Every once in awhile I start looking for various lots on the net. Well I found one I'm pretty interested in, the price seems fairly reasonable given the size of the lot, location, trees and view, but then I got a copy of the tax assessment through the borrough. I know tax assessments seldom correlate dollar for dollar to what property sells for, but then again they aren't always that far off. In this case, the owner is asking more than double what the borough has assessed the property at.
I have a feeling if I make an offer at the assessed value I might just get blown off, but I'd like to have an idea of what factors might drive a seller to ask a price so much over the assessed value. It is bare land, no road access. They are offering owner finance and a minimal down payment, not sure if that's why they are asking so much over the assessed value.