Asheville Homes and LAND!- The Keep In Touch Blog

head_left_image

Anatomy of a Land Sale. Chasing Waterfalls. Part II

update: if you like this post, please subscribe to my blog! Thankyou!

waterfall. North Carolina Stewardship in Land Sales

UPDATE: Part III  is now up...

In Part I of this unfolding land sale transaction, our  client, JT told me that when he first became interested in 1031 Exchanges in conjunction with conservation development, he considered himself lucky to bump into one real estate professional who understood the intersection of a "cultural creative" investor and his quest for land with a waterfall he could steward.   

Surprised, I noted that there‘s a market trend toward sustainability in design and construction as expressed in  conservation development properties.

 But all that aside, this land transaction was going to be a fantastically interesting one (see Part I for the details)  that would take us to last week and to making an offer to purchase and contract on a 40+ AC parcel with a tall, tall waterfall as its centerpiece.

The property had only been on the market for a week, so JT was anxious to secure his find. It was Saturday and we had little time to research the seller and the seller's motivations and concerns. So,we advised that JT present a "reasonable" offer. He insisted on making a full-price-cash offer with the only contingency being that the waterfall actually fall within the property boundaries. A metes and bounds survey had been done, but that was way long ago!

So the OPC was prepared, signed and delivered in one of our recycled envelopes with the Ivory-Billed Woodpecker emblem upon it. (SCAN) It was accompanied  by a very friendly hand-written note by our client who described how he would take good care of this land and waterfall. He assured her that he did plan to put most of the land, including the falls, aside in a land trust.  She need not be concerned that he intended to build his home atop it.

The seller received the offer, but requested a few more days to deliberate!

Deliberate what?   Our client OK'd the extension of the deadline and he (and we) awaited the seller's response wondering what her deliberations would mean for us.

 

 

Here's what. The seller came back with the following:

•1)      Buyer to pay for the survey (probably around $20,000.)
•2)      Buyer to pay for all closing costs
•3)      Buyer to pay all the commission...

AHA! Now we knew more about the seller. Never mind the note our client had written about how he would take good care of this land and the waterfall. Her motivation had nothing to do with that.
Dismayed, our client decided to "deliberate" himself.
He headed for a photo shoot on the other side of the State.

Within days, the property was re-listed at a new asking price.

Tune in for Part III (still unfolding as I write) where the Seller raises the asking price by $50,000.
And our client makes his move.

UPDATE:Much to our amazement...JT decides to make a New Offer....
Will it be another full-price one? Your guess is welcome.

Resources and INFO: Are YOU a Cultural Creative? Here a QUIZ

                     "Subscribe, Comment & Bring 'Energy' to Every Post You Read" ~ Green-o-Lina 

####

 

 

 

True Guide to AGING IN PALACE eBooklet Becomes Amazon Best Seller

 
Your Home for Today and Tomorrow- Smart UP-Fitting
GO HERE - for Tips & Talking Points.
 Home Decorating, New Space Design

 

Aging in PaLACE eBooklet

 

"Helpful starting points for talking about and designing
a functional and BEAUTIFUL lifelong home."

 

Asheville NC Real Estate Journal for RESOPURCES & REFERRALS -Mountain Homes and Land Legacies- Asheville 1031 Realty© 2014.  Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws.  All rights reserved.

he Necessary Disclaimer! We disclaim liability for damages or losses, direct or indirect that may result from use of or reliance on, information contained in the blog or for accuracy of comments or opinions of visitors to our blogs.

 

DAILY  ASHEVILLE AREA NEWS YOU CAN USE 


* INFORMED CHOICES* THOUGHTFUL ADVICE* DATA INTERPRETATION*
-Tell us what is most important to you-
 Email me janeAnne@janeAnne.com  or give a call at: 828-776-0779

LIC #:209970

Comments

Just got the news. It's 7:30 PM Saturday...Wait until you read what happens next!
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago
wow JaneAnne, I can't Wait for Part 3!  I know you handled your shock with grace.  BTW, I think I am a cultural creative also, I took the quiz, who knew?!
Posted by Janie Coffey, Uniting Extraordinary Homes w/ Extraordinary Lives (First Coast Sotheby’s International Realty) about 11 years ago
Janie! I figured you were a CC...I can tell from the intricacies of your style and experience =) You might like to check out YES Magazine...
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Wow, I am also looking forward to part 3.. how long do we have to wait? Off to take the quiz! Alright! I'm A CC too!

Posted by Lysa Napolitano about 11 years ago

I just don't get it.  Ugh. I know what you are going through with this one, I feel for both you and your client. 

Sounds like a beautiful piece of paradise.  I took the quiz too and I was a cultural creative. 

