Developer wants to purchase portion of my land
We were recently contacted by a real estate developer who desires to purchase a portion of our land(roughly 13'x210', all along the road). We have 2.25 acres. They need this land so they can add turn lanes to our road. They will be building a development across the street and they are required to add turn lanes due to the size. The development will be 170 units(combination of single family homes and townhomes). When they sat down with my wife and I to show us the plans, they said they were hoping to give us 10K for the piece of property.
I am hoping that someone has experience in this occuring and amount of money received. In discussions with our realtor and a friend who owns a development company, their offer is extremely low.