Love Letters. Real Estate

[TheMan419]

But why does the father feel obligated have to leave his possessions to his children?

Dad works his arse off doing something that he loved, made some money doing it if he was lucky. Then dad leaves the land to the kids and they sell it because it could be worth a fortune.

One of my boys even asked if he could have some land of ours. We both told him when we retire or getting close to that age, everything is going to be sold becuase we're leaving.

God forbid kids actually work for what they buy themselves.

Nothing says that the father has to leave anything to his children. I never said he did. However I would think most parents would want to leave their children better off.... and in a vocation they liked and wanted to pursue.

My parents are using their accumulated wealth to make sure their grandchildren do not have any college debt, should the grandchildren decide they want to go to college. They will have plently left over to live a comforable retirment, and leave a nice sum to each of their chidren should they so choose.

Thankfully none of us children will need it. We are all hard workers and successful in our own rights.

However none of us felt the need to follow in dad's foot steps of his chosen work field.

 

[Whidbey]

Nothing says that the father has to leave anything to his children. I never said he did. However I would think most parents would want to leave their children better off.... and in a vocation they liked and wanted to pursue.

My parents are using their accumulated wealth to make sure their grandchildren do not have any college debt, should the grandchildren decide they want to go to college. They will have plently left over to live a comforable retirment, and leave a nice sum to each of their chidren should they so choose.

Thankfully none of us children will need it. We are all hard workers and successful in our own rights.

However none of us felt the need to follow in dad's foot steps of his chosen work field.

I received an inheritance from my parents when I was in my early forties. By that time I had finished my education, owned a home and had a secure job with benefits. When I was younger I had some tough times. My opinion is that moderate financial support while the children are finishing their education is way better than leaving them a chunk of money at your death.

 

[dodge man]

First I heard of this, I guess nobody wants my house.

 

[TheMan419]

I received an inheritance from my parents when I was in my early forties. By that time I had finished my education, owned a home and had a secure job with benefits. When I was younger I had some tough times. My opinion is that moderate financial support while the children are finishing their education is way better than leaving them a chunk of money at your death.

I totally agree. I had support from my parents through school. It allowed me, when I graduated, to take a job I really wanted to do rather than one that would provide immediate financial security. I think I am better person and better in my industry (some 25 years later) as a result. I am happy to see my nieces and nephews will have the same opportunity (my wife and I have no children).

On the other hand I am also glad no one expects me to go into the same profession as my father. While he was very very good at what he did, it does not hold any interest for me.

 

[Sigarms]

First I heard of this, I guess nobody wants my house.

Per the topic of the thread, "love letters" are only sent when your house is on the market. "Love letters" are not general solicitation letters sent out to buy your propery not on the market.

Just found a letter this morning from Jacob Reed, per Dash Holdiongs LLC from Greenville SC this morning and he found my land while searching through public records at our county office.

He would like to buy 30 acres of my land for $62,000. With an offer like that, it's hard to say no.

 

[fried1765]

Per the topic of the thread, "love letters" are only sent when your house is on the market. "Love letters" are not general solicitation letters sent out to buy your propery not on the market.

Just found a letter this morning from Jacob Reed, per Dash Holdiongs LLC from Greenville SC this morning and he found my land while searching through public records at our county office.

He would like to buy 30 acres of my land for $62,000. With an offer like that, it's hard to say no.

$2,000 per acre would be about $398,000 per acre too light where I live!

 

[Sigarms]

$2,000 per acre would be about $398,000 per acre too light where I live!

If I remember correctly, back around 2004, we paid about $3,500 a acre, and even then, we struggled as husband and wife to decide if we wanted to buy the extra land that came with the house when we bought it.

If we paid $3,500 an acre back then, for 30 acres selling the total land that this company would buy at $62K, we would take a loss for what we paid for the land.

I did call the guy back and left him a message to ask why we would want to take a loss on the land 17 years later.

I'm actually curious if this guy will call me back and explain his line of reasoning for his offer.

EDIT - The guy actually did give me a call back (nice guy, but what else would you expect). At the end of the day, will probably sell locally when we finally decide to sell.

 

[Sigarms]

Ironically enough, the offers keep coming in!

This company however is Veteran owned and operated, makes me feel so much more patriotic by taking them up on their gracious offer of 22k for 18 acres.

The irony is I never got these letters until this subject started on the forum.

I called an left a message. I want to thank the owner for such a gracious offer.

 

[grsthegreat]

Ya, I wonder why they waste the stamps.

 

[MoKelly]

Ya, I wonder why they waste the stamps.

Mine were all put into the mailbox directly - no stamp.

MoKelly

 

[CoryB]

I got an offer letter just today. $26K for 41 acres.



Yeah, right.

 

[NorTracNY]

I got an offer letter just today. $26K for 41 acres.



Yeah, right.

OK, I'll give you $30K. I'm guessing that's your magic number.

 

[quicksandfarmer]

Ya, I wonder why they waste the stamps.

It must work often enough to be worth it.

 

[Jstpssng]

OK, I'll give you $30K. I'm guessing that's your magic number.

That was my first thought also, but I will offer him $32,000.

 

[check]

I had a waterfront renovated cottage that I bought as a repo.
Person got my number and started calling me every 1 1/2 weeks asking if I wanted to sell. I didn't.
I finally put a ridiculous price on it. They accepted.
Simple sale, lawyers only. No realtor.
Once the deal was signed including price, pending a building inspection, they asked me to reduce the price because
the inspector found some stuff. Their inspector spoke french. They assumed I didn't.
They lied their ass off about what the inspector told them.
Once I repeated what the inspector actually said, they shut up and paid for the house.
I did well on it compared to the repo price I paid. In only 5 yrs I made slightly more than double what I paid.

My elderly mother had a letter dropped in her mail from someone wanting to buy her house. She wasn't even thinking of selling at the time.
A couple months later she decided to sell to downsize.
Hours after it went on the market the person who left the letter was there looking at it. He ended up buying it at asking price with plans to gut
the inside redo. (wasn't necc, but I guess he had lots of money to play with).

We have been having a booming market in Canada. Bidding wars over house purchases. Most are getting 25% or more above market asking price.

Here in cottage country, prices have doubled. I wonder why?

 

[check]

OK, I'll give you $30K. I'm guessing that's your magic number.

$35k!

 

[Whidbey]

OK, I'll give you $30K. I'm guessing that's your magic number.

You beat me to it, you rascal!

 

[NorTracNY]

$35k!

I'm out...

 

[Pixguy]

$40k but you have to give me an answer within 60 seconds!

 

[Sigarms]

As long as the 40 acres is accessible and doesn't look like crap, 200k in my mind would be a somewhat reasonable offer.

That said, looking locally before I made this comment, the better pricing for larger tracts (30 to 50 acres) of land in my area are easily 6k an acre.

My wife actually asked me the other day if I would consider selling off my "shooting range" of 20 acres. Realistically I could get by on our side of the creek with 18, but the reality is I could still shoot on that 18 side and hunt as well. This was brought up because my MIL is actually thinking about selling her house to move closer to us, and from what her realtor told her, she could do pretty well, and she was actually asking if we had land we wanted to sell.

I hate to say this, but at this point in time, if (which I don't think could happen) if we could get 200k for 20 acres, I'd actually be inclined to sell. However, I think the house and land would sell better with the full 38 and change.