If it's been listed a while and hasn't sold, you might try a real low ball offer first.

Draw deed, "signing", doc prep, demand fees....they have line items for things that used to part of the "escrow fee".I have a family member selling land here in Santa Barbara.

One thing that helped me get the ball rolling was to set clear, specific, measurable goals.

Land use (mixed commercial/residential) - ARV. 125k to 132k - home built 1910 (2 story bungalo style, split level) Can someone explain to me a transactional funding?

Of course, without the ARV and repair cost it's hard to say...What's the land worth?

Has land / lots to add additional 8 units.

It's unreasonable for the city to expect you to grow more land to accommodate a parking ordinance instituted after the building was built and was not in place at the time the occupancy permits were granted.One thing you may consider, if there's room, is to make the parking spaces smaller, if need be.

let me know if I screwed up anywhere or you wanna chat more on this.But my personal view: I'd pass or low-ball them something around the $150k mark.

I can't use the income approach, its a small town with maybe 3 restaurants or so, comps are nonexistent (I think) and its been vacant for a few years now.According to the assessor the land and building value is $50,500 (I'm using that as a ball park number) although the current owner did pay 300,000 for it previously.

There is no mortgage against the property, and the property is owned by a land trust.