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re: Been following a vacant lot near me and I'm a little skeptical about the price drops
Posted on 1/11/24 at 6:23 am to Powerman
Posted on 1/11/24 at 6:23 am to Powerman
quote:
In your experience what sort of questions should I be asking before I pursue this?
Basic things like underground ROW/utilities/pipelines that may limit development, surface rights, title search, etc. After that I wouldn't be overly worried about it. Likely someone who bought it years ago expecting to develop and never did. So now they're just trying to get off of it. $15k reduction in 3 months isn't that outlandish in this market, properties are getting stale and sellers are getting worried it may get worse.
Even at $67k I would go in much lower, knowing that they are showing desperate/flexible pricing.
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