Property Update #15- WWR in Tennessee

So a lot of drama went down yesterday in terms of the sinkhole central property. This has been the most drama to be had without Jerry Springer or paternity tests and what not! LOL

Here is some background on this thing. The seller is a realtor representing herself. She bought the land from the person who has a small single wide on the land right next to it. She paid 50k for the land in 2022 sometime or maybe it was 2021 I can’t remember. She didn’t pay for any of the soil testing, septic permits, anything. They wanted to put rental properties on the land but ultimately decided not to. We believe that she wanted to build near the sinkhole and that would be a liability for having renters there if anything happened, insurance is more expensive. We are building far enough away from the thing that it won’t cause problems. She has a couple other tracts of land elsewhere. Our realtor says this is kind of common for realtors, they buy a bunch of stuff and offload them for money. She’s basically an bad investor.

There are several reasons selling your own land is a bad idea. First and foremost, emotions get involved. Second, there is no agent talking sense into you in terms of the negotiation process. Third, a lot of times they get sloppy and don’t do things with the paperwork they should, like submitting offers and counter offers via email. (which is a horrible idea).

So originally we submitted an offer of 80k and 60 day closing. We need the extra time because we need a second soil test. I FINALLY got ahold of the guy and he said he can get out there in 2-4 weeks. So giving them some wiggle room for 6 weeks is always smart. There’s already one soil test on the property but since we are doing 2 buildings we need 2. There’s a really low chance the thing will fail a second test since there was already a positive one but there’s always a slim chance and we have the worst luck in the world. She countered back via email that she wanted 87,500 with a 30 days closing. She was rattling off all this incorrect shit to our realtor about how if we are building manufactured homes , we shouldn’t need building permits. So after our realtor corrected her, she wanted to see our building permits as part of the offer. Even tho we haven’t even ordered our homes yes. Like wtf. Then she was like “oh and they should be able to get a soil test really quick” which is not the case ever, especially if you use the county environmentalists. There is no way in hell we were going to get a building permit or a soil test that quickly. So she’s obviously the world’s worst realtor who doesn’t know what she’s talking about. Has she ever sold land before? Is she even a realtor at all ? lolol

So she’s wanting to close quick and get rid of it. We sit on it for awhile. Then yesterday our realtor countered her back at 85k and a 45 day closing. Now she goes, well..... i can just hold onto the land. If I can’t get at least 90 for it, there’s no point. We don’t have to sell it. Blah de blah about how she doesn’t really need to sell it and this and that. Opposite of what she said the previous day. She has no other offers on this thing. So she’s splitting hairs over 15 days and 2500.

Our realtor was extra extra annoyed. She was like I have had better negotiations over 6 figure properties than this woman. If this was any other third party this deal would have been closed already. Bestie and her mom think she’s hiding something. I don’t exactly think so cause she disclosed the sinkhole and she really didn’t have to. I just think some people get off on having a power trip. And she knows she has something we want. So we will probably be going in at 90k and a 45 day closing if we can get it. I just feel like we have came too far to just give up now.

I suggested we egg her house.

Bestie: “Egg’s are $1.09 at Aldi now”
Realtor: “If I was in town we could carpool and tax deduct the mileage as a business expense”
Me: I hope she falls in the sinkhole.

Our welcome sign will be: Welcome to Sinkhole Central. 5 acres, and a lot of layers. Like an onion, when you try to split it up, it just makes you cry.

Nothing about what we are doing is conventional, and its been very complex. We knew we were in for a ride but it would be nice if just one thing could be simple. Next steps, We need the original soil test paperwork which she also didn’t give us which leads us to believe that she never paid for it herself. So I have to wait till Monday anyway to call the county. Sigh.

Last updated September 27, 2023