Determining Amount of Land to SellI inherited a large amount of land from a distant relative and I am surveying it to determine how many acres it consists of.
After I survey the land I plan to cross fence it and sell one half of it. The track of land is formed in a rectangular shape. The longest side measures 8000 feet and the shortest side measures 6000 feet. Multiplying these two numbers together and dividing them by 43,560 gives me the amount of land I have in acres. There is a total of 1102 acres of which, I want to sell 551 acres.
It is going to cost me 10,000 dollars to have a pipe fence constructed separating each plot of 551 acres. I plan to clean the place up a bit so hiring somebody to mow the areas not covered with trees and clean the existing fence lines is going to cost another 5,000 dollars. Miscellaneous cost such as newspaper and magazine ads, for sale signs, and a new culvert for entryway will cost about 2,100 dollars. I plan to get 1500 dollars an acre for the land, which for a high quality piece of property this, is a steal.
At this price the land will close for 826,500 dollars. After subtracting the money spent on preparation of the property 17,100 from the selling price of 826,500 dollars you end up with a nice amount of 809,400 dollars. This paper is for an agr class. it is aa paper describing the necessity of survying when buying and selling land.
