Unsolicited Property Offers (rent, attorney, house)

[Corgi Dad]

My wife and I own some farmland in Eastern NC that we rent to a local farmer. Over the past couple of years, we have been receiving offers from land companies to purchase the property. The offers come almost monthly and the offered prices range from ridiculously low to nearly reasonable. We might sell it for the right price but haven't yet.

All offers state they they (the buyers) will do all the paperwork and pay all closing costs. So far, we've just ignored the offers and shredded them. Are these companies legit?

[MikeJaquish]

Generally, yes, they are legit.

Of course they will provide a contract and pay closing costs. That is all baked into the offer they give you. And, paying you cash, closing costs would be minimal.
I would ignore the amount of the offer, tell them "the right price," i.e., what it would take to get the deal done; tell them to send me a written offer ready for signature; and IF they did write an offer that seemed reasonable, would run it past an attorney for review and opinion.

[CalypsoNotch]

Don't sell your land to China.

List it yourself for the right price if you want to sell it

[wizard-xyzzy]

Note the difference between an "offer" in the mail and an offer that is actionable in a legal sense, as MikeJaquish has commented. Things can and do change from one to the other.

As for China, it's to our advantage for them to own property here. The more they own, the more leverage we have.

[goldenage1]

Originally Posted by Corgi Dad

My wife and I own some farmland in Eastern NC that we rent to a local farmer. .........Are these companies legit?

They may know of a buyer that will pay more to turn the land into a wind farm. They may also know their is phosphate or another mineral under the land which they can sell to a drywall manufacturer. (My relative had offers on a farmhouse in Wayne County in this situation.) You might look for an appraiser who knows about such things.

[Starglow]

I get calls all the time from people wanting to buy my house. I politely say I'm not interested and hang up, but then their number immediately goes to my blocked list.

[inner_outer_440]

I always respond with a number 5x what my house is worth and I never hear from them again

[DeepImpact]

Tell them it's a $50,000 non-refundable deposit to begin the conversation. If you don't like what you hear, you get to keep the deposit.

[Myghost]

Originally Posted by inner_outer_440

I always respond with a number 5x what my house is worth and I never hear from them again

Originally Posted by DeepImpact

Tell them it's a $50,000 non-refundable deposit to begin the conversation. If you don't like what you hear, you get to keep the deposit.

Since OP is saying they might "consider" selling, I think a more reasonable approach would be to OP's benefit.

Maybe decide on their own what is an acceptable amount. "If someone offered me $xxxx free and clear, I would accept". Whatever that number is, maybe add a little bit (10-20%?) for room to negotiate, but keep it in the realm of reasonable. Asking for 5x it's worth is not going to get a serious response, if that's what OP wants.


If OP is not interested, the best action is "no response, just block or ignore".

[MikeJaquish]

Originally Posted by Myghost

Since OP is saying they might "consider" selling, I think a more reasonable approach would be to OP's benefit.

Maybe decide on their own what is an acceptable amount. "If someone offered me $xxxx free and clear, I would accept". Whatever that number is, maybe add a little bit (10-20%?) for room to negotiate, but keep it in the realm of reasonable. Asking for 5x it's worth is not going to get a serious response, if that's what OP wants.


If OP is not interested, the best action is "no response, just block or ignore".

Exactly. Always give the other party the opportunity to say, "Yes."

I have a "Make Me Move" counter to these casual offers. It is about 130% of what I see as market value, with some additional terms.
I am not highly motivated, but at that, no arm-twisting would be required.
Of course, unlike the OP, I would need to replace my home with another.

LOL
The last mope who called was bound to overcome all obstacles. He ignored my multiple replies of, "I am not really interested in selling right now. But for $X and good terms, I might consider it."

Him: "Isn't your asking price high?"
Me: "I don't have an "asking price." I'm not "asking" to sell. That's about what it would take to get the property."
Him: "Isn't it over market value?"
Me: "Like I said, I am not eager to sell, but if you are motivated to buy, that's about where we are."
Him: "I think you're just wasting my time."
Me: "Look, man, I didn't call YOU."
Click. He hung up! That rube will never make it in a business that requires basic negotiation skills.