Real estate General topic

[Fuddyduddy1952]

Maybe someone will find my ongoing real estate sale story interesting.
In 1940 my Grandfather bought a 30 acre place from a fellow who had 2500 acres, the fellow lived in a small cabin, no electricity or plumbing...an original land grant from George II. Grandfather had nice home built, Mother met/married Dad 1948. Dad & Grandad built home I grew up in there, Mom passed in it in November at 98. I'm the beneficiary.
The place borders a major highway & secondary road & I knew it was valuable. I recently sold all contents mainly fear of a break-in...I don't need the money.
I had three appraisals. What's unusual is in the front section is a tractor dealership & new owner has really fixed it up nice. I approached him about buying the property & now become friends. He's very anxious to buy and already fixing the place up before purchase.
I'll owner finance for 5 years with interest, he's making a good down-payment. Although my brother was written out of the will I've decided to pay his house off.
At 74, what am I going to do, buy a yacht or jet?

 

[ultrarunner]

My cousin’s family sold a small farm parcel fronting a highway cloverleaf and difficult to access from the main farm.

The Buyer built a VW, Audi, Porsche dealership…

Cousins in-laws farmed for generations and still do…

The patriarch of the family agreed to sign off on the deal with one condition… they could buy 2 cars at cost… and the deal was made… the granddaughters each got new VW at a fantastic price and over the years have all become friends…

 

[paulsharvey]

Its all available to the public, if they request it, so not a trade secret. Meet with some folks looking a very early conceptual plans for a housing development that will, by its self, increase my counties population by 3.5% today. Probably a couple years out from starting, and might get scaled down; but ive got another one that will increase population by about 2%, starting in the next couple months.

 

[paulsharvey]

Not sure where to drop this; but here seems as good as any.

Starting July 1, a Florida bill (approved and signed), exempts single family home improvements valued at less than $7,500 from requiring permits or inspections. OK, im 90% in favor (although that 10% isnt against, its just the consequences of that), but it also says, structural, plumbing, gas, electrical, and mechanical permits will still be needed, regardless of value.

Im sure there are some, but im trying to think of anything other then structural, plumbing, gas, electric, and plumbing that needs a permit? Insulation i guess. Exterior doors/windows are structural. Im assuming roof would qualify as structural.

I will admit, I dislike the idea of getting a permit for piddly stuff in my own house. On flip side, I see the quality of work many contractors do, even when they are permitted; so think of the quality knowing noone will look. Im largely thinking the "flippers" and "handyman" stuff.

Edit: maybe landscaping, fence, gutters (dont know if gutters require a permit), landscaping permits arent residential anyways,

 

[rustycloe]

So, been two or three recent threads about specific real estate topics; poor quality online pictures, poor descriptions, I started one about aerial layout maps, ect; so I figured I'd just start a generic real estate thread, focused on rural properties.

So, I'll go first; me and wife are doing a viewing tomorrow, 13ish acres, 5/2 double wide, dirt road, about 15 minutes from 2 stop light Town. We saw it, look at it on ad, Google, basemap, and property appraiser, and then do a drive by, just to check the area. It's a Ssstretch financially, but we qualify for the loan. Wife initially said, yeah, we can afford that payment; but with 48 hrs of time to think, she starts second guessing the fiance of it. We talk, and we will do showing; but in my estimation; and talk with her;
property: if it didn't have the house, and was anything above $150k, I wouldn't even look at it
home: if it was anything above $200k I wouldn't even look at it
the package is $420k. We already have the viewing scheduled, and we will go, but wife basically said, if we Love it, tell them the truth, $150 for the land, $200 for the home, that's max of $350k; and not whiling to go above that.

Couple notes; it was late on Thursday, and I decided to enter info in a popular online mortgage originator; they actually called at almost 9pm. Next day, holy crap, the random phone calls and text messages, from them, their preferred realtor, other competitive companies. I even mentioned it to Patti Irwin who wasn't surprised at all. It was probably 15 calls, and 20 texts on Friday.


I was honest with real estate lady; told her it was at or right above our max; and that it would have to be perfect to put in a real offer, and I didn't want to waste her time. She was OK with that, and set up viewing anyways.

Go to the viewing, stay at $350k max no matter what. If you love it, make the offer honestly and let them counter. Don't let the emotion of the moment stretch your budget, that's how people end up financially stressed for years. On the mortgage site, never use those aggregators again. They sell your info instantly. Go direct to a lender next time.

 

[paulsharvey]

Go to the viewing, stay at $350k max no matter what. If you love it, make the offer honestly and let them counter. Don't let the emotion of the moment stretch your budget, that's how people end up financially stressed for years. On the mortgage site, never use those aggregators again. They sell your info instantly. Go direct to a lender next time.

We didnt end up buying that one, and it worked out, eventually. Got a better place, IMO, for about the same money.