Biloxi D'Iberville 33acres Commercial Land for sale with Owner Financing- Need buyer/partners

[Jacob Michaels]

I've got a purchase contract that I'm using to help market 33.09 acres rectangular block of raw commercial land on the I10W, near I10 & I110 intersection. Looking for potential buyers.

Seller is asking $15mil, and willing to finance with 10% down & 5.4% interest.

If anybody can help me market the property successfully I will make it worth your while.

jacob (at) exceptionaldigs.com

[Karen Margrave]

@Jacob Michaels Right now your sellers are pulling numbers out of thin air. They have no clue, nor do you, if 9 million is high or low; and you need to find out. If you aren't familiar with the area, and know nothing about land values, you need to get an actual appraisal done on the property. That's great your sellers came down that much, however; you may have just cost them a ton of money, based on what?

I'm sure there are areas in Texas that are much the same as here in California where that much commercial land could easily be worth $15 million. Then there's other areas where it could be worth $1 million or less, you need to find out.

If you're marketing property to a developer, you have to be able to answer their basic questions. The marketability and success of any future project depends on many factors, such as the population of the area, what else is in the area, is it a new area or an established area, what is the economy like, what is there a demand for? If there's no demand for other commercial ventures in the area, the land has little value.

What is it going to cost a developer to get the property to the point of being able to build (zoning, utilities, curb, gutter, sidewalk, and other conditions, etc.) What is the local planning and building depts. like to work with, do things go through fast, or at a snails pace? All of these things matter.

You are way ahead of yourself. Get the sellers to get an appraisal. In the future, before setting a price on property, do your homework, otherwise you make yourself look bad. Good luck