Has anyone went knocking on doors to buy land?

[Duke03]

I'd like to buy some land around me, but the problem is nothing is for sale...In a perfect world I'd like to buy about 30 acres and build a new home with the idea once my kids get older and if they want to stay in the area, I can break off an acre or two and give them to build a house on.  I live in a rural setting and trust me there is land everywhere, but right now there are just two parcels for sale.  I've been watching one of them and they had it listed at 790k and have since lowered the listing to 650k to now 420k and I have put in an offer for what I feel it is worth, but I don't think we are going to come to terms.  I've spent hours driving around looking up addresses to see who owns the abandoned Farmhouses and am prepared to start sending letters etc.  My wife and I are active in the community and volunteer a lot of our time, and we've put feelers out and told everyone we come into contact with that we are looking to buy, but haven't gotten any solid leads yet...

This has led me to want to start knocking on doors and handing out business cards saying we are looking to buy.  We are members of the community and know what keeps it special and don't want to change a thing.  Does anyone have any tips or suggestions how I can make this more appealing to someone who might be on the fence about selling.  I'd pay all survey cost, closing cost and pay cash for the land.  Basically, make it as painless as it can be.  If you currently own land, how would you feel about someone knocking on your door and offering to buy a piece of it?

[GilesMM]

You could make your pitch on the local FB group. Post a sign at the newest farm store.

[Askel]

If you currently own land, how would you feel about someone knocking on your door and offering to buy a piece of it?

Your opening offer better be way above current market prices, otherwise I'm not interested in even discussing it.  But ain't nobody paying $420k for rural 30 acres parcels here. Land here (way northern MI) is cheap to own so no real incentive to sell it.

Any large commercial land holders in your area (agricultural or forestry)? Might have better luck with them as it's all about the money, they won't get all weirdly sentimental about their old growth white pines like I do. Local forestry companies regularly split off recreational parcels if it makes financial sense to do so.       

[LiveLean]

It's pretty easy to find the ownership information for landowners via property appraiser websites, other public records, etc. Since it's just land in many cases -- no homes or improvements -- there's no door to knock upon. It sounds like you're well-connected in the area. Find a local land broker - not a single-family-home Realtor, but someone who specializes in land - and they can approach whoever you want on your behalf. If you're trying to avoid real estate commissions, that's another story. Sounds like it would be worth it for you, though.

[Askel]

Fun Fact: When your name shows up on the quarter quarter section list in this state, you get on the land broker spam list. I regularly get postcards in the mail from outfits that give off serious Glengary Glen Ross vibes.   So yeah, I know those guys have "exciting opportunities" with "very interested buyers". You have to get above the background noise level with a good offer.   

Patience and persistence may be your best bet.  I shopped for years for our current home and parcel. And when I found it, it was way over priced.  After letting it sit and get nowhere for another couple years, I was finally able to make my low-ball offer that stuck. Ended up getting it for less than 50% of the initial asking price.

They had owned the place for greater than 50 years, so no debt pressure and taxes were only a couple hundred dollars a year, they had all the time in the world to wait.     

[former player]

Find out the name of the owner and send them a personal letter saying that you are interested in buying a parcel of land if they are considering selling, and emphasising your connections iin the local community.  Be prepared to wait and to offer a fair price.  A friend of mine bought her dream house by doing this.

[Sanitary Stache]

Where I am the local land trust advises knocking on doors and asking about succession planning.  We have many old and small farms that are unused with no new generations to take them over.  When a small dairy goes out of business the farm house and barn still exists, just the cows have been moved to a CAFO.
 The people that still live there want to see their farms continue and this is how most Land Trust deals get made.

Knocking on doors is the tried and true method. For these people, personal connections are the reason for life.  Post cards might also be helpful. Anything that lets them know you are a real family and not an investment company.

I often knock on doors asking farmers to forage on their land, but I haven't gotten the nerve yet to ask about their succession plans.

[jeninco]

Find out the name of the owner and send them a personal letter saying that you are interested in buying a parcel of land if they are considering selling, and emphasising your connections iin the local community.  Be prepared to wait and to offer a fair price.  A friend of mine bought her dream house by doing this.

We get what appear to be these letters all the time (we own a house in town and a small -- and strangely shaped -- lot in the mountains) and they go directly into the trash. However, we're 90% sure they're scam/commercial. In any case, we're not interested in selling, so it doesn't matter much.

[Duchess of Stratosphear]

I sort of did this 20+ years ago back when classified ads were still a thing. I put an ad in the paper saying I was looking for about 3 acres of land. I had several people call me and one worked out. I think he was thinking of selling but it wasn't on the market yet, so I wasn't competing with other buyers as far as I know.

