Wholesale Land

[Joe Ortiz]

Hello all! I am in need of you expertise :)

Hello everyone! I am in need of your expertise. :)

I received a call from a guy off my absentee SFR campaign. He has a vacant lot that he wants to sell. I wasn't expecting this. What are some questions I can ask him to gather more info on it? I have looked it up in the county assessor and found out the size, and what it's worth. I asked him how much he wanted to get for it, but he came back with "well, why don't you make an offer and we can start from there." We are conversing via e-mail per that was his request.

Per county assessor:

Land Value: $32,930.00
Improvement Value: $0.00
Full Cash Value: $32,930.00
Assessed Full Cash Value: $5,269.00
Limited Value: $23,578.00
Assessed Limited Value: $3,772.00
Value Method: Market
Use Code: 0001
Property Use: VL-UNDET-URB-SUBDIVIDED
Class Code: Vacant
Assessment Ratio: 16.00%
Parcel Size: .26 Acres

The other lots around the area are all similar size and value.

Thanks!

Joe

[Account Closed]

The seller doesn't have any answers to the questions you need to ask. You need to comp vacant land, you need to make sure it's build able. You need to know if anyone is building. This is not info to gather from the seller.

That said, if it were me I wouldn't go any further until I got the seller to tell me what he is thinking in terms of price. When sellers won't talk price, I tell them that offers take my time and resources and that I only make purchase offers to sellers who are ready to sell. Are you ready to sell? Or are you looking for a property valuation? If so, I'm happy to recommend an agent.

Then there's the old "I could offer you $100 but I'm assuming the price is somewhere between that and $1M. Think we could narrow it own a little?"