Is a developer ever willing to pay more than 300k over market value?

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Yes. No additional info or detail needed to answer this.

funny

I thought you were being sarcastic.

Very hard to answer with literally no context. It’s all relative. Increasing a $20 million offer by $300k isn’t unheard of. Paying $300k over market for a $3 million site is a bigger stretch. There are also a lot of factors that impact what “market” is and it tends to be somewhat subjective.

I’ll dm you

It depends, right? What is “market value” anyway. If the developer has a project in mind and wants the land (likely going to tear down what’s on it) the developer may be willing to pay over what the value is of that property in its current use. Think about it: there is a falling down shack on a piece of land and someone wants to build a hotel. Why wouldn’t he pay well over what that shack is worth as a shack?

They could reasonably do so if they are bullish on the area, or in some cases the current property is not the highest and best use for the land so it could sell for a premium due to demand for a higher use.

I don’t know the project, but he is being cheap.

Has anybody seen this done?

He's trying to get the best price for the property, and so are you. If you think it's worth more, then counter. If he walks, he walks. If he really wants it, he'll counter back. If financing is involved, there will be an appraisal, possibly two. Or you could pay for one and show the developer the result if you choose. Or pull your own market data. What it was worth 2 years ago doesn't matter, what is the value today, in this market, is all that matters. He's bringing that up to try to get the price down, same thing you would do if on that side.

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