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........, other than preventing my uncle from selling the property to someone else? ..........
Ask for sign an agreement called Right of First Refusal. This way, if your uncle actually gioes to sell the property, he has to approach you first and give you an opportunity to say yes or no. If you say yes, you proceed with buying the property. If you say no, he'd be free to sell it to anyone.
 

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Discussion Starter · #22 ·
Ask for sign an agreement called Right of First Refusal. This way, if your uncle actually gioes to sell the property, he has to approach you first and give you an opportunity to say yes or no. If you say yes, you proceed with buying the property. If you say no, he'd be free to sell it to anyone.
that’s an interesting take. I’m on good terms with my uncle. I feel like if he does sell, he would approach me first (maybe). I think the main issue with me is the ability to make modifications to the property. I have unlimited use now, and can store some things there, but I desire the security of knowing it can’t be sold.

update: negotiations stalled out, but its not a dead deal..
 

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that’s an interesting take. I’m on good terms with my uncle. I feel like if he does sell, he would approach me first (maybe). I think the main issue with me is the ability to make modifications to the property. I have unlimited use now, and can store some things there, but I desire the security of knowing it can’t be sold.

update: negotiations stalled out, but its not a dead deal..
Well, it can be sold to someone else. Most FROR's have a time limit after the language is initiated. So you need to be 100% ready to go at any time. Get pre-approved with a lending agency if you're financing. If paying cash, make sure you have actual cash or easily liquidated assets to make it happen.

And unless a FROR agreement also includes a firm selling price, you may find you're either unwilling or unable to pay the asking price, especially if it's far and away too high above it's market value.
 

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Discussion Starter · #24 ·
Personally I think the market is very inflated right now. I know I’m paying a lot more than I would have two years ago, and if I wait, I think prices will go down lower. Issue is my uncle has sunk way too much into this place and he hates taking a loss.. so if the market tanks next year, he might just get stubborn and not sell regardless if it’s falling into decay.

if the market tanks and there’s a lot of foreclosures, we’ll, then maybe ill look for another property without an overly emotional owner?

we are on the hunt for land to build on as well…. Our realtor friend who lives there full time is sending us remote lake lots to check out. We might just have to build?
 

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Discussion Starter · #26 ·
Do you just joined, and your very first post is asking for a location? You see...there’s this thing we call OPSEC.....
ha ha. Oh good catch, I missed that post… ya. Don’t worry, after the SHTF I plan to dedicate half my electrical solar energy to the neon lights outside that say “fully stocked prepper inside”…. So he will be able to find us no prob.
 

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Discussion Starter · #28 · (Edited)
UPDATE:

Without jinxing anything, my uncle agreed to sell, 100% ownership.

We’ve made an offer (price) and although we haven’t finalized all terms of the sale, my uncle essentially accepted our offer.

Some things to consider, the property stays in the family. He has a lot of stuff, Implements and such at the property. By selling to us, he can take his time selling his stuff without rushing to meet some “closing” deadline. He’s welcome to store his boats, snowmobiles, ATVs, etc (plenty of room). He also has several implements I’d like to include in the price of the sale. That will require some negotiation. some of these include (in order of importance to me):

1- John Deere Tractor (serious unit with air conditioned cab, various implements)
2- Hydraulic Log Splitter (tow behind)
3- Ranger UTV with dump bed
4- One or two of the ATVs on site
5- Various Tools/Air Compressor (he has probably 5 separate large mechanic tool chests, full of crap). I’d only want one, with a standard array of tools.
6- Towable trailer. He’s got a couple from 5x8 to 7x10.
 

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Discussion Starter · #29 · (Edited)
Update:

Uncle agreed to sell to us. We hosted a bbq to iron out details. My uncle proposed a land contract, with a 10% deposit, monthly payments, and after 4-5 years, we’d owe a balloon payment… he was also ok with just a conventional loan, and full payment, but financing for us isn’t an issue… given how we feel this country is going, and the economy, I wasn’t going to do some land contract, where in 5 years i need to take out a 250k loan at 18% interest.. I remember the 70’s and 80’s inflation and interest rates over 15%…. No, I’ll lock in my 3% now, thank you…. And get my name on the deed…

BUT then my uncle balked again. He just could get himself to ”shake on it” to finalize the deal,..

