Selling nearly worthless land

[RobbieB]

Just wait until some tribe builds a casino...

 

[Human]

So, I did a little research, and I found a lot of warnings about having your property auctioned out from under you and increasing fines and interest, but nothing about what I would consider serious consequences. Since I would want them to seize and auction off the land, that's not a problem. And I assume that process would negate the money that was owed, although I'm not positive about that. Since my property is so completely worthless, I'm seriously considering this option. But I don't want to do it if I'd become a criminal or my credit rating would get smashed. So if anyone has ever gone through this or has any knowledge, I'd really appreciate the information.

I found about the same in my research. But agree it would be best to hear from someone that actually took this approach.

 

[spncity]

I have always wondered if someone leaves you several items in his/her will, can you refuse some of the items and only accept what you want?

 

[Lawrencewendall]

If you look at satellite view, people are living there. It even has its own airport.
Do you have an address or lot#

 

[Human]

If you look at satellite view, people are living there. It even has its own airport.
Do you have an address or lot#

Unfortunately, there isn't anything near the lot. No a single house for miles, and the the nearest towns are an hour away.

 

[Human]

I have always wondered if someone leaves you several items in his/her will, can you refuse some of the items and only accept what you want?

Good question. In this case, I'm more worried about having to go through probate in multiple states.

 

[Lawrencewendall]

Unfortunately, there isn't anything near the lot. No a single house for miles, and the the nearest towns are an hour away.

Is that just north of Boron?

 

[Human]

Is that just north of Boron?

Yep

 

[Sunset]

Unfortunately, there isn't anything near the lot. No a single house for miles, and the the nearest towns are an hour away.

Oh how funny, I was curious and looked a few days ago, and picked this property as representative of your unwanted land.

It is a pretty desolate area.

 

[Human]

Oh how funny, I was curious and looked a few days ago, and picked this property as representative of your unwanted land.

It is a pretty desolate area.

Haha...funny Yep, it's a desolate place

 

[brucethebroker]

I thought of that, but I’d just be moving the monkey to my back.
This is interesting. Any ideas on where to begin?

+1 on donation to a charity. Try local churches, food banks, Salvation Army, Red Cross, etc.
The charity can then keep or dispose of the land. Even a low sale price will help the charity.

A local Realtor can help you with the pricing if you decide to either sell or donate. Check with your accountant/CPA, but a Realtor market analysis and a county tax assessor value might be enough for the purpose of donation value.

 

[brucethebroker]

Yes, inherited a couple of acres that used to be part of a family farm. Whole thing is woods now. Years ago the town ruled the area it is in cannot ever be built on so it's not even saleable except as a woodlot, or for camping, said the appraiser. And yet the town wanted $500 a year property tax.

First I got the property tax lowered to $40 by filing an appeal. Then I looked up all of the abutters and asked them if they wanted to buy it. One of them had an existing house before the no-building rule and my land was behind his back yard. Sold it to him for a whopping $500, which was better than nothing.

I tried giving it to the various conservation places before finding the abutter and even the conservation places didn't want it.

Maybe one of your abutters could be interested.

another good idea.

 

[Out of Steam]

+1 on donation to a charity. Try local churches, food banks, Salvation Army, Red Cross, etc.

This is the first thing that came to my mind. I understand that similar issues can pop up with timeshares.

 

[Human]

OP here with a quick update, for those that are curious.

I decided to take the unsolicited offer that was received by mail. The process was fast and smooth. Given more time, I probably would have looked into donating the land.

Thanks to all for the suggestions!