Camp property found, now updates.

[ArlyA]

I wouldnt expect many other buyers to compete to buy a property with no access to the electric grid. The sellers may have it in their head that the property is worth more than it really is.

It's been on the market since last fall

 

[alexpops]

SO ... sounds like you have the spring/summer to worry about in terms of buyers actually looking at the property. Unlike you, most casual buyers won't be willing to brave snowstorms & icy roads to look at a property they plan on using 1 or 2 times a year for recreation. (I wouldn't believe their bit about another "Interested Buyer" showing up 5 minutes after they rejected your offer & wouldn't be surprised if they counter themselves if they don't hear from you.) If you really want THIS property & If it hasn't sold by this fall, you can be fairly safe offering even less than your first offer under the assumption that critters/lack of maintenance are going to cost you more to repair/replace. At some point the sellers will accept a lower offer because you are the only "real" game in town. Meanwhile, keep looking & let your realtor know you are looking at other properties so they can put pressure on the seller's agent. I faced the same situation from both sides.

The house I'm in now was on the market for close to a year because it was overpriced by the seller/broker. I looked at it & told my broker it was overpriced & I'd keep looking. Almost 1 year later, the seller dropped his price by $50K, & I offered $50K less than the ask (despite warnings from "my" broker that the sellers would be insulted). We settled for $38K less than their reduced ask & I waived some (non-mandatory) repairs shown in the inspection & split the cost of a re-roof of the shed that needed to be done before the mortgage would fund. (They were an elderly couple that had lived there for over 30 years, but couldn't maintain the property any longer & sitting empty wasn't doing anyone any favors after they moved in with their son). From the other side, my dad had a place near Cleveland that became a summer residence when he bought a second home in Florida after retiring. After 10 years of going back & forth between the two places he put it up for sale but asked way too much for the area. It took him almost 3 years to sell it (after lowering the ask), & the funny thing is he wound up accepting an offer for $50K less than an offer he'd rejected part way through the first year. Adopt the attitude that if it's meant to be, it'll happen on your terms, & if it isn't ... there are plenty of other more "perfect" properties out there that will satsfy the needs of both you and your wife.

 

[hayden]

Since the seller just dropped the price, I expect they will want to see what interest that generates. It got them another interested party, so I expect they will want to see how that plays out. If it still doesn’t sell, then I think you have a good second chance to go back to them with your original or similar offer.

 

[BleedingOrange]

As much as a buyer likes to think a realtor is working for them, they are 100 % working for the seller. They just feed the buyer all kinds of donkey dust to convince them to put in an offer. They have been caught many times telling untruths, and twisted info. I would be tempted to talk to another realtor about that same property. It doesn,t matter if it is an exclusive listing, or not. A good honest realtor will do some extra digging for you, to actually tell you the real scoop on what is actually going on with that property.

 

[HawkinsHollow]

I generally agree, and definitely for what to most people would be a non-winter-camp, but solar often gives nearly zero power on the darker winter days - even if it's not actively storming. Then, you have to decide if you like the generator concept (which works great with batteries, of course, but there's still noise).

I think if I was going to have a year-round off-grid setup, I'd want to stick a generator house a ways from the house and run a big cable. I just can't stand motor noises at night.

Yeah, I forgot about the latitude and winter up there. You're right, that would make solar a bit harder, but still not impossible. Shoot, throw up a windmill and your problems are solved!! Backup genny just to be on the safe side.

 

[ArlyA]

Since the seller just dropped the price, I expect they will want to see what interest that generates. It got them another interested party, so I expect they will want to see how that plays out. If it still doesn’t sell, then I think you have a good second chance to go back to them with your original or similar offer.

We thought we'd make another offer after the other folks see it. That are the chances they'll make an offer?? This property does mark all the boxes we were looking for in a property.

 

[ArlyA]

Yeah, I forgot about the latitude and winter up there. You're right, that would make solar a bit harder, but still not impossible. Shoot, throw up a windmill and your problems are solved!! Backup genny just to be on the safe side.

