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Updated about 8 years ago on . Most recent reply

Account Closed
  • Avondale, AZ
1
Votes |
10
Posts

I Think Some Commercial RE Investors Are Trying To Scare Us

Account Closed
  • Avondale, AZ
Posted

So we bought agriculture land around 1990, around 2007 the surrounding lots and land around us have been bought for use for commercial properties, but couldn't buy our house/land for the price they wanted (they actually went to the state regarding this; the state panel said that we had the right to our land, and have the right to sell it at our price, knowing that the developers would convert it to commercial and thus our price was reasonable).

The state also actually used eminent domain to pave way for the main street right off a major highway and they took about 1/10 of our property.

Ok. Now it's 2017 and the commercial investors are trying to purchase our land (where we live).

They are saying that if they can't buy our land, they said eminent domain might (at this point I think they are trying to scare us; it was funny too because she was explaining to us that eminent domain would buy our land and convert it to something for the "public" like (and i quote) "a restaurant" lmao. Restaurants are commercial property...), or that they will just build a wall around our property and finish converting and developing the land around us into commercial entities.
We said we were fine with them building around us (with the bet that we will be bought out at our price eventually (possibly even higher due to the fact that pretty much everything around us will be commercial property and generating revenue (restaurants/mall/stores/etc...))).

Now I'm asking, if you were in our shoes, what would your game plan be? We struck gold without realizing it back in the 90s, and we don't want to be low-balled, and it seems like they think we're naive.

What do you think? Thanks!

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