Toymaker
Farm Hand
- Messages
- 76
What do you do - its simple, you either pay up or play the long game.
If you pay today - its over. You own it - they get cash, its done.
If you refuse, unless there is a gold mine in that 8 acres - know there market for buyers is lilely limited - especially if its crop land or woods. Too small for most buyers needs. Not many buyers want "odd lots" around me. They sit and either dont move - or go ridicoulsly low on a per acre basis.
I feel for you, dealing with a family member who continues to take advantage of me on a parcel...and who owns an adjacent tract. Id love to just tell them either buy me out (knowing they cant) or let me buy you out...but they would ask the moon for it.
Appraisals mean NOTHING when it comes to sentiment...and I have rarely seen someone attached just agree to an appraiser you would pick. Best way if they are all agreeable to this route - you each pick YOUR appraiser (at your cost) and then have the 2 pick an umpire (split cost) in case they cannot agree on a price. Its the best case for you - but a long shot that someone being disagreeable would accept in my opin. Get the ump appointment BEFORE exchanging figures to...and get it in writing. If you have a deal that says you have right to purchase upon agreement of any 2 appraisers - you basically limit the market by giving yourself first crack at the property at a price 2 appraisers agreed on. No buyer would step in if they knew the seller had to clear you before selling to them.
If you pay today - its over. You own it - they get cash, its done.
If you refuse, unless there is a gold mine in that 8 acres - know there market for buyers is lilely limited - especially if its crop land or woods. Too small for most buyers needs. Not many buyers want "odd lots" around me. They sit and either dont move - or go ridicoulsly low on a per acre basis.
I feel for you, dealing with a family member who continues to take advantage of me on a parcel...and who owns an adjacent tract. Id love to just tell them either buy me out (knowing they cant) or let me buy you out...but they would ask the moon for it.
Appraisals mean NOTHING when it comes to sentiment...and I have rarely seen someone attached just agree to an appraiser you would pick. Best way if they are all agreeable to this route - you each pick YOUR appraiser (at your cost) and then have the 2 pick an umpire (split cost) in case they cannot agree on a price. Its the best case for you - but a long shot that someone being disagreeable would accept in my opin. Get the ump appointment BEFORE exchanging figures to...and get it in writing. If you have a deal that says you have right to purchase upon agreement of any 2 appraisers - you basically limit the market by giving yourself first crack at the property at a price 2 appraisers agreed on. No buyer would step in if they knew the seller had to clear you before selling to them.