Land Question

Thread starter #1

Rebel 3

Senior Member
I was just wondering what land would actually be worth in Hart County. I posted a question on here about buying some land from my grandmother in Hart County. I went and looked at the property today and it is all grown up. We thought it was about two acres, but it is only about 1/2 acre. It is listed as two lots. It has an old grown up trailor on it, electricity is run to it but is turned off, and it has a well. It is on a neighborhood street that goes down to the lake. It is about 1/4 mile from the water. She has been offered $10,000 and $12,000 for it. That seems alot to me for 1/2 acre. She wont sale it unless it is to me she said. She said she would sale it for a little less. What would you think would be fare? I was thinking $8,000, but that still seems high for 1/2 acre. I would probably be able to pay $100 a month or around that with no interest and the debt would end with her death. Unfortunatly she is in poor heatlh. Would $8000 seem reasonable? Any suggestions would be much appreciated.
 
Not sure but a drilled well wil cost you at least $3500, running poiewer would be a few hundred.

Is the street paved? Phone service?

It is probably worth it. Check the local MLS for comps.
 

Snakeman

Senior Member
Do you want to know the real answer, or do you want me to make you feel good?

Most (if not all) land in Hart County is waaaaay overpriced. Unimproved acreage (5 acres and more) sells for anywhere from $5,000 to $8,000 an acre. Small parcels of land sell for more per acre.

Factor in that the property in question is in a "neighborhood", has a well, I assume a septic system or sewer connection, and would be considered by the real estate folks as "Lake Access", it is probably worth twice what your Grandmother was offered for it.

If she'll sell it to you for $8,000, you ought to jump on it.

The Snakeman
 

Woodsong

Senior Member
tell me how much the surrounding homes in that neighborhood are selling for and I can tell you in 2 seconds what it is worth to a builder as a building lot.
 
It is well worth $8000. When you have a lot on a neighborhood street, you can not price it per acre but per lot. The cheapest I have seen any lot in Hart County is $10,000 with $15,000 being more typical.
 
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