Home Buying in Verona>Question Details

Jessica, Both Buyer and Seller in 53719

Is the price of land negotiable?

Asked by Jessica, 53719 Fri Mar 20, 2009

The lot we are looking at is priced at $100K. A comparable lot was listed at $125K and sold for $110 aprox 1 year after list. This lot has been on the market for 2 years. We'd like to spend around $80K.

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Answers

6
The ultimate selling price simply depends on the Seller's circumstances and ultimate motivation to sell. Offers often come in lower than the listing price and many do ultimately get accepted so yes the sales price is negotiable.
Web Reference: http://www.kbennett.com
1 vote Thank Flag Link Fri Mar 20, 2009
yes, lots are negotiable however Verona has a shortage and I am seeing more lots selling over listing price.
0 votes Thank Flag Link Mon Sep 23, 2013
Of course it's negotiable. That doesn't mean the seller will take 80k, but you don't know unless you try. We bought our lot for 13% below asking price. Give it a shot. Good luck.
0 votes Thank Flag Link Mon Sep 3, 2012
Research the seller. The seller has a burden, land he doesn't want to own, it costs him money to continue to own it. Some sellers will die owning that property, some will take what money they can get. If the seller is a pro, owns 20 lots, your low ball offer won't go far. If the seller is a guy with terminal cancer, owns 1 lot he bought as an investment, and wants to see his grandkids one more time before he dies, he's using the lots next to his as a guideline.
0 votes Thank Flag Link Wed Aug 29, 2012
Jessica,

Yes, everything is negotiable.....

As a buyer you stand to lose most by not trying to obtain the property for a price that is an accurate reflection of the current real estate market for your location.

Go for it. Good luck
0 votes Thank Flag Link Fri Mar 20, 2009
Anything in Real Estate is negotiable. Buying or Selling. To what degree depends on the motivation of the other party.
0 votes Thank Flag Link Fri Mar 20, 2009
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