Posted by Stephanie Edwards-Musa, knitwit at thred UP (thredUP.com) about 11 years ago

I am on the edge of my seat- this is better than any novel I could be reading right now!
janeAnne- cant you slip a few clues to us!!!!! Can you tell us about the list agent- is there experience under his-her belt in selling such properties ?

I have never heard of such slickness or deliberations that entailed what your have ! Best to ya janeAnne > and get that part 3 typed so we can read it!!

 

I am a CC as well. !

Posted by Michele Connors, Your Eastern North Carolina Realtor (The Overton Group, LLC Pitt & Carteret County) about 11 years ago
I feel like a kid waiting for my bedtime story!
Posted by Joan Mirantz, Realtor, GRI, CBR, SRES - Concord New Hampshire (Homequest Real Estate) about 11 years ago
janeAnne, obviously the seller is not a CC!!!  Idiots, I hope they read this!
Posted by Gary Smith (Agent Marketing Today) about 11 years ago

Lysa~

Looks like you will have to wait for a little while for Part III. Now I bet you ae ging to ask me to define "a little while", right? Typical CC. (I'm smiling)

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Steph~

Luckily my client is a very steady person. When you spend as much time observing nature, including human nature as he does in his professional, possibly that is one of the benefits.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Michele~ 

A few clues, eh? OK... when a person's motivation is what the motivation is, then we address the motivation. How do ya' like that?

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Joni~

There are plenty more where this one came from. We all have 'em I surmise. Maybe we should write a book!?? Joan W. suggested that to me just today. Let's hope this one has a happy ending. We will all fidnout together, that's for sure.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

JaneAnne, I love working with clients like that.  They end up being best of friends by the end of the transaction. 

Your comment to Lysa about typical CC...explains me too. Thanks for answering that question for me.

I would bet with your genius and your client's motivation, it will work out.  Maybe we should make bets.  :)  Losers write a post on what the winners choose.  I can't wait to hear how it ends. 

Posted by Stephanie Edwards-Musa, knitwit at thred UP (thredUP.com) about 11 years ago
Hope you know I was kidding about the bet part. :)
Posted by Stephanie Edwards-Musa, knitwit at thred UP (thredUP.com) about 11 years ago

Well janeAnne, You have me on the edge of my seat...The clue did not help much...But I do have a guess.

Hope tp see part3 tomorrow!

Signing off... Another CC friend,

Ginger

Posted by Ginger Sala, Wilmington NC Real Estate & Relocation~ (Wilkinson & Associates, Wilmington NC) about 11 years ago
Oh, the suspense is killing me.........
Posted by Laurie Manny (Long Beach CA Real Estate) about 11 years ago
Can we expect part three to appear sometime soon?  We're all sitting on the edge of our chairs waiting to hear how this plays out.
Posted by Diane Bell, Hilton Head Real Estate, Bluffton (Charter 1 Real Estate, Hilton Head, Bluffton, SC) about 11 years ago
Nah, I won't ask.. I'm subscribed! I'll know when you post again! :)
Posted by Lysa Napolitano about 11 years ago

Steph~ 

You may have to wait a week (or less, or more)  to find out how this progresses. Our whole team over (the ecologist, the surveyor, the land planner and 1031 guy + yours truly) have been enjoying the

a n t  i c i  p a t i o n ...I'd just feel terrible to deprive y'all of that inner stirring =) ...

This acceptance could be a risky gamble...or NOT .  .  .

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Ginger~

It occurs to me that the practice of real estate is much like riding a waterfall...all parties thrill to the ride and wonder where we will end up...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Laurie~

JUST for you, I will put an UPDATE on this post at 5:00AM your time...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago
Hi janeAnne, Thanks for the heads up on this one. I've been busy so may have missed it. I went back and read part 1 as well. Great story!! Can't wait to see how it ends even though I'm sure your buyers end up with the property(my guess). Sounds like paradise
Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 11 years ago

Diane~

One hint...It's going to be a real waterfall ride. I can tell by the way it's coming down...more as soon as I know more. This one's in progress.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago
It's going to be CONTINGENT on.....okay...waiting.
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) about 11 years ago
I know we are sitting on the edge of our seats, bet you are too!
Posted by Dena Stevens, Putting The Real Into Realtor Since 2004 (Rocky Mountain Realty ) about 11 years ago
Oh my. That's crazy. You would think that full price and cash offer would have been great!
Posted by Christy Powers, Pooler, Savannah Real Estate Agent (Keller Williams Coastal Area Partners) about 11 years ago

Sally~ 

Good-EYE! That little contingent on (e survey) could cause a big downfall in the waterfall project...stay tuned. I hope to put up Part II later today...depending on a few "side cascades" that are out there...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Dena~

Thanks for your a n t i c i p a t i o n...,more news just in. I am writing Part III..hope to have it up later on today! Will update on this post.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Christy~

You wrote, "You would think that full price and cash offer would have been great!..."

