Land Locked Woods Value

[dave1949]

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's still true in Maine. The owner of a land-locked parcel can exercise their legal right to access it by crossing through adjoining properties.

 

[tractchores]

I would reach out to the owner first and ask if they may have any interest. Then see what they say about a price. Assuming they want to sell it's a pretty standard 'positional' negotiation as there's really only a single likely buyer and the land has no value if there isn't an easement or some other legal way to access it by someone. The value in this case is truly what you can pay and what they will accept. Regarding financing you can make it financable by buying it because then it is no longer land locked, you can even go as far as to grant yourself an easement to the property, so it's now just a standard 'land' sale VS a landlocked parcel. When dealing with things in probate it may be difficult to get a decision or to close on a property as it may need to go through probate court for settlement, but if you're patient and everyone is onboard it should be fine.

 

[kenmac]

I don't know about other states,but here you can't be land locked. Some has to sell or grant you easement across their property. I sold a 15' X 100' easement to someone that bought property behing mine

 

[CliffordK]

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.

I agree. Talk to the person, and see what they feel like. How much they are asking.

Personally I think one should seek deals that make everyone happy.

$50K would be a great deal for 100 acres, just about anywhere.
$100K would also be quite reasonable.

Anyway, if they ask you to make an offer, suggest $50K.
If they give you a price, then jump on anything below $100K.

 

[Carl_NH]

I agree. $50K would be a great deal for 100 acres, just about anywhere.
$100K would also be quite reasonable.

.

Clifford,

I would agree with your position in most areas of the country, however this is rough terrain (think 15-25% slope) that has been stripped of coal, that has been poorly or moderately reforested and in the local area it has a low valuation except for long term logging or mineral rights potential.

The current owner living or deceased, may have passed on a gem (for mineral rights but exploration and new sites is tailing way off now) or a tax burden to the family while having reaped the benefits of the coal stripping and the land has no more value to give for development or other functional use based on the area demographics.

 

[sixdogs]

Over the years I have dealt with a number of heirs and nearly 100% wanted to liquidate whatever it was they inherited and do it at overnight speed. Old Uncle Bob may have valued it dearly but the family-kids-dear friends see dollar signs and a new car or a cruise to nowhere. Just my two cents.