I have been following a 17-acre vacation cottage property (1-bedroom, old but in decent shape) in a very desirable area near the ocean. It's surrounded by wildlife reserves and nearby are some very expensive homes.
The place has an outhouse, no electricity, and is heated with a wood stove -- extremely unusual for this area, but actually the precise sort of thing I happen to be looking for in a vacation property. (It did recently pass a perc test.) It's even on a huge salt marsh so tons of birds, baby crabs etc. Also stuff that interests me a lot. (Probably bugs too, but.)
It also happens to be in an area that will probably be underwater in 10-30 years due to climate-change induced sea level rise -- at least during storms. So there's that. The house is up on a small hill so it may be OK, but it's completely possible that some or most of the land will be flooded at least part of the time in the future.
Records show that the property transferred for $1 in 2011, so probably a relative giving it to someone else. It consists of 3 lots packaged together and went on the market in August 2015 for $299K. Price was reduced several times and is now down to $179K. According to Zillow, 9000+ shoppers viewed this home but only 4 saved it (and one of them was me). The listing now states "Calling for ANY and ALL offers by July 21!!" Taxes are $2200/year. (or what it would cost to RENT a 1-bedroom cottage for a week in the summer in that area)
I am tempted to offer them $50,000 in cash and see what happens. Does that sound crazy?
(I have been looking for a place like this for years. Yes, I am aware of all the reasons you should not buy a vacation home and I still don't for sure if this is the right place or if I should even do it at all. But just humor me for the time being.) Thanks for your responses.