Not for sale but conteplating all options...

[2bits]

So... I already have a plan to build a new camper with a shower so the thought has already crossed my mind although selling the LT seems impossible, with the right motivation I am thinking about it as a possible plan (and that does not mean money, read on).

Most of you know my 5 year plan to move my trailer (mobile home) out to some wooded land within a pretty specific area East of Dallas. Well, I took a trip out to see the unimproved land that I had my sights on and they bulldozed an easement through it! I mean I knew the easement was there, but it just looked so terrible. So I drove around just looking like I do and as I got to this one area that I always wish I could find some land in but knew it was all scooped up and apparently I never looked close because one of those little No Trespassing signs actually said For Sale By Owner! Well, I did not hold much faith that it would be in my size or price range, but it looked so awesome that I had to call the guy.

I called the guy right then, and he said it was 3.3 acres and he wanted $35k for it. That was the perfect size but was alot more than I was thinking about, but a big plus it is already improved. Septic, elec and water are already installed, which definitely adds to the value, and my time savings too and they did it like I want it, deep in the woods, not up front, and they only cleared out enough to get a mobile home in there (which is now gone). The trees are not young scrub like the other place either, these are huge old tall trees and it is up on a hill with some nice inclines and a creek on the property and still on the frontage road like I want it. The guy said it was ok to walk around and it was just incredible, it felt like I was at a state park or something. There is not one single drawback to this place that I can think of. The kicker is that he said he would owner finance too.

Now you see my motivation... this is the ultimate camping experience! The pressure is on to sell my old house which I owe WAY less than it is worth so I have some wiggle room unlike most people who are selling these days, but I need to have a contingency plan in place. I don't want to sell my Monte Carlo which as is before I finish it would only bring a couple grand at the most anyway.

Why am I posting all this? What is you guys opinion (Realistically) for what my teardrop could sell for? I am thinking $6k myself, and that is AFTER all the BS. That is what it will take me to get into it down payment-wise. Like I said, it's not for sale yet, but I am pondering all my options to better my life and I was planing on building a standy anyway, and my Mom is giving me her old PlaMor TTT to start with.

Soo thoughts? Here is some photos to sweeten the pot...

Driveway:


Clearing as you come up the drive:


Looking back at the street view:


Creek View:


Big trees:

[Wimperdink]

I'd be on that like white on rice. More teardrops can be built in the future but good land at the right price is becoming more and more difficult to get your hands on. I don't know your emotional attachment to your tear and that could make all the difference to you, but, if I was in your shoes, anything replaceable would be up for sale to make it happen.

I don't think your out of line on your asking price but feelings and emotions aside, just remember that any object is only worth what someone else is willing to pay for it. I would think 6k is a very fair starting point based on what I've seen of it in pictures.

[madjack]

...my first question would be what is around it...are there possibilities that there will be subdivisions/commercial develpment immediately up against the property in the foreseeable future...other than that, it looks almost too perfect..............
madjack

[2bits]

Yeah, this place is way out there. The next door neighbors last deeded their home in 1988 and the nearest two towns don't even have any newer subdivisions in them. This is not a popular area for suburban types unless they own a few acres so I don't see mankind as an issue. It is around the same kind of properties for about 10 miles in any direction, and those are the nearest towns. This is definitely "country" and all the residents bordering it are heavily wooded acreage that is really too hilly and backwoods to be subdivision material, even if it were a popular area, these lots around me would survive.

I know what you mean about "too" good tho. but I checked the tax rolls and he is asking the appraised value, so that is good, and I will check the flood plain but it doesn't look like it even with the creek.

[Nathan N]

Thomas,
It looks like home to me. Sounds like exactly what you have been yearning for and the stars appear to be aligned.

While I haven't seen your LT up close and in person from the photos and others description I think you have arrived at a good price.

Good luck.

Nathan

[CARS]

Another thing to check into is the septic. Yes it is there, but that doesn't mean that the codes haven't changed or it was poorly done (not to code) to start with. Have the water checked and maybe even verify with the electric company that it actually has the service that is advertised and that it is enough for you now and in the future.

My septic cost $7k 5 years ago. 2 days after I signed the deed on this place the county sent a letter saying I had 1 year to bring it up to current code (I knew that ahead of time).

Looks nice. Hope it works out for you!

[pete42]

Thomas

I was looking at a piece of property in the country and before I could tell the guy I wanted it he sold it.

DON'T WAIT......

pete

[PKCSPT]

If I found that type of property up here and we were contempating a move in the next few years I would sell anything not nailed down to get it.

[planovet]

That sure looks nice and the price sounds right. Where is this at? Maybe I could use some land

[kirkman]

If it is what you want go for it! You only live once!

[Woodbutcher]

If I understand what you were saying then this sounds perfect for you. Chris makes excellent points on verifying the utilities etc. If the owner will finance, what are his terms. With the property only 35 grand (he may take less) what are the monthly payments? Maybe you can swing if without selling all your stuff. If I understand right you will sell a house that has equity. You may be able to sell your car for the few monthly payments on the new place till the equity comes in on your house sale. If you have a good relationship with a bank or a family member see if you can borrow a bridge loan to cover the gap in selling your house. Make sure there is not a penalty for paying off the property owner sooner then his terms. Then get a conventional loan at the bank. Do not wait if this is what you want. Looks like a great spot! Good luck!

The opinions above are my own. I am not a lawyer but have seen many on TV.

[tkteardrop]

Thomas,
It is a good deal if the electric, water, septic all work and are up to code.
Have the water tested. The paved road and creek are a bonus also.
Check with the county building department for hidden fees and future bulding plans in the area by others.
Some counties hit you for all kind of fees when you make plans to live on a rural property.
If your nice to them they will tell you if there are future plans for a landfill across the road is already in place.
I've dealt with all of this before, but it was for a client and their money. This is your money
good luck
Tom

[JuneBug]

Be extremely cautious about owner financing. The guy might be a totally stand up person, or not.
Best finance through a local bank.
Piece of land looks lovely. Check on the mineral rights, as well.

[Catoosa Grani]

Thomas, sounds like you were meant to have this land. With the other one falling through and this one showing up, just what you wanted, it must be meant for you to have it. Good luck.

Grani

[Larwyn]

Sounds good to me, especially if it were not so close to Dallas........

If it is what you are looking for, go for it. Even if you run into a few negatives, try to keep them in perspective, they all should not qualify as "deal killers".

Good luck with your retirement plans, they make lots of sense to me...