[Duke03]

I think our game plan moving forward is get some post cards made up explaining our story, who we are, why we are looking to buy, and then send them out to owners of land that we'd want to purchase.  On the 20 acres that is for sale we had made a 350k cash offer with a 7-day close. Maybe they will eventually come around...

[Michael in ABQ]

I had an appraisal assignment 5 or 6 years ago for some pumping stations along pipelines in the middle of nowhere in eastern New Mexico. Basically what was the value of a 1-acre parcel of land. It was nearly impossible to find any sales of parcels that were just 1 or 2 acres. You would find listings for "ranchettes" that were 20-100 acres or parcels that were hundreds or thousands of acres, but virtually nothing for just a rural homesite.

This was land that would sell for $500/acre (in 100+ acre parcels) usually just grassland/high desert that could support a fraction of a cow per acre and had no water or other utilities. The only use was for recreation/hunting or ranching.

I ended up talking to a few large landowners and it basically came down to the fact that even at $10,000 an acre it wasn't worth the hassle to try and carve out a 1- or 2-acre parcel. Unless you were looking to pay tens of thousands of dollars most of the landowners weren't interested.

[PVD_Kev]

I'd like to buy some land around me, but the problem is nothing is for sale...In a perfect world I'd like to buy about 30 acres and build a new home with the idea once my kids get older and if they want to stay in the area, I can break off an acre or two and give them to build a house on.  I live in a rural setting and trust me there is land everywhere, but right now there are just two parcels for sale.  I've been watching one of them and they had it listed at 790k and have since lowered the listing to 650k to now 420k and I have put in an offer for what I feel it is worth, but I don't think we are going to come to terms.  I've spent hours driving around looking up addresses to see who owns the abandoned Farmhouses and am prepared to start sending letters etc.  My wife and I are active in the community and volunteer a lot of our time, and we've put feelers out and told everyone we come into contact with that we are looking to buy, but haven't gotten any solid leads yet...

This has led me to want to start knocking on doors and handing out business cards saying we are looking to buy.  We are members of the community and know what keeps it special and don't want to change a thing.  Does anyone have any tips or suggestions how I can make this more appealing to someone who might be on the fence about selling.  I'd pay all survey cost, closing cost and pay cash for the land.  Basically, make it as painless as it can be.  If you currently own land, how would you feel about someone knocking on your door and offering to buy a piece of it?

I used to do this a lot for land conservation work. I actually found it quite fun and exciting. I would simply look at the land records, then send a letter introducing myself and my interest in their land for conservation. Then some of them will want to go to the next step and talk about it. A few of those would then go on to sell or donate their land or interests in their land for conservation.

I did find that it takes a long time for many landowners to be ready to sell, but if you build a relationship with them now, they will think of you first when they are ready.

Good luck!

[zolotiyeruki]

Posting to follow, because I have dreams of owning land and hope to buy in the next few years...

[Duke03]

Bit of an update.  So, the land that we put an all-cash offer on for 350k...drum roll please just sold for 200k to another buyer WOW!!!  The seller had put up their home on 18 acres for sale for 1.4 million and the other 20 acres was listed for 420k.  They sold their home for 1.080 million and the 20 acres to the same person for 200k all under a conventional loan per my realtor.  Kind of sucks we offered 150k more and I guess since the other buyer wanted everything, they gave them a hefty discount. My realtor thinks we should wait about 30 days and send the new owner a letter seeing if they'd be interested in selling that 20 acres for 300k and making a quick easy 100k..  The other option is another 22 acres just went up for sale 500 yards down the road, but they are asking 600k.  My realtor thinks once this listing has aged about 45 days with no action we should come in pretty low and mention the 200k comp that just sold.  Not sure how either scenario will play out.

[GilesMM]

Bit of an update.  So, the land that we put an all-cash offer on for 350k...drum roll please just sold for 200k to another buyer WOW!!!  The seller had put up their home on 18 acres for sale for 1.4 million and the other 20 acres was listed for 420k.  They sold their home for 1.080 million and the 20 acres to the same person for 200k all under a conventional loan per my realtor.  Kind of sucks we offered 150k more and I guess since the other buyer wanted everything, they gave them a hefty discount. My realtor thinks we should wait about 30 days and send the new owner a letter seeing if they'd be interested in selling that 20 acres for 300k and making a quick easy 100k..  The other option is another 22 acres just went up for sale 500 yards down the road, but they are asking 600k.  My realtor thinks once this listing has aged about 45 days with no action we should come in pretty low and mention the 200k comp that just sold.  Not sure how either scenario will play out.

Why offer $300k?  Offer $225k to start.    But chances are slim since they intentionally purchased the extra land they probably want it.