All Forum Posts by: Robert Dobbs

What about a simple lease, with an "option-to-purchase" ???

1. A nine month, "non-renewable" lease at $1,000 per month?

2. Clause, allowing your "tenant-buyer" to pay for, "pull-permit" to install a well, that must be competed within 6-months, during the tenant-buyer's nine month lease with purchase option.

3. Option to purchase the land for $149,900 on or before the "nine month lease period" ends.

4. $1,000 per month lease payments will be deducted from the "tenant-buyer's" $149,900 agreed "option to purchase" price. (Example: The tenant-buyer made six $1,000 monthly payments and has obtained financing and will complete the "option to purchase" at $149,900 minus $6,000.00, then with a balance to close of $143,900.)

4. Buyer agrees to lose all access to said land, and  if not purchased and paid in full before the end of the short term, "9-month, non-renewable lease period". 

5. I'm confident a real estate attorney should be able to "write-up" this agreement for $500 to $1000, and maybe even less if you agree to let said real estate attorney to do the possible upcoming closing", from the said "option to purchase".

6. Keep this simple. If this potential "tenant-buyer" does sign this "lease w option" deal with you, this said tenant-buyer has confidence she will be able to obtain financing once the well is installed.

7. Give the "tenant-buyer" some advise to spend a few months to look for another financing source that may allow the "tenant-buyer" to finance said land without a well, or maybe another lender will finance the land and finance the well installation too! Who knows? This "tenant-buyer" may just find a "better financing deal", because this tenant-buyer will have more time to search and discover better financing.

Mr. Miller, ...good luck to you!

Hi Tanuj! Prices vary from "state to state", and "county to county". If this parcel is not "up for sale" or development, ...and it is being "salted-away" as an investment, ...many times, it is better to leave the "brush, trees, etc." in it's "natural state".

Exceptions are "code enforcement issues" (I.e., overgrown areas that need to be cleared, order by your local code enforcement). 

By keeping a vacant lot with it's original "brush and trees, etc.", just may prevent erosion, and may prevent fast growing invasive plants, that "take the place" of the original brush, trees, etc. that's on your parcel. 

Hopefully Tanuj, someone here on BP, will have you the name of a local vendor, that clears lots. If not, try Google! LOL!

If you are selling, "do the math" and see if you can command a "higher price" if your clear "excess brush, trees, etc.".

Tanuj, ...good luck to you! Sincerely, Bob

Amber C.,... over the years, I've been told many, many times, "...Mr Dobbs, I can't believe they accepted your offer!". Life events happen all the time! 

George W. made a good point that this seller may be "sticking to their guns" about their selling price...

But let's look at this deal being, "...this glass is half empty, not full"! 

Over 500 days on the market is a long time, telling me that this parcel is most likely very "over-priced"! Combine the "over 500 days on the market", with who knows what "life events" may have taken place in 500 days (I.e., job loss, relocation, divorce, separation, sickness, death, financial issues, legal issues, tax issues, covid issues, the economy ...to name a few!).

Many times, listed properties, are priced "well above market value", and it may take some time (like over 500 days! LOL!) for a Seller to realize that their "listing price" is way too high!

Amber, keep trying! And good fortune to you! Bob

Hi Amber! "Make some waves" by "making an offer" like $112,500.00 with a hefty "escrow deposit" of $25,000.00, payable to the title agent, ...showing this Seller that "you mean business" with this "hefty good faith escrow deposit"!

"500 days on the market"? This Seller just may be motivated enough to sell at a "much lower price"!

If the Seller "counters" your offer at a much higher price, "come-back" with an offer like $116,900.00. This way, you may be able see just how motivated this Seller is.

If the Seller "comes-back" with another high "counter-offer", try something like $121,500.00.

Keep "working the Seller" until the Seller stops "countering your offers". Then make your "highest and best" offer ------------> letting the Seller know this is your FINAL OFFER!!!

Amber, ...I hope my "long-winded" negotiation tactic example really works for you! 

Sincerely, Bob

Try to offer this parcel to one of the adjoining land owners at "below wholesale" pricing !!! 

"One man's rhinestone, just might be another man's diamond?" LOL!!!

Good luck!

Like @Linda Hastings said, many counties wait until "development begins" before an official street address (I.e., what many investors call a "911 address") is issued. 

Lisa, I understand that not having a physical address "may project remoteness" and on the surface, may "tarnish a perceived land value". But many times, this is NOT the case.

Good luck to you Lisa, and keep "picking the brains" of seasoned pros on this great Site and maybe try "linking-up" with other real estate investors in your area (via by Meetups or by joining local real estate investor club (REIA meetings). ----> Sincerely Bob

Many times, "homestead exemption laws", may save a homeowner some tax money by NOT "splitting-off" an adjoining vacant parcel.

Also, the "homestead exemption", allows most homeowner's insurance policies to cover "as one parcel".

In addition, there are favorable "liability issues" by having all undivided parcels included in a "homestead exemption".

Just saying ----------------> "some food for thought"! LOL!!!

Here's a list of a few appraisers that will work in Seminole County. A good place to start! Good luck to you! Bob

The are folks from every state in the country, ...in fact, just about every country on the planet, that want to own "a piece of Florida!

There are thousands of "plated vacant parcels" scattered in many Florida Counties that are available for under 5K.

..."Just sayin'!" !!!

The are folks from every state in the country, ...in fact, just about every country on the planet, that what to own "a piece of Florida!

There are thousands of "plated vacant parcels" scattered in many Florida Counties that are available for under 5K.

..."Just sayin'!" !!!