All Forum Posts by: Rick Lee

Hello Noel, I can do a quick study on the market in the area if you like and let you know my recommendations. Please PM me the address and other details that might help me with the valuation such as utilities available, easements ect. 

Hello Maryam, I live in St Petersburg and have experience with residential and hotel developments and open to joint ventures with land owners. Give me a call so we can discuss more. 

727-831-7109 

My biggest return on investments that I have ever made has been from land. You just need to do your homework and know your market, add-value and sub-divide the lots. I would be happy to share some of my strategies at NO COST to those that are interested in connecting. 

Hello, I am new to this forum, but have been involved with real estate for 25 years. My team and I purchase raw land, entitle, add-value, and subdivide lots for residential projects to resell to national home builders or other developers. 

When I make an offer to purchase raw land, sometimes it can be very difficult for me to give a fixed purchase price until we complete our due diligence on the property. We also rely on our own experience, market data comps and appraisals to determine the fair market value. 

In your case, if the seller is not willing to sell it to you at the appraised value, then you should first express to the agent that you are willing to walk away on from the deal if there is a deadlock on the fair market value price. Once they realize that you are firm and willing to walk away, then you control the deal by giving the buyer the opportunity for them to purchase their own appraisal. 

Below I have included a few clauses that we use in our contracts, should you decided to continue your negotiations with the seller. 

"The Fair Market Value can be determined on the basis of the average of the two appraisals.
In all cases, each appraiser selected by a party, must be an “MAI” qualified and licensed appraiser or must otherwise be a member in good standing of the local AIREA, and must not be affiliated with either party. Each party will pay the cost of its own appraiser."

Hope this helps. Keep learning the art of negotiating deals and you will do well.