Posted by dhermesc on December 30, 2016 at 08:44:05 from (24.248.193.103):
In Reply to: Re: Landsharks posted by CheeseHead Fred on December 30, 2016 at 06:47:54:
When you get an appraisal LOOK AT IT! They should have comparibles with addresses and dates of sale. Compare what you have to what they have listed. If your appraisal was written by Suzy housewife who knows how insert pictures on a Word document but no real experience in real estate you should know enough about what you have to correct or discard the value. For farmland you are selling it shouldn't take much.
The guy that owned the land across the road from me was a real moron. He had been asked by several neighbors over the years if he would sell it (I know I asked him two years ago) or if he ever decided to sell it give them a call. He lived in town and had inherited from his wife's family - rarely even looked at it. It was in CRP and the neighbors burned it every year for him along with theirs. He repeated the same line to everyone - I'm giving it to my kids. Last spring he walked into a real estate office to list it. He never even made it out the door. The realtor and her husband bought the land for about 1/3 the value. No neighbor even knew it was sold until the legal notice came out in the paper. He got $1500 an acre for land and he had to pay back the CRP payments. The land next to it sold for $1750 an acre in 2002 - land a half mile away from it sold for $4000 an acre earlier that year. The "licensed" realtor screwed him - but he allowed it.
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