Tax benefits of taking a loss

[Melissa Nault]

Hoping you can help me. An investor (LLC - three members) bought some farmland behind us for twice the value of the surrounding land. No structures are located on the property - just "abandoned farmland" according to all tax records. Development plans fell through, and they are now considering parceling and selling. We would like to buy a portion of the property, but obviously not at their purchase price. Is there a tax advantage / incentive for them to take a loss?

Thanks for the input-