I was looking to buy some land with a friend in our county. It’s a nice piece of property with about 100 acres. It had a great house that my friend wanted to buy, some farmland that I would take, and then a big section of timber that a neighbor wanted. The neighbor was willing to give a good price for the land that would make our portion a good investment. Evidently the current owner was not very happy with our talking to the neighbors about buying part. He wanted to sell, he just didn’t want to section off that and sell it to the neighbor. The neighbor didn’t want all of it and especially didn’t want the house. And we didn’t even know if it really could be separated just wanted to see if we could sell off the part we didn’t want.
When we made the offer the current owner got wind that we were going to sell off the property to the neighbor. He said “you can’t do that”. I told him that once we owned the land, what we could or couldn’t do had to do with the law. If it wasn’t legally allowed to be split it was one thing, but if it was up to us what we did. He said he knew the property and it couldn’t be split. We told him that would be our problem when we bought it. We asked him why he was so particular what happened after he sold. He was upset that we were negotiating with people outside of contract. He was a lawyer that liked to make sure contracts were involved before people started trying to sell things. It wasn’t ours to sell basically. In reality, we were looking to have partners. People that agreed to buy part of it if we bought it. He didn’t like the fact were getting a contract to sell when we didn’t have a contract to buy. Even if it was an “if then” contract.
Turns out he also had one piece of info. That the property couldn’t be divided. It had one easement and didn’t have the ability to add another which was a requirement of splitting. That ended my offer but it gave me a chance to learn a little more about negotiation. It also showed the guy was mad for no reason. He just didn’t like it. But he made me check into what was legal, what was considered unethical. I didn’t think anything we were doing was. Nor did my lawyer. When we did farm trading it was always verbal. “Hey Jim if I buy this you want the section next to the piece you farm?” Or you want to split this? Pretty much always on someone’s word. Nobody ever backed out. Of course, we always drew up papers and it was before we bought. Never considered illegal or unethical. This person didn’t think so. Ironically 2 years later, the guy we were thinking of buying from came to explain why he was so mad. That he never said it was illegal or unethical, just thought it was “Wrong” to talk to neighbors and give prices when it wasn’t ours to sell yet.
I laughed it off and told him I break property and companies all the time. Half the stuff I buy I only need a part of and look to unload the rest. And most of the time I get my part for free. His property was just another one. To him it was his home, to me it was just another investment. I told him he should see how bad negotiations and purchasing is online when you can’t see or know the bidders are. And it’s not like a small town where you can find out. It gets way shady behind the scenes. So the bidding on his land was a piece of cake comparatively.
Domain of the Day: Energy.me As timely of a keyword as you’ll find that’s not crypto. Most bids on the board today at GD
Quote of the Day: We don’t stop playing because we grow old; we grow old because we stop playing.” George Bernard Shaw
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