E/2 SW/4 & E/2 NW/4 of Section 35, Township 15 North, Range 19 West Selling Price
I have been offered, and signed initial contract, for $2000 for this bit of property. This would be a sale, not a lease. Siblings and cousins have all adjoining property. Siblings are selling their portions (1/4 each, however, this is my part of the property. Before I close, I wanted to check in on whether this seems reasonable or not. It is 2.5 acres. Can supply additional info if needed. I’m new to this! Thank you.
In 50 years of practicing law I have seen initial offers but never an initial contract. You say you have signed but, have you turned over the contract yet? If you have then there had been an offer and an acceptance. Did they tender you a check? If not, then they may be trying to flip the property at a profit before closing. If they cannot then they will walk away. You have to get them to cancel and return the contract.