I have a buyer that’s agreed to sell me about a half acre parcel of land in Tennessee for 5k. Upon further research I’ve discovered there is quite a slope on the property - 50 percent slope on about half of it and 30-50 percent on the upper half (it’s a rectangular shaped parcel)
It is close to a nice lake and I think would have a lake view. Is there any way this is a good deal? I’m thinking no, but just want to get some more input.
Also if the answer is not would it be worthwhile to come back with a lower offer like 1-2k. I’d be ok doing that if I though I could make a couple thousand profit selling it.
Is this property on the lake, or overlooking the lake, or a short walk from the lake? Normally I would pass on something with this steep of a slope, or at the most, offer a very low price relative to its value.
The only exception might be if it’s on the lake, because that’s a unique value proposition that some people might be willing to pay for, depending on the view and lake access. Otherwise, I would not stick my neck out for something like this.
It appears from google earth the lake is at the bottom of the hill and the property is at the top of the hill and slopes down maybe a 4th of the way down the hill. So more of a lake view I would say but it looks very close (though not just a few steps away)
Nice. A lake view can be worth a lot to some people. Even if construction is a pain, some people will do it for the sake of the view.
You might want to send a drone pilot out there to get some footage and pictures of it. That could help you solidify your understanding of the view and get some better visuals on how steep it is.