Originally Posted by
Gilroy
I got a little tale to tell you guys as its kinda related to the topic at hand.
I see this property yesterday five minutes away from Lindsay for sale . Thirty acres with ten being a hay field and twenty acres of bush.
There was no price on it but I was curious because it was a 519 number, so I, am thinking its around Lindsay. Phone the number and its answered right away by an American down in New York. So I basically just ask outright what are you asking for it.
So the guy tells me $77,000.00 so right away I am taken aback with this very low price. So the guy tells me there are a few problems with the land, its owned jointly with his sister, who he fell out with 20 years ago and she is on title.
So at this stage I decided that I should tell the guy that he is very, very low on his price IMHO about 5 times to low. He can hardly believe what I am saying, he told me that he had bought it to grow ginseng on, but because he did not make an immediate return his sister got mad and basically abandoned the land. But he has been paying taxes on it for all these years.
So I gave him my best advice about how he should handle the mess with the usual common sense suggestions.
This guy was so impressed by my honesty that he says "Do you want to hunt it". So basically I declined as I have my own place and wished him luck in selling this place. When I asked him where he got his pricing from he stated the MPAC assessment.
Now this does not have a building parcel on it and is zoned RU but still I felt the price was way low.