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Discussion Boards > Active Subjects > Messages as Posted > Buying Ranch Farm Acreage Forum

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 11-28-2002, 07:16 Post: 45493
chris82715



Join Date: Feb 2002
Location: Four Corners, WY
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 Any Ideas?

We (as in my lovely Wife & I) have found the perfect ranch that we want to retire to,(sort of, from the mad rush of things anyway) and we are starting to look at some other options and wanting ideas. The deal is we have a nice home and 15 acres of ag zoned property in the foothills west of Denver worth M/L $800,000 as appraised, and we owe $250,000 on it. The property is divided into two parcels with the house & 4 acres + 11 acres a separate building site. We have a contract on the ranch for $370,000 contingent on the sale of our place, but we have had a lot of showings and no buyers. We cannot afford an increase in payments to but the ranch, but we have been searching for 3 years for what we want and the contract expires soon. does ANYBODY have any ideas!!!!!






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 11-28-2002, 08:12 Post: 45499
TomG

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Location: Upper Ottawa Valley
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 Any Ideas?

It's sort of a tough question to provide any sort of help with. In general appraised values aren't the same thing as market valves, and asking prices for quick sales are less than ones where time isn't important. Reduced asking prices often make for quicker sales and in a seller's market might also generate excitement and produce a bidding war that ends up exceeding the asking price.

Of course a reduced asking price might also produce a reduced sale price and a minimum that would be viable in terms of overall financing and living expenses would be a complicated question. A good real estate agent should be able to crunch numbers to see how much room in deal making there is. That's should be expected as a part of earning their commissions. Our agent actually earned us money over and above his commission when we moved from the city. There are a bunch of financing schemes that are sometimes used to help span cash flow problems and a good agent would know of them. However, such schemes always have risks and I'm not sure I'd want to go for one as we're on mostly fixed retirement incomes.






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 11-28-2002, 08:49 Post: 45503
chris82715



Join Date: Feb 2002
Location: Four Corners, WY
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 Any Ideas?

Tom, Our realtor thinks this a very fair asking price, although our ad say motivated seller, bring offer! let me know.

CT






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Discussion Boards > Active Subjects > Messages as Posted > Buying Ranch Farm Acreage Forum

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