How to value undivided property to purchase??

[trophy8]

That or a looky Lou tire kicker

Ohh!! How dare me forget that one. Good save sir.

[GR5]

i have been before a district Judge 3 different times gaining surveyed deeds to undivided interest. Its not that hard, need a attorney that been there before. After you claim your part the judge will appoint comminsioners (Normal citizens) generally about 5 people, to go look at the proposed division and IF ITS fair. Worked like a charm for me.

[gatt40]

If this property is in San Patricio I would advise you to stay away. My wifes family owns some property similiar to what you describe and there is this guy that claims he is buying up property around it. So far I have found myself in a lawsuit over this and it keeps getting worse. We go to mediation Tues and from there I don't know where. It has cost me almost $6000 and the bill keeps going up. Could have gotten a really good lease or piece of land for that kind of money. It too is undivided interest. Run.

[M16]

I bought 6/10s of a piece of undivided property for around 40% of value. I got them to throw in the minerals for what I figured would be legal cost. Talked to the other owners and came to an agreement where to split so everything worked out quite well. It was property that was next to mine and their easement for access was iffy. So it was kind of landlocked but turned out to be a very good deal.

[ratterrier]

I bought 6/10s of a piece of undivided property for around 40% of value. I got them to throw in the minerals for what I figured would be legal cost. Talked to the other owners and came to an agreement where to split so everything worked out quite well. It was property that was next to mine and their easement for access was iffy. So it was kind of landlocked but turned out to be a very good deal.

Thanks 16 been figuring 30 per off or so..

[MQ32Shooter]

Like others have said, run, don't walk away from this deal unless you have the money to burn. I'm a real estate appraiser and when we uses to appraise an undivided interest in a property, the discounting process makes the subject way less valuable than what it would be worth in a "fee simple" ownership situation. Notice I said when we use to do these. Now we absolutely refuse an assignment like this.

[Firefyter]

Like others have said, run, don't walk away from this deal unless you have the money to burn. I'm a real estate appraiser and when we uses to appraise an undivided interest in a property, the discounting process makes the subject way less valuable than what it would be worth in a "fee simple" ownership situation. Notice I said when we use to do these. Now we absolutely refuse an assignment like this.

This X2. My wife is also a real estate appraiser and will not touch these because she knows she will be in court forever.

[cosmiccowboy]

I bought 6/10s of a piece of undivided property for around 40% of value. I got them to throw in the minerals for what I figured would be legal cost. Talked to the other owners and came to an agreement where to split so everything worked out quite well. It was property that was next to mine and their easement for access was iffy. So it was kind of landlocked but turned out to be a very good deal.

It sounds like in your deal you were in the drivers seat with a majority interest. If I understand correctly He is talking about buying approximately a 16% stake in an undivided piece and will be a serious minority partner. Sure sounds like trouble to me without more details.

[Clintbow]

Go talk to a lawyer. Then go talk to another lawyer.

[RiverRat1]

Get the main owner to divide off 200 +/- acres for you. Once legally serperate you should be able to buy with no problems.

[M16]

Get the main owner to divide off 200 +/- acres for you. Once legally serperate you should be able to buy with no problems.

If you do that it will go for full price.

[let-um-grow]

Know a few guys that have delved into similar deals.....more are very complicated/expensive. Good luck!

[ratterrier]

If this property is in San Patricio I would advise you to stay away. My wifes family owns some property similiar to what you describe and there is this guy that claims he is buying up property around it. So far I have found myself in a lawsuit over this and it keeps getting worse. We go to mediation Tues and from there I don't know where. It has cost me almost $6000 and the bill keeps going up. Could have gotten a really good lease or piece of land for that kind of money. It too is undivided interest. Run.

That district court system down there where u speak of is horribley corrupt and full of potlicking lawyers, best bet is to hire an out of town attorney and demand justice and watch him like a hawk, they all are related connected and get drunk at the country club together after they send you a big bill!!!lol Mediation is a waste of time, you paying a attorney to give your rights away, force them to go to court and fire the lawayer asaap is my vote. Good luck!!!