Will it sell quick? Or if not can I just donate it to the city??

**landmanran** · 09-11-2011, 05:55 AM

Hi ya'll.
Hey this property is like 18 acres. It has MULTIPLE city code and ENVIROMENTAL issues. AND half of it is in the flood plain. I can get it for like, 2 cents on the doller....which is like a quarter of a years pay to me. But the city and the state want the issues fixed. I can get the issues fixed...but for some wierd reason I cannot, is it possible to sell quickly? Personally, I don't think it will sell. It has been on the market for 5 years now. Nobody wants it because of the issues and the work invovled. Granted all this would cost money to "fix" the property issues. But that price (for materials and labor,permits,ect) would STILL be WAY below the market value of the place. So if for some crazy reason I run into some problems and decide I can't fix it (which, at this time I think I can), Is there a way to dump it on the market at cost value so I can at least get my pennys back? And if not...more so, is there a way to force donate it to the city? Inquiring minds with average intelligence want to know.

**minnesota-mls** · 09-11-2011, 05:22 PM

I have seen similar properties to this here in Minnesota for sale on our MLS system. It definitely sounds like there has not been alot of interest at the current price.

But no doubt everything seems to sell at the right price.

You would think after five years the listing would be at or near the actual market value.

Personally, I don't think I would go for this type of listing. No one is buying it now. Hard to believe anyone will want to buy it when I own it.

Our real estate team does work with a number of buyers who look to buy and then rehab the MN property however.

**landmanran** · 09-11-2011, 05:51 PM

Well.....it was hard to decifor whether you were refering to my property I want to buy...or some property you own, or are buying, or thinking about buying. Anyway... You said,"You would think after five years the listing would be at or near the actual market value". end quote. Well, I did say pennies didn't I?

This is the portion I need an answer to....
"So if for some crazy reason I run into some problems and decide I can't fix it (which, at this time I think I can), Is there a way to dump it on the market at cost value so I can at least get my pennys back? And if not...more so, is there a way to force donate it to the city? Inquiring minds with average intelligence want to know."

Anybody got a clue?

**J&E** · 09-11-2011, 07:17 PM

Market Value is what someone is willing to pay for it in this market. It seems like the land is not usable and therefore no one is willing to pay for the land. It’s been on the market for 5 years, that’s saying something. All in all, everything has its price. If you can go cheaper go cheaper.

**Greg** · 09-12-2011, 06:06 AM

It hasn't sold in 5 years so far, how could you sell it quickly?

Plus, if you discover you can not fix the problems you will have to disclose that to the new buyer. If you don't disclose it to the new buyer and they find out from the city that you did know about the unfix-able problems you can expect a lawsuit from the buyer.

There is no way anybody on this forum will know what the city will say when you try to donate it.