When a seller thinks their SFR is Commerical

[Ryan Dossey]

There's a local home that is very neat architecturally but in extreme dis repair. The property is actually on Indiana's list of endangered landmarks. It is a SFR that has been used as an office as well as home on and off over the last 50 years.

I got in touch with the seller who is an elderly Realtor down in FL. He ran out of money to fix or maintain the building so he's just let it fall apart. I called him to see if he would be interested in selling it? 

He is... But feels like it has commercial potential because it's on 2 acres. So he wants.... $750,000. I'm not sure if its dreaming or greed. If I had a dollar for every time a seller decided their property was "prime for development" I could pay his asking! 

[Thomas S.]

I never consider what a seller thinks when considering a purchase. The sellers opinion is worthless.

The property in question being on a state list of endangered species would be a definite turn off. I would never buy a property government has anything to do with.