Thread: Developer Wants To Purchase My Home...

Looks like big $$$ are coming. Lucky you... Negociation will be an easy game for you...Big bucks are coming...

It all depends on the number of lots they can put on the acreage that is behind you and the expected sales price of those lots.

Originally Posted by pjdro

MY HOME ISNT FOR SALE but i've been contacted by a realty company that wants to buy my home. My property is the only piece of land in the area that borders the hundreds of acres, just purchased behind my home [pretty wooded area, btw] I looked at land maps of the area with all the lots and subdivisions. Their means of egress relies on me. How should I go about negotiating? Is there any "formula" I should follow? I know some people must have experience with this please help! It's a weird situation.

If I were you, 1 million dollars will be a starting point.

Big bucks indeed...

Careful you don't price yourself out of the game.

Have the property professionally appraised. The addition value is future consideration. Wait for their offer with your appraisal in hand and compare the two.

If the purchase price is totally unrealistic, the builder/developer may very well find a different way to divide the land to find an alternate access point for egress.

I see many here that have held out for top dollar; only to see the developer build around you rendering you unneccessary.

Developers land bank for years if not decades until the market reaches their build sites.

I would probably get a realtor you trust that knows the market. You could get a lot. But in some cases its not worth it for them. Basically i would get someone on your side that understands your market.

I have seen owners in this situation demand too much for their property and the developers go ahead and develop right around them making their property worth less than it was worth before the whole thing started.

Hire an appraiser to analyse the situation for you. There is a limit to how much your property is worth to the developer before they have to create an alternative to your property.

I agree with austinki hire a local agent who knows your market to help you. Real Estate is a local business. Good luck it sounds like a great opportunity.