Posted by ErnieDD on January 31, 2008 at 15:18:28 from (66.67.3.42):
In Reply to: update and more info posted by caleb on January 31, 2008 at 12:45:19:
Don't get hung up on the $1200. It is part of the due diligence on your part to establish its value to you.
Whats the barn worth, both in dollars and usefulness to you?
All things being equal, the #2 appears better. What will land improvements be worth, well, septic, foundation, electric, etc? How deep is your water table and will the soil perc for a septic and leach field.
Are you dealing with a sales agent? That person should be explaining the time value of money.
Time is on your side, explain to #1 you will be by next month with the deal worth $500 less.
I passed on a property, had made an offer less than they were lookin for, seller came back 2 months later with my original offer, which I refused. Found a nicer deal, that made me alot more money.
Second rule is not every deal has to go through.
First rule, don't fall in love with a deal; if you gotta have it, you will pay too much.
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