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The Water Cooler
General Discussion
Anybody have time to answer some questions about rural acreage?
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<blockquote data-quote="turkeyrun" data-source="post: 3722316" data-attributes="member: 27991"><p>Title company</p><p></p><p>Mineral rights should be clearly expressed in the deed and in the sale.</p><p></p><p>Even if you don't have mineral rights (very few land sales do), you have trespass rights. They will have to pay for trespass and surface use.</p><p></p><p>No wells around, you most likely will never have any.</p><p></p><p>The undivided parcel can get messy, between those parties involved, not you.</p><p></p><p>Pot farm, etc; it is their property. You have no say.</p><p></p><p></p><p>I found 160 acres in wanted. The owner had passed and left it too his 4 kids. Not one wanted the land. The 2 older sons have a business in a neighboring county.</p><p>I made a cash offer of $125k. Divided 4 ways, ~$3+k each. They accepted the offer and contacted the other 2. The youngest son is the town drunk, destitute and was eager to sell. The sister lived in NYC, had not been "home" in 15 years, had no interest in the land, BUT!, she refused to sell.</p><p></p><p>The brothers forced her into court and Judge ruled "sale it public auction"</p><p></p><p>I bought the land at auction for $160k.</p><p></p><p>Talking to oldest of the brothers, a month later, he says, "I'm so sorry, you ended up paying more. After plane fares, hotels, lawyers, court costs, auction fees and realtor commission; my sister cleared less than $8 grand. We each got a little over $15k. That byotch is a f*****g genius!"</p><p></p><p></p><p></p><p>IF you want the undivided land, make an offer and have them talk to her kids. If they aren't interested in the land, but them cash; they can try to get her to sell.</p><p>Other than that, stay out of it.</p></blockquote><p></p>
[QUOTE="turkeyrun, post: 3722316, member: 27991"] Title company Mineral rights should be clearly expressed in the deed and in the sale. Even if you don't have mineral rights (very few land sales do), you have trespass rights. They will have to pay for trespass and surface use. No wells around, you most likely will never have any. The undivided parcel can get messy, between those parties involved, not you. Pot farm, etc; it is their property. You have no say. I found 160 acres in wanted. The owner had passed and left it too his 4 kids. Not one wanted the land. The 2 older sons have a business in a neighboring county. I made a cash offer of $125k. Divided 4 ways, ~$3+k each. They accepted the offer and contacted the other 2. The youngest son is the town drunk, destitute and was eager to sell. The sister lived in NYC, had not been "home" in 15 years, had no interest in the land, BUT!, she refused to sell. The brothers forced her into court and Judge ruled "sale it public auction" I bought the land at auction for $160k. Talking to oldest of the brothers, a month later, he says, "I'm so sorry, you ended up paying more. After plane fares, hotels, lawyers, court costs, auction fees and realtor commission; my sister cleared less than $8 grand. We each got a little over $15k. That byotch is a f*****g genius!" IF you want the undivided land, make an offer and have them talk to her kids. If they aren't interested in the land, but them cash; they can try to get her to sell. Other than that, stay out of it. [/QUOTE]
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