Always at the wrong time

Blaze

Blaze

The Jeeper Reaper
Joined
Aug 9, 2005
Location
Wake Forest, NC
My buddy who is going to help us sell our house and buy some land/build emailed me a piece of land this morning. Perfect location, almost 5 acres, right in our price range.

Right in our price range if our house was on the market.....

I'm about 2-3 months off from being ready to put it up for sale.

Who knows, it might still be available. I am exploring our options, maybe we can find a way to buy it in the meantime, but not really sure right now.
 
I know your pain man...I'm always the guy that just misses the deal. I'm about 12 months out from buying a house, and I can only imagine how the house market or mortgage rates are going to spike in the mean time...just to piss me off.
 
Maybe find some way to write up a contract and give them a deposit on the land? Like say $XXXX, enough to cover property taxes and a little more, and you agree to buy it for $XXXXX amount in 12 months or earlier. Gives them incentive to hold it for you, because if you don't come up with the money in time it is theirs to keep, but it could be risky for you if you aren't sure you could come up with the money.

I have sold a truck this way with a typed contract, I'm sure you could speak to a lawyer about what this would entail for a land purchase. Just an idea if it really is the perfect location etc.
 
If that one sells, another deal will come along. My wife and I just bought a lot to build on last fall. We spent about 1-2 years looking. Patience is the ticket.
 
UTfball68 said:
I know your pain man...I'm always the guy that just misses the deal. I'm about 12 months out from buying a house, and I can only imagine how the house market or mortgage rates are going to spike in the mean time...just to piss me off.
Click to expand...

I think you are safe. I don't believe rates are going to change much in 12 months.
 
I think we can swing it if we can find a way to come up with a down payment. My oldest son starts kindergarten this month so the money we save on daycare will cover the monthly payment on the land. The only problem is I don't think we have enough cash on hand for the downpayment.

I know something will come up if this one sells. We've been looking for the last two years, just keeping our eyes open, and this is by far the best one and the only one I have seriously considered buying in that time period.
 
Well maybe it isn't the wrong time.......my wife just got a raise at work today. She hasn't gotten a raise in years, they cut them out till the economy improved.

I just need to verify that I can keep my son in the same school and my other one can go to that school too when he is ready, that might be the deal breaker. It is in a different assignment district, but I've heard they can be grandfathered in. Really need to check that before anything.
 
Here's the land. It is about 585' x 350'.
Capture.jpg
 
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