Selling/buying properties, new property found

[promiseacres]

Ok had a lady contact me. They have a 9 acre property. 10 year old 3 bed, 2 bath house with basement , pole barn, horse shed, fenced and has a hay field . It's a decent location.
She says they would list it for $170, 000 with a realtor, but without they are very open to offers(I have been frank that its too high priced for us) We really need to stay at a mortgage at $130, 000 or less, we can put down $10,000. (Preapproved for 150,000, 3% down ) I want to see this place... but dh does not as he now wants to refinance and build his shop.
Thoughts?

 

[Baymule]

Go see it, what do you have to lose? at least go look at it.

 

[babsbag]

I would go and look but I am the curious type. Building a shop does not get you more land.

 

[Mike CHS]

If you don't go look at it you will always have that "what if" in the back of your mind.

 

[greybeard]

Building a shop does not get you more land.

No, it doesn't, but it does add value, tho I would never go in debt to build one. I cannot imagine having a farm or ranch of any size without a shop of some kind.

 

[promiseacres]

Yeah well it was 4 acres of grass when we bought it.... So though it's zone ag.... it was more residential with lots of mowing. now it's just an acre to mow, pastures and garden

 

[promiseacres]

Well bummer, gal responded back with a "I don't think it's worth much less than our asking price" so passing on seeing it. People are so very stupid. I tell people our range is up to $150,000 they add 20 or 30 thousand and say they have the right place for us. encourage me to think they are open to offers.... if you can't afford it, you can't afford it. Guess I am calling the bank tomorrow about refinancing....

 

[Alexz7272]

I'm sorry, that is tough!

 

[Bruce]

Or maybe in a month these people will be calling YOU when nobody pays their asking price

 

[Latestarter]

Sorry to hear... quite a spread between 170K and 140K (130K loan +10K down) even after losing a 6% commission of 10K it still only brings the net down to 160K... 20K higher than you really want to go. I wouldn't give up looking though... You never know when the ideal situation will appear. Is there any just raw land that you could lease or lease to own, or purchase for hay field? Maybe 2-5 acres? I have no idea what land sells for where you're at.