How much is dirt worth?
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
How much is dirt worth? (by Roy [AL]) May 12, 2011 7:20 AM
       How much is dirt worth? (by Irish [MD]) May 12, 2011 7:42 AM
       How much is dirt worth? (by Gwen [OH]) May 12, 2011 7:57 AM
       How much is dirt worth? (by gevans [SC]) May 12, 2011 8:12 AM
       How much is dirt worth? (by Echo [GA]) May 12, 2011 8:48 AM
       How much is dirt worth? (by BRAD 20,000 [IN]) May 12, 2011 8:50 AM
       How much is dirt worth? (by BRAD 20,000 [IN]) May 12, 2011 8:50 AM
       How much is dirt worth? (by Reid [KS]) May 12, 2011 9:06 AM
       How much is dirt worth? (by Opinionated [NC]) May 12, 2011 9:53 AM
       How much is dirt worth? (by Virden [OH]) May 12, 2011 10:14 AM
       How much is dirt worth? (by Roy [AL]) May 12, 2011 11:03 AM
       How much is dirt worth? (by jguthrie [AL]) May 12, 2011 1:24 PM
       How much is dirt worth? (by Hoodster [MO]) May 12, 2011 2:56 PM
       How much is dirt worth? (by Timbo [OH]) May 12, 2011 2:57 PM
       How much is dirt worth? (by Blue [IL]) May 12, 2011 9:28 PM


How much is dirt worth? (by Roy [AL]) Posted on: May 12, 2011 7:20 AM
Message:

Lets assume you live in a house on a 75 x 150 ft. lot. In addition, your next door neighbor wants you to sell him a 10 x 150 ft. strip of land measured from the existing property line between your house and his. (Your neighbor wants to widen his driveway and have some room left over).

Two questions: how would you determine the market value of that narrow strip of land?

Even if you knew where the property line is (fence)...would you hire a surveyor ($350.00) to come out confirm it?

Has anyone done a deal like before? --76.18.xxx.xxx




How much is dirt worth? (by Irish [MD]) Posted on: May 12, 2011 7:42 AM
Message:

Two Dollars less than what they will say "No Deal" to and make them pay for the survey. --96.239.xxx.xx




How much is dirt worth? (by Gwen [OH]) Posted on: May 12, 2011 7:57 AM
Message:

Your tax district should have the property tax bill broken down by both value of the land and value of any structures. It might be as a percentage of the total. That would be my starting point.

Make sure the driveway isn't too close to your house. It could devalue the property or make for a harder sale in the future. --76.241.xxx.xx




How much is dirt worth? (by gevans [SC]) Posted on: May 12, 2011 8:12 AM
Message:

Rental house?

Plan to keep renting it?

Less grass to mow.

I'd make the neighbor pay for the survey --141.129.x.xx




How much is dirt worth? (by Echo [GA]) Posted on: May 12, 2011 8:48 AM
Message:

In our county, you arent allowed to do that. We arent allowed to subdivide land with out permission . And the zoning we fall under would forbid it. Someone in our county is going have to sue one day. You are only allowed to subdivide large tracts once every 30 years. And small ones not at all. --98.94.xx.xxx




How much is dirt worth? (by BRAD 20,000 [IN]) Posted on: May 12, 2011 8:50 AM
Message:

Does that make my lot 65 wide? Make his more valuable and mine less valuable. No thanks.

You can sell him a temporary easement, granting permission to traverse the certain area until either one of you sells.

Our property assessor sets a value on the land separate from the house. that would give you an estimate on land value.

But I'd be more interested in how much I could charge for the "convenience", not just the square feet.

Better yet, sell him the whole place! --67.175.xx.xxx




How much is dirt worth? (by BRAD 20,000 [IN]) Posted on: May 12, 2011 8:50 AM
Message:

Shorter answer:

How much is dirt worth? Whatever you can get. --67.175.xx.xxx




How much is dirt worth? (by Reid [KS]) Posted on: May 12, 2011 9:06 AM
Message:

what is a comparable lot worth or has recently sold for ? Figure the cost per sq ft and figure how many sq ft your neighbor wants . have them pay for survey and jack it up to what Irish suggested ... and there ya go. --99.103.xxx.xxx




How much is dirt worth? (by Opinionated [NC]) Posted on: May 12, 2011 9:53 AM
Message:

Your original lot is about 1/4 acre. In my area, not city, lots may not be divided if the remaining portion will be less than 3/4 acre. 10 feet off your 75 foot lot is a huge cut. If the existing house is destroyed, rebuilding on a 65 foot lot will offer far fewer choices than building on a 75 foot lot. I advise that you decline. --66.226.xx.xxx




How much is dirt worth? (by Virden [OH]) Posted on: May 12, 2011 10:14 AM
Message:

You need to find out if you can divide the existing parcel, remember there will be underground utility access already platted on the county register. --99.160.xx.xx




How much is dirt worth? (by Roy [AL]) Posted on: May 12, 2011 11:03 AM
Message:

Thanks for all the replies. Now I can give all the juicy details.

In a few minutes, I will be writing a contract to buy another fixer-upper house for $5K. The lot this house sits on measures 75 x 150 feet. Standing in the street looking at the house, on the left side is a vacant 50 x 150 lot which is included in the sale of the house I am buying! I will be buying this house when I return from St. Louis.

The neighbor to the left of the small vacant lot (50 x150) wants to buy 10 ft x 150 to extend his driveway a little. Since I do not own this property yet, I can't negotiate with him but that day is coming soon. This morning I met him and I made an oral agreement to talk on another day, but after reading the replies here, I may have a problem. If the city says I can't subdivide this,..well it will be his tough luck,..not mine.

It is the house I that care about,..this house is a 'diamond in the rough' if I have ever seen one. All of the surrounding houses in this neighborhood generally sell for around $150K !!!

--76.18.xxx.xxx




How much is dirt worth? (by jguthrie [AL]) Posted on: May 12, 2011 1:24 PM
Message:

Is this sewer or septic. If septic, my thoughts are no sale. You might need that for field lines. --199.248.xxx.xx




How much is dirt worth? (by Hoodster [MO]) Posted on: May 12, 2011 2:56 PM
Message:

Worth a lot of money. Make sure you're not making the lot too small by the locality's building codes.. --71.153.xx.xxx




How much is dirt worth? (by Timbo [OH]) Posted on: May 12, 2011 2:57 PM
Message:

Why not grant an easement for the driveway for some consideration? --167.239.xx.xxx




How much is dirt worth? (by Blue [IL]) Posted on: May 12, 2011 9:28 PM
Message:

I have done this.

My lot was the end of a cul de sack, so the lot was pie shaped with the cut off point being the driveway area. The people on the next street' back yard was cut into by the back left side "point" of my yard's triangle. There was a line of large tall trees that made a natural line and these people had always cut the grass on that side anyway.

I bought this house as a flip so had no emotional attachment to it. Neighbor approached me about selling that "point" to him.

In our county you can sell adjoining pieces to the neighbor with no problem.

I sold it to him for $5K. (bought the house for $75K renovated and resold for $121)

I wrote up a little contract agreeing to the price, since it was an odd shape (no a straight line like yours) we agreed to split the cost of the survey NOT TO EXCEED $500 on my half. Surveyor came and we walked the area and put stakes in the ground and he wrote up the legal description.

What was the property "worth"? Well, to us, $5K. --99.152.xx.xxx





Reply:
Subject: RE: How much is dirt worth?
Your Name:
Your State:

Message:
How much is dirt worth?
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible.
Email Address: