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Unread 08-03-2008, 12:11 AM
 
4 posts, read 16,246 times
Reputation: 10
Default Hardeman County TN

Hi,
I co-inherited 125 acres in Hardeman County, (city of Saulsbury) TN. She had it appraised in 2004 at $176,000.00. Now she is saying it was a 'high' appraisal and is really only worth $60,000.00. She wants to buy out some of all of my 1/2 of the land. I am of course going to have a new current appraisal done, but meanwhile, does anyone know what this land might be worth? I've been looking at other properties online listed nearby, and most are going for about $1,300.00 per acre. Does that make sense? I think it's mainly hunting land, used to have mature timber, but my late Father's wicked widow pillaged all of it some years back.
Any help is greatly appreciated!
Thank you!
D
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Unread 08-03-2008, 06:01 AM
 
232 posts, read 556,570 times
Reputation: 73
I am an avid hunter and my land that I hunt is in Saulsbury, right off Sain Road. The value of the land is variable; is there a house or other structures, how old is the timber--it may be worth a lot, is power and utilities available are there fields that would qualify for CRP, any farm value, hunting rights and so on.

I know the land (just the land and it will not support row-crops) is worth at least $1500.00 per acre, more like $2000.00, 1300 seems low.

Contact some of the realtors who have the listings you are looking at for an evaluation. Take the average to your sister and see if you can work out a compromise that works for you both.

For $60k, i'll write you a check today! Or tell her you will give her $75,000 for the land, see how her tune changes. Whatever lowball amount she gives you, offer it to her, you will see the price go up and up.--Seriously, you need an experience realtor. Try Banyan Tree or Richard Wallace.
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Unread 08-07-2008, 05:30 PM
 
4 posts, read 16,246 times
Reputation: 10
Default Thank you for your advice Bowyer! :)

Bowyer:

Thank you so so much for your reply - very intelligent, I think, great advice. We'll do. I am getting an appraisal this week - do you think that is a wise investment too?

Thanks!
Dot
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