My cousin hasn't spoken to me since I sold him property

About 30 years ago, my mother bought a vacant 10-acre, partially wooded lot in the country form her brother. My uncle passed in 1997 and my mom in 2006. She never did anything with it and after her passing, my cousin approached me about buying it back. He wasn't going to build anything on it - he just wanted it to go deer hunting. I told him I wanted to research the value of the property. He said he'd give me what my mom paid which was $5000. When I did "comps" I found out the land was worth around $2500 and acre or $25,000 for the lot. I told this to cousin. He got really peeved and said he wouldn't pay over $7000. End of conversation? Nope. About 3 months later he called me again and offered $10,000. I refused the paltry, less than half value. He finally got a friend to go in with him on it and they bought the land for my asking price, but ever since then he hasn't spoken to me, even at family gatherings. Is he just carrying a snit too far or should I have sold him the property way below it's minimum value? I think if the situation was reversed, he'd hold out for full value.
 

Autumn

New Member
If anyone should be angry it's you...it sounds to me like he tried to take advantage if you, and he's angry that you were too smart and too well-informed to fall for it.

I wouldn't worry, his behavior reflects badly on hhim, not on you.
 

AprilSun

Senior Member
Location
USA
If anyone should be angry it's you...it sounds to me like he tried to take advantage if you, and he's angry that you were too smart and too well-informed to fall for it.

I wouldn't worry, his behavior reflects badly on hhim, not on you.
I thought the same thing. When I first read her post, I said "He is trying to take advantage of her". He's mad because you wouldn't let him.
 

Keesha

❤️🇨🇦❤️
About 30 years ago, my mother bought a vacant 10-acre, partially wooded lot in the country form her brother. My uncle passed in 1997 and my mom in 2006. She never did anything with it and after her passing, my cousin approached me about buying it back. He wasn't going to build anything on it - he just wanted it to go deer hunting. I told him I wanted to research the value of the property. He said he'd give me what my mom paid which was $5000. When I did "comps" I found out the land was worth around $2500 and acre or $25,000 for the lot. I told this to cousin. He got really peeved and said he wouldn't pay over $7000