Hi there
Both times I have purchased land, the owners would not accept an offer. The asking price was THE selling price. Most sellers of a developed property will accept offers but lvacant holders seem far more reluctant to do so. Has anyone in here been successful in offering a lesser amount? What have your experiences been like with this type of purchase?
Thanks
I am guessing that is a resounding no?
I've never bought land alone, but in this market it can't hurt to make an offer, they can only say No
I have purchased a DA site previously, however was able to find numerous 'issues' during the due diligence in a slowing market coupled with the vendor's need to offload the property – needless to say I purchased at less than the vendor's purchase price (peak) not including the $30K consultant fees for the DA
When the land owner hasn’t accept a lower price we’ve found that we’ve been able to negotiate much better terms.
Sometimes the terms can be much more attractive than the actual asking price.
Also you may want to consider a joint venture with the land owner if he won’t budge on the price.
Adrian and Amber
http://www.RealEstateDevelopmentClub.comThanks for your comments everyone.
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