Is this common to get an offer on property via mail?

[Geno C]

Hi, i was wondering if its pretty common up there to get offers on your property via mail? i just received a whole hand written letter from a women stating she is very interested in my property and would like to purchase it from me while i hold the deed until she pays it off within in 6 months? i was tossing around the idea of listing it even tho i just bought it in march. i want something bigger! so its funny how i got the letter in the mail. Just want to make sure there is no scam going around up there or something. Its in otsego so through the county maps you can access land owners information and everything about the property, so it is rather easy to get in touch with a land owner in Otsego.

thanks!

[moog5050]

Did she ask for your bank account number to deposit the downpayment? lol Not common around here, but I do get the occassional letter from a realtor.

[BizCT]

Sounds a little fishy, but you never know.

I once sold a car to a guy from Tennessee who I thought was a scam artist for months. Finally, I agreed to meet him. I met him at the airport in NY and he paid cash and drove away with the car with his own plates, etc.

[Geno C]

No, she didnt ask for any personal info but seemed very sincere in her letter and her intentions on building a home to raise a family on it.

[Doewhacker]

Sounds strange to me, why couldn't she just save money until she can pay for it all?

[moog5050]

May be legit. Just be careful in what info you provide. Good luck. If its legit, you may get more than you expected.

[BizCT]

She how bad she wants it, tell her it will be 20% interest.

[growalot]

Well here's a thought...find out what is happening locally that may potentially put your property in line for a large value increase...wolves come in all sorts of coats....lol

[Doewhacker]

Gas/Mineral Rights?

[Dinsdale]

I bought my house like this. I sent about 50 letters out to folks with acreage or overgrown neglected "handy man" special places.

Stuff I thought I could swing for size vs price at the time (was out of college about a year).

Ended up making a deal with a widow for what was going to be a retirement place when fixed up. She held paper with me making payments for 5 years at about 2 points above prime at the time.Payments by the month and paid it off early......

She got a good monthly income and the tax planning she needed, and I didn't qualify for a bank loan on a what was basically a dump.

That said, my grandfather held paper in more than 100 houses over a 20 year span when he played real estate agent in Buffalo after retiring out of the steel mill. So I was very comfortable regarding the paperwork and documents required to protect both parties interests. You need someone well versed in writing up a private mortgage.

Edited October 23, 2012 by Dinsdale

[growalot]

You need someone well versed in writing up a private morgage.

Devils advocate here...if you were to do that...make sure you are well protected...

IE...if the property has good timber a sly person could strike such a deal...have the property stripped of timber and then the person defaults...what you are left with is a piece of property worth far less than what you had some months ago...same could happen with the sale of mineral rights...

[phade]

Hi, i was wondering if its pretty common up there to get offers on your property via mail? i just received a whole hand written email from a women stating she is very interested in my property and would like to purchase it from me while i hold the deed until she pays it off within in 6 months? i was tossing around the idea of listing it even tho i just bought it in march. i want something bigger! so its funny how i got the letter in the mail. Just want to make sure there is no scam going around up there or something. Its in otsego so through the county maps you can access land owners information and everything about the property, so it is rather easy to get in touch with a land owner in Otsego.

thanks!

Out of this whole thread, what I am most interested in Geno, is how she created a hand written email?

Seems scammish to me. But, who knows...

[Dinsdale]

I caught that same email hand written and thought it was just a faux pas. LOL

6 month deal is kinda strange for a term...IMO

I'd be guessing you are targeted because you are from out of the area.....I did the same, looking for someone no longer interested coming from NY City up here.

Got many no responces, a few no, a couple yes that never went anywhere, and some really pissed off folks who demanded to know where I got their name. Ironic after I lived here a couple years one of them became a good friend for many years til his passing.

[Geno C]

Gas/Mineral Rights?

if i sold all right would convey and there are no current leases...

[Geno C]

Out of this whole thread, what I am most interested in Geno, is how she created a hand written email?

Seems scammish to me. But, who knows...

lmao good catch, i meant hand written letter... sorry

[Geno C]

i would have my attorney make this legit if i decided to sell. its doesnt seem like something so far fetched to be contacted by someone who is interested. Funny part was i have been thinking of selling it to buy something bigger for a few weeks now. i just wanted to see if his was a common thing to do up there...

[growalot]

That's the other thing...some one "purchases the land under a land contract....if not written well they sell all mineral rights then default...then your $$$ is circling the bowl....Not to say honest ppl aren't out there...but the dishonest ones just look at it as a "business deal"and $$ is king....even willing paying out a small amount( relative term) of $$ to end up with a bigger amount down the road

[Geno C]

the rights would not convey unless property is paid in full... im no dummy lol

i would make sure all my bases are covered. ive been screwed in the past on things. ive tightened up and think of everything

[growalot]

I have no doubt...

[HectorBuckBuster]

We have written letters to people that owned a couple parcels of land before and that was the only way to try and contact them. When you look up properties online it just gives a address no phone numbers, and now days alot of people have just cel phones and no home phones. I received a call last spring wanting to purchase some land off me to have for a camp site, and I said not for sale.

[Dom]

In my opinion and what I would do is bring letter to my lawyer and have him/she make contact with the people/person wrote you then you could go from there.I wouldn't contact without discussing with lawyers first.