Posted by Sailor on September 26, 2005 at 20:12:42:
He may be elderly, but not only are most farmers pretty canny when it comes to land value, but they like to hold onto their land. I’m in a rural area that is developing fast & farmers here only sell for top $$$–& even then they keep most of the frontage for family. If your farmer has property w/development potential, he’s already heard from other buyers.
Anyone have an idea as to what would be a ball-park figure in offering a cash buy-out price for raw land? It is in the path of development, farm acreage now, and developments are going in nearby. The seller doesn’t need to sell but is elderly. What is fair, 50%, 60% of going FMV for the area? Thanks.