have seen close friends and family become bitter enemies over easements.
 

TAFKAP

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Joined
Nov 6, 2009
Messages
13,441
Location
Memphis
Not looking to take advantage of him and I am well aware that the tax appraisal doesn't always equate to market value. I just don't want to over pay either. Why should I pay more if hes willing to take less? He has owned the property since 1984 and has literally done nothing with it. Probably bought as a investment. I dont like pricing other folks belongings qhen trying to purchase them.

If that's the case, TN property records are generally public. You can find the parcel using this link, and you'll know what he paid for it. Maybe the appraised value is a good starting point.

 

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