creekbend
Super Star Member
No matter which course you take or what decision you eventually make, please find out ALL the facts regarding the Lease. It would definitely be in your best interest to do so.
Land Locked Woods Value
- Thread starter strum456
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teejk
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Around here that is not public information. I ran I80 across your state too many times...is most of your proposed acreage "vertical"? As I recall, land-locked doesn't decrease value much in most places since easements have to be granted under the same old English law that gave us "adverse possession". I would say your cheapest solution is to simply call the woman and ask if she wants to get rid of it.
forgeblast
Elite Member
if its registered with the state type in the info you know here
LANDEX Document Publishing Search Page
LANDEX Document Publishing Search Page
I just spent some time digging through public records. This property has been passed from one person to the next in this family since 1950. In 1950, the property was purchased by who is probably the current owner's great grandfather for $2,600. When multiplied by the rate of inflation, this number is remarkably close to my initial calculation based on tax data and the common level ratio.
I plan to call them and see if we can work something out. It seems that this property has always been an investment for this family. It has been stripped, logged and leased for everything imaginable. It may cost me a fortune in lawyer fees just to make heads or tails of all of this. I don't plan on getting the mineral rights with the property. I would bet that the family will want to retain these, or would sell them for a lot more than I can afford. It may be a win, win though. No more property tax for them- they keep the mineral rights, and enjoy the land.
I plan to call them and see if we can work something out. It seems that this property has always been an investment for this family. It has been stripped, logged and leased for everything imaginable. It may cost me a fortune in lawyer fees just to make heads or tails of all of this. I don't plan on getting the mineral rights with the property. I would bet that the family will want to retain these, or would sell them for a lot more than I can afford. It may be a win, win though. No more property tax for them- they keep the mineral rights, and enjoy the land.
Bikewanderer
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Am I missing something here? Let the seller name their price, then figure out how much you will offer. Who cares if it's a good offer? They either take it or they don't.
Carl_NH
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Strum456,
1) What is your place worth with an additional 100Ac over what you have now.
) The trees eventually will be timbered again - maybe 25-30 years, could be $30-50K there - just depends on your long term to leave that to family/kids.
3) is this property totally landlocked by you alone or are there other potential abutters that could buy it? You said it borders your farm so there may be more than 1-2 interested parties.
At the end of the day more land is always a good thing, so I see no down sides to making them a offer that you can live with (I would think $250/ac is a bargain today), but they may want to shop it around and drive up the price too.
Good luck and I would just call them up
1) What is your place worth with an additional 100Ac over what you have now.
) The trees eventually will be timbered again - maybe 25-30 years, could be $30-50K there - just depends on your long term to leave that to family/kids.
3) is this property totally landlocked by you alone or are there other potential abutters that could buy it? You said it borders your farm so there may be more than 1-2 interested parties.
At the end of the day more land is always a good thing, so I see no down sides to making them a offer that you can live with (I would think $250/ac is a bargain today), but they may want to shop it around and drive up the price too.
Good luck and I would just call them up
forgeblast
Elite Member
Sorry I though they had that county posted. If they are not on landex sometimes you can get the info right from the county website.
sixdogs
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In some states there appears to be a way to un-lock locked land. I say "appears" because in the early 1980's in Maine we bought a few acres of landlocked that adjoined us and in the discussion with the atty I remember him talking about it but since that would no longer concern me I wasn't paying real close attention.
That land, if lock locked isn't worth very much but as noted above, but they might think it is. When I bought mine I just left the owner with comments that if they ever wanted to sell and I had the money at that time, I would probably be interested. I didn't want to appear anxious, which I was. They called soon after and I paid $300 an acre in 1983.
Good luck in your efforts.
That land, if lock locked isn't worth very much but as noted above, but they might think it is. When I bought mine I just left the owner with comments that if they ever wanted to sell and I had the money at that time, I would probably be interested. I didn't want to appear anxious, which I was. They called soon after and I paid $300 an acre in 1983.
Good luck in your efforts.
