Land Price Question

[RedRaider323]

I'm in that area, and we have had ranchland there since forever. Around $1,200/ac is the norm. If you get out towards the western part of the county where they are hitting oil, then it will be higher. Water is the key for the area. Fences matter too. I am betting you can get them to come down a bit since the house will need to be redone. Just my opinion.

[Ætheling]

Too many variables based off location to POIs and improvements made to the land.

[Kdog]

Thank y'all! They are selling it with no realtor and are wanting $120,000 for 71.23 acres. There is water and power with an old house that needs to be gutted and redone. There are also 2 chunks of the land that are sold (just a couple of acres).

Get a real estate lawyer to help you. As GarGuy mentioned you need to make sure you have a warrantied deed.

[kumathebear]

Not knowing the exact area or the "Comps," research what water and electric would cost you if not available. I have sold so many acreage tracts WITHOUT water or electric, folks are shocked what it cost to have it installed? The price per acre, to me, is not plain stupid expensive per my experience.

If it was me, I would contact a RANCH/LAND Real Estate agent IN THIS AREA who can research what comparable land has sold for. It won't cost you a penny, agents make their commissions from sellers, not buyers. Don't go with a agent that does not specialize in land sales....residential and traditional community listings are a far cry from land sales. As an example...I always "silently" chuckled seeing agents show up in their 2 wheel drive sedans when I met them with my 4x4 truck towing a UTV crew? How the heck can you sell acreage without at least walking it or driving all over??

Good luck and hope it works out for you...oh, I'm retired now so no help...for now??

[TWP]

Shoot me a PM, I will get you comps. We've bought and sold land up there, depends on where in Coke, down low in the red dirt, or higher up on the divide. As in all real estate, it just depends.