Selling Land

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Bow Only

Senior Member
I own 169 acres 3 miles from town and it has 1/2 mile of spring fed creek frontage. It's a prime property to retire on and has tons of game. I've been offered a good amount of money to sell it but I'm not sure if I want to. The pluses, even after capital gains, I can immediately pay my house off and will be completely debt free. The minuses, it's a dang good piece of property close to town.

I'd hate to lose such a turkey hunting paradise, but debt free sure is appealing now-a-days. What would you do?
 

PappyHoel

Senior Member
Keep it IMO. They stopped making land a long time ago. If the economy collapses like I think will, you will wish you had land.
 

merc123

Senior Member
Sell a few 10 acre blocks and keep the rest if you do it. If it's prime in general maybe try to get a commercial industry to buy some, like Dollar General or something. $3 million for an acre of land is really appealing.
 
Sell a few 10 acre blocks and keep the rest if you do it. If it's prime in general maybe try to get a commercial industry to buy some, like Dollar General or something. $3 million for an acre of land is really appealing.
Yep !! Thats what happen to my family !! They sold a pretty large chunk of land, a few years later....Wal-mart and Home Depot built on it !!
 

hiawassee1

Senior Member
If you had enough left over, after paying your debts, maybe you could find another piece of good hunting property and have it paid off also. Maybe not as big but everything would be paid off. Have your cake and eat it too.
 

cpowel10

Senior Member
I'd only sell land if I was in a bind. I'd keep working on paying off debt and keep the land. When you retire sell your current home, build a small house on your 169 acres and bank the difference.
 

merc123

Senior Member
Yep !! Thats what happen to my family !! They sold a pretty large chunk of land, a few years later....Wal-mart and Home Depot built on it !!
Wanna sponsor a race car :biggrin2:

That's what I guy I know did in. He had (and still has) tons of land. Sold several tracts to various Dollar stores and chain markets.

Let's put it this way. He is a business owner. All of the money they make from the business goes towards racing. They could close the doors and not work ever again.
 

Kawaliga

Gone but not forgotten
I would keep it if at all possible. If you sell it, you will regret it later. With the direction this country is going, anyone with land like yours will be able to feed themselves if they are willing to work at it.
 
I'd plan on holding it and tell the buyer what I thought was a very high amount for the land and see if they will bring their offer up (like 1.5-2x the amount they initially offered). There's nothing to lose in seeing how much they will pay. I assume it's an agent for a larger corporation/investment firm and they will pay much more than the average investor for what they think is a prime location in the future. I'd sell if the price was right.
 

merc123

Senior Member
I'd plan on holding it and tell the buyer what I thought was a very high amount for the land and see if they will bring their offer up (like 1.5-2x the amount they initially offered). There's nothing to lose in seeing how much they will pay. I assume it's an agent for a larger corporation/investment firm and they will pay much more than the average investor for what they think is a prime location in the future. I'd sell if the price was right.
Sometimes this backfires. Happened with a friend of mine. He asked a guy a price on something. The guy priced it way over "market" value (not AR15). He told him to load it up. Guy never though he would take it for that price, but it was worth it to my friend. Just make sure when you do this that you will really take that price and not just throw out some arbitrary large number.
 

Sargent

Senior Member
Land is scarce.

Right now, we're in a lull in real estate. Land is not at it's maximum value.

If you need the money, do it (as long as you get an independent appraisal to make sure the offer is at or slightly above market value).

If you don't need the money, I would wait. Eventually, the crap will be cleaned out of the real estate market and the value will rise.
 
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