People here are already putting in solar power at there camps. I'd guess 90% of the camps we've looked were not on the power grid but had solar or a generator.

 

[ning]

People here are already putting in solar power at there camps. I'd guess 90% of the camps we've looked were not on the power grid but had solar or a generator.

The further north you are, the better solar is... between the spring and fall equinoxes. It's fantastic for that.

 

[shooterdon]

Be patient. I know it is difficult to do.

Don’t sit on your hands. Find other properties and look at them.

Off grid properties are not attractive to everyone.

Do not trust the realtor.

 

[dodge man]

We have found a realtor we trust. We’ve have bought a house in 28 years but we sold one our son lived in for several years while going to college and she helped our son buy one last year. I trust her 100% to look out for our interest. Arly do you have that feeling with your realtor? If you do trust what they are telling you.

 

[ArlyA]

We have found a realtor we trust. We’ve have bought a house in 28 years but we sold one our son lived in for several years while going to college and she helped our son buy one last year. I trust her 100% to look out for our interest. Arly do you have that feeling with your realtor? If you do trust what they are telling you.

Yes. I spoke with the sellers realtor for 5 minutes and moved to another. This guy has been passing good pertaining info to us.

 

[airbiscuit]

Just out of curiosity, how big and deep is the pond?

 

[ArlyA]

Just guessing, 4-6 acres and 8ft deep at high water. It needs work.

 

[airbiscuit]

Pretty nice

 

[hayden]

People here are already putting in solar power at there camps. I'd guess 90% of the camps we've looked were not on the power grid but had solar or a generator.

I think it's very viable where you are, though you will need a backup generator. We are at about the same latitude, and I expect similar conditions. Winter days are shorter, that's a given, but temps are colder so panels perform better. I have actually recorded all my highest output days in the depths of the winter. But we also get days on end with heavy overcast, and you will get very little production then. That's where the backup generator is critical.

 

[hayden]

We thought we'd make another offer after the other folks see it. That are the chances they'll make an offer?? This property does mark all the boxes we were looking for in a property.

I think there are a number of considerations, and perhaps no obvious best path so you will need to use your own judgement.

The seller dropped the price and it brought in another prospect, so they are probably feeling better about finding buyers. At a minimum, I would expect them to see if the new prospect makes an offer in hopes of doing better than your offer. If they do come in with a better offer, you might lose the place to them.

But if the new prospect doesn't make an offer, then the seller is left wondering how when they will sell. They could accept your offer, or make a more attractive counter. Or if they really think their price reduction will surface other prospects, they may continue to wait rather than come back to you. You could re-offer at any time, keepign in mind that the longer the seller goes without any other interested buyers, the more likely they are to accept an offer from you.

If you make a new offer shortly after the new prospects see the place, I think it signals that you really want it, and at a time when they potentially have multiple people interested. That's the ideal situation for a seller - having multiple people interested who you can leverage to get the best price and terms. This makes sure you are part of any bidding, but will also likely cost you the most $$.

And the other alternative is to just meet their price and buy it. I think I have only ever bought one property where looking back on it, I think I paid too much. And I have bought quite a few parcels very much like the one you are looking at.

It all comes down to balancing the price you can get against the risk of losing the place to another buyer.

 

[ArlyA]

Just out of curiosity, how big and deep is the pond?

I'll try get and post a Google image of the pond n cabin when home. It was originally a dam, then it partially washed out, then beavers redammed it as it sits today. It needs materials put back in AND a overflow. We didn't really want a dam or dam repair project but it will increase its retail much when we sell it.

 

[ArlyA]

We told the realtor we might might make make another offer but are looking are looking at other properties that have shown up.

 

[ArlyA]

We got the word this morning that the other folks who seen the property had no interest.

 

[airbiscuit]

Too bad they don't have a compact tractor (or maybe their generator) they could throw in on the deal if you increase your bid.