Totally! But that's the interesting thing about the real estate profession--you never know until you KNOW...and you've made it through the due diligence period and you're at the closing event...and everyone is smiling, and all the documents are signed.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

I, like everyone else here, can't wait to hear the next segment of this story. I'm an extreme CC and am feeling on the edge of some kind of big positive action to further environmental awareness. I am so appalled at how people put their purse before their planet. I'm sickened daily about what I see around me and can almost understand the mentality of the Concerned Citizens of WNC people who vandalized 2 offices, one of a real estate company who participates in some very destructive "developement," as a means to express their anger with the land rape in the area as people choose to line their pockets and ruin the nature beauty.

I'm still not clear on how to use this active rain thing, but hope I get a bit more time to chime in occasionally in the future.

Posted by Anonymous about 11 years ago

OOh, janeAnne,

Waiting with bated breath for part #3

I find it interesting that you use the word interesting to describe some of the pitfall of our profession...I think the word I would have chosen is stressful!...But yeah it is interesting for sure!

Ginger

Posted by Ginger Sala, Wilmington NC Real Estate & Relocation~ (Wilkinson & Associates, Wilmington NC) about 11 years ago

Ginger~

Yes. "Interesting" is the best way I can describe potentially distressing situations. At least if I describe them as such, I can ,aintian  some sense of objectivity. On this one, it is a real challenge, I have to tell ya'.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Everyone~  Anatomy of a Land Sale. Waterfalls. OFFER ACCEPTED. IS IT-REALLY ??? Part III is UP! Before you read it, take a guess if the offer is accepted or not...and what happens next...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

hmm let's see the $50K increase seems to cover 1,2, and 3 -- Look's like seller is not all that motivated from an eco-friendly point of view.  At this point, I am thinking the waterfall is not on the property --there is something else going on here! 

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) about 11 years ago

Joan~

We all know that you are one of those "smart" people! You got the increase on the exact mark. We don't know about-the falls being on the property..yet...but have put in a call to our angel surveyor for help..in short  order...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago
At least it appears you had a really true water fall!  I've seen the real estate agent's magic camera bring in lots of calls over a 'water fall'!
Posted by JudyAnn Lorenz, Virtual Marketing Consultant (Bar JD Communications) about 11 years ago
I'm a CC too. I am guessing before reading III that they accepted the offer and it is your clients'. Am I right?
Posted by Leslie Godbold, Motivation Speaker, Radio host "Positively Living" (WZGM AM1350 Independent Asheville Radio) about 11 years ago

Everyone~

 Are YOU a Cultural Creative? Here a QUIZ

 

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

JudyAnn~

True waterfall...about one story high..maybe a little more...and W I  D  E .

 I understand what you are saying about "truth in camera-work"...

Once I took an hour-long dirve to preview a horse farm on 20 acres for my clients. It seemed perfect for them from the photos. . a small family horse farm. ..where they could enjoy their 4 horses and an old barn that was on the property. When I got there, the house was not livable, the barn needed to be torn down and  most of the acreage was a steep mountainside. Good-thing I previewed it!

It is so worth it to represent what is THERE in photos.

 

 

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

Leslie~

You will just have to check out Part III (I'm smiling)  but I will give you a hint...NO.

I would be giving it away if I told you more. I am sure you deal with difficult challenges from time to time as Staging Pro...same thing with this situation. I look at such challenges as interesting stories I will one day tell my grandchildren when they follow the family tradition and become real estate professionals...

and...YES Part III  is now up...

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) about 11 years ago

janeAnne- Yes I have had plenty challenges as a staging professional. But my  grandsons prefer the stories from their grandpa on camping, animals and such more than color feelings, benefits of light and furniture placement. So your waterfall will have your grandchildren's attention way before they are of age to be Real Estate Professionals.

No is not the answer I was hoping for :.)

Leslie

Posted by Leslie Godbold, Motivation Speaker, Radio host "Positively Living" (WZGM AM1350 Independent Asheville Radio) about 11 years ago
CC -- and off to part III - I can't wait to see what has transpired!!! See you on the next post!
Posted by Mary McGraw, 2015: Solar Energy Is Still A Simple Machine! (GLREA) about 11 years ago

Hi janeAnne,

This is cruel. I can't stand it. I hate suspense. Fortunately for me I'm reading this 3 weeks after the fact. I hope I can find part 3. If not I'm coming to look for you.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) about 11 years ago

This blog does not allow anonymous comments