After another night of wrestling with the decision, my uncle made the final decision to sell. We have a “handshake” and he now seems content to sell. I think it was a weight off his shoulders. And it’s not an insignificant amount coming his way.. he can buy a new toy, maybe an RV, whatever.

i offered $20k for the tractor, and $5k for one of his ATVs, but that’s a separate deal…. he balked at the tractor price, putting a higher value on it. It does have a lot of implements and such, and I can see it being worth more than 20k.. so those negations are ongoing.

more onto the planning and renovations of the property…. You can see that the rear “toy garage” has unfinished siding…. He has the siding and materials, but never got to it… in 10 years… so that’s high on the priority list for us.

we also need to wash and restain the siding.. it’s dirty as hell…. :)

edited : outside pics deleted for opsec
 

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Discussion Starter · #30 · (Edited)
Update: we have a signed agreement. He’s leaving us a surprising amount of tools and supplies for the property.

We negotiated all the existing building materials and lumber. Here is just ONE of the lumber stashes, that we placed in racks we put in earlier this year. There are several caches or siding, flooring, trim boards, 2x4’s around the property. We just purchased even more lumber shelving and plan to get all the lumber in one spot.

Building Wheel Wood Tire Floor


we are still in negotiations for the tractor. We’ve upped the offer to $25k, with the implements, but my uncle is balking. The tractor was $31k new. Not including the implements.


we took out a heloc on our existing home to pay the down payment and avoid PMI, and snagged 3% rates all around. Our loans are all approved, pending appraisal. We should be closing within the month.

there is so much to do on this property…. Lots of projects that need to get finished. :).

edited: outside pics deleted
 

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Great news, conngratultions!
 
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Discussion Starter · #34 ·
update:

spent another few days working on the cabin.

did some staining on a a siding project (toy garage hasn’t been completed sided yet, ever..). there’s a new sheriff in town, amd stuff is getting done!

Table Wood Building Rectangle Floor


we also worked on closet organizers for a couple of the bedrooms, as there rally isn’t anywhere for folks to even set their stuff down…

Shower door Bathroom Building Plumbing fixture Flooring


We also installed additional lumber racks in the detached garage. My uncle had 5+ significant lumber stashes in various places around the property, from 2x’s to siding, to trim and wood flooring… tons of wood. In FIVE different places. Ugh. To my uncle, this was organized, and the lumber was where it needed to be, but it just cluttered up 5 spaces.

Wood Wood stain Shelving Floor Plank


The Mrs and I also spent some time MTBing in some nearby single track trails, fun!

my uncle is leaving a surprising amount of tools behind, pretty much everything you see in the wood staining garage photo, plus tons in the lower level utility room See below. This utility room was one of the wood stash locations, and his idea of protecting the wood was to lean it up against the wall… and he wonders why some of it is warped, lol.. we gutted this room of all the nonsense and garbage and cleaned it up, and reorganized everything. You couldn’t even walk in there.. now it’s fairly clean.

Property Wood Interior design Shelf Floor
 

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Discussion Starter · #35 ·
One concern is a wood stove And winter heating. It’s one area of concern. I’ve wanted to install a stove, but couldn’t until we owned the home.. here is the lower level, where I’d like to Put the stove. It’s on an exterior wall. BUT, there are some obstructions on the exterior wall, namely a wrap around deck that’d be in the way That sits just above where the opening would be. My buddy suggests I need to run the stove through the ceiling, through the main level, and out the roof, straight up… that causes a pipe to run through the main level (near the wall, granted). I’m leaning towards actually knocking out that section of the deck walkway and running it externally…


Thoughts?


Handwriting Rectangle Font Gas Parallel


the lower level area in question. yes, I’d build a stone platform base and back wall to redirect heat, etc.

Building Couch Property Furniture Window
 

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Lookin' good, Trihonda! I'm happy for you.
 

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Discussion Starter · #37 · (Edited)
Spent the day siding our “toy garage“ on the back of the house… and getting internet installed and run to a secure closet (where our camera hub will go). i also took the drone up for some aerial pics.

yay, we have internet!

Edited: pics deleted
 

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Discussion Starter · #38 · (Edited)
Spent a weekend working on the cabin.

edited:

But nobody cares. lol. Content and photos deleted. Opsec probably better this way.

ok, back to more important prepping content. :).
 

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Discussion Starter · #39 ·
Also, is this a dumb thread? Do people find this entertaining or useful? I do t want to clog the forum with stuff people dont read
 
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