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Author
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Topic: vermont land for sale
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Laureen
Member
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posted 03-01-2004 05:29 PM
  
Please note that this is a thought only...I'm kind of thinking outload here...
With that said, a relative of mine owns 800-1000 acres in the woodstock/killington area of Vermont. I would love to purchase some land to build my own "folly." The relative is willing to sell the land but there is a problem. He wants $1000/acre and won't sell it off in lots because he cannot afford to put roads in for access. Well, I do not have a million to drop on mountain-side land...or any other land for that matter... So, the thought occurred to me that there may be others out there who might like to split the land...either for their own castles or perhaps use a portion of the land for commercial use such as a village or chapel and great hall for weddings or B&B or something.Just for the record....I'm
Again, I am thinking out loud here but welcome any serious thoughts or ideas.
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Laureen
Member
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posted 03-01-2004 05:37 PM
ok...I was having trouble postin then it posted before I could finish my sentence....and correct spelling apparently.I was writng that I am an adult in the 30-40 year range and my relative is an immediate family member...if that has any bearing on the subject. |
Levan
Moderator
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posted 03-04-2004 05:27 AM
Is there no way for your relative just to sell you the portion of land that you need without affecting access to the remainder? Perhaps your relative might be encouraged to consider that the sum raised from selling you some land might enable him/her to develop the portion they retain. |
sailorman
Member
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posted 03-11-2004 12:55 PM
Laureen,
While this probably won't help, consider the timber value on the land. It has been a while since I lived in VT, I had seen land sell, then the new owner sell off the timber and pay for the land. I timbered part of my land in NC and even greatly restricting what the loggers could take, received a nice fat check from them. Understand that loggers have 3 choices, clear cut (they take down everything), normal cut (take only the trees with reasonable value) and select cut (you get the least amount of money but you get to select what trees that cut and what you retain) |
aonghais
Member
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posted 04-13-2004 12:55 PM
Laureen
What you may be able to do is offer to your relative the offer to purchase enough for your 'Folly' and buy an option to purchase the rest. Options can be purchased for as little or as much as the seller and you can agree on (I once negotiated a 500 acre option at $1.00 per acre for 12 months renewable at the end of that 12 months.) If you join this with the clause that you have the logging rights on the land to normal cut or select cut only with x% of the proceeds to go toward the purchase of that property (as Sailorman suggested), you could over the next year or two exercise your option on each acre with the money from the logging to purchase more acreage through the year until you actually buy the whole amount of the property as your relative wants. Plus you have just created an income stream that just may offset the cost of your building. |
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