Land Swindlers

[Travlr]

I know of an olde woman who sold land way to cheap. It does happen.

One of my real estate deals was two adjoining parcels owned by the same elderly woman. Part of the deal is that I got an option on the piece I wasn't buying for a set (asking) price, and right of first refusal... so basically had the option of buying the property at the set asking price at any time, and I could buy it first if there was another offer.

Two years later I sold the first acreage for almost six times the price I paid and the adjoining parcel hadn't sold. The lady had never really tried to sell it after we made the deal, I think expecting me to buy it. But I couldn't take advantage of the deal we'd made. It just wouldn't have been right for me to buy that property for the price it had been valued at two years prior... and now worth six times as much.

I sent her a bunch of flowers and a note, telling her that her land was now worth a lot more and that she should get $$$ for it, and releasing her from our deal. I think I sleep better for it. But sometimes I don't sleep for it too...

 

[Stonewall Joe]

It is sold to them in most cases. Someone is setting at home researching courthouse data and selling the results. It wasn't as bad before the counties digitized the files and allowed remote access but it was still available if someone took the initiative to go to the courthouse and write it all down. There were these people many years ago.

What really irks me is that they are now calling my cell phone. My number is not public record and is on the National and State Do Not Call list. When I ask how they got my number, they simply hang up.

being on the do not call list does not take your phone number out of public records, it just places it on the do not call list, it is possible to get a list of virtually any town or county in the US and have every name, address, telephone number , cell phone number and email address in that specific area. All of that info is a matter of various records available and searchable by a search engine designed to do these things. With the do not call list, it is illegal to call you under certain parameters but some groups in some instances are exempt and can call you even though you are on the list

 

[Twisted]

being on the do not call list does not take your phone number out of public records, it just places it on the do not call list, it is possible to get a list of virtually any town or county in the US and have every name, address, telephone number , cell phone number and email address in that specific area. All of that info is a matter of various records available and searchable by a search engine designed to do these things. With the do not call list, it is illegal to call you under certain parameters but some groups in some instances are exempt and can call you even though you are on the list

All Solicitors are forbidden to call anyone on the list in Arkansas and the Attorney General has prosecuted several for breaking that law. The law originated when cell phone users were charged by the call and/or minutes used and has stayed since.

 

[Stonewall Joe]

All Solicitors are forbidden to call anyone on the list in Arkansas and the Attorney General has prosecuted several for breaking that law. The law originated when cell phone users were charged by the call and/or minutes used and has stayed since.

the part about forbidden to all and calling is a blurred line, they can get prosecuted but most don't. The FTC is in charge of the program and they regulate the calls that can be made.

Here are the regs; Because of the limits to FTC's authority, the Registry does not apply to political calls or calls from non-profits and charities (but the Registry does cover telemarketers calling on behalf of charities). Also, calls from legitimate "survey" organizations are not covered because they are not offering to sell anything to consumers. Finally, calls are permitted from companies with which you have done or sought to do business. Specifically, a company can call you up to 18 months after you last did business with it.

Arkansas has a few more limitations but not a lot, the caller must tell you it's a sales call and a few other things and hours are stipulated but nothing much more than the federal guidelines. I have an ac company in Houston and we use out bound calling primarily with existing customers and setting them up for their equipment maintenance but I try to stay up with any changes that might affect what we do

 

[chaded]

We get them letters all the time so I am inclined to believe that they do get some people to sell them land or they wouldn't keep doing it. It kind of reminds me of the loggers that give the little ol'lady a thousand dollars for her timber and rake in tens if thousands off of it. They don't get a lot of people to fall for it but it only takes a few..

I always look at the letters just to get a laugh on their offer and then throw them away. I will say though, i did get one recently that wasn't as ridiculous as they usually are and was for more than i paid per acre. Still not what I could get out of it if i sold but I was a little surprised at the offer.

 

[Named'em Tamed'em]

I get several calls a month on a 22 acre plot on Lake Roosevelt. Last one this week they offered a very nice price ($255K) I might respond and see what's up.

 

[Dave]

I can see how someone might get taken if they don't keep up on land prices. I sold my place over on the coast in the fall of 2017. I was talking to my son who lives not far from there. The value he put on that place is double what I got. In my power line dealings with Idaho Power they paid for an appraisal of my entire place. The appraisal came back at 3 times what I paid for it in 2018. My "train Wreck" neighbor paid 56% of what my place cost me in 2018. He got 150 acres that has 30 acres of sorry irrigated ground, no house, shop, barn, or corral. I bought 8 times more land, 2 out the gate BLM permits, more than twice the irrigated field, a real good older house, shop, barn and corral. Land values have really increased.

 

[rocfarm]

One of my real estate deals was two adjoining parcels owned by the same elderly woman. Part of the deal is that I got an option on the piece I wasn't buying for a set (asking) price, and right of first refusal... so basically had the option of buying the property at the set asking price at any time, and I could buy it first if there was another offer.

Two years later I sold the first acreage for almost six times the price I paid and the adjoining parcel hadn't sold. The lady had never really tried to sell it after we made the deal, I think expecting me to buy it. But I couldn't take advantage of the deal we'd made. It just wouldn't have been right for me to buy that property for the price it had been valued at two years prior... and now worth six times as much.

I sent her a bunch of flowers and a note, telling her that her land was now worth a lot more and that she should get $$$ for it, and releasing her from our deal. I think I sleep better for it. But sometimes I don't sleep for it too...

There's a difference between making good market decisions and insisting that a deal makes you money (which is of course fair), and convincing people that something valuable they would like to sell has no value.

The first is good business. The second is stealing.

When I bought my tractor, it's market price with the accessories was at least 29,000, maybe 30,00.

I told the seller that I could give him 24,000 cash. When he agreed, I told him I didn't think it was a good deal for him and asked him if he was sure. When he said yes and that he just wanted out of the thing, we went to a notary and got everything done.

The tractor dealership hated me, though, and wouldn't talk to me. They had wanted to charge a premium to resell the tractor for him, you see. Had to go to another dealership for my service and warranty guarantee (the tractor only hadn't hours and two years left on the warranty).

If he had been a close friend, though, I would have felt real uncomfortable. Actually sold one of my prettier pairs to a friend at a discount to market price this last winter. Just couldn't play hard-selling marketeer with a buddy.

He should get almost all the money for the pair back from the steer calf come September the way prices are going.

 

[rocfarm]

I can see how someone might get taken if they don't keep up on land prices. I sold my place over on the coast in the fall of 2017. I was talking to my son who lives not far from there. The value he put on that place is double what I got. In my power line dealings with Idaho Power they paid for an appraisal of my entire place. The appraisal came back at 3 times what I paid for it in 2018. My "train Wreck" neighbor paid 56% of what my place cost me in 2018. He got 150 acres that has 30 acres of sorry irrigated ground, no house, shop, barn, or corral. I bought 8 times more land, 2 out the gate BLM permits, more than twice the irrigated field, a real good older house, shop, barn and corral. Land values have really increased.

If you are in Texas, Alabama, Louisiana, or Mississippi, this is one website you should keep abreast of, FYI.

Rural Land - Real Estate Center

Real Estate Center at Texas A&M University, helping Texans make better real estate decisions.

www.recenter.tamu.edu