Posted by Rexalot on August 21, 2007 at 08:28:14 from (205.245.255.232):
In Reply to: Re: buying land posted by MSD on August 20, 2007 at 16:37:41:
20 acre field next to me went up for sale and before it could be "listed" I put in a bid. Asking price was 150K.
I offered 115K was denied. I waited a day an upped my offer, to 130k. Come to find out there was another interested party. They had offered about the same as I in their first bid and were turned down as well. I went as high as $140K even though I wasn"t sure how I would make that payment. It sold to the guy I was "bidding" against for $143k. The purchaser is the current tenant farmer...
My guess is in a few years it will be back on the market when he retires from farming. I doubt I"ll have the money then, but maybe I could work out a deal for the acreage that goes in behind my place.
If you can afford it, $25K is a small price to pay to add land to your current tract. It may take time, but it will only increase in value and it will add to your current "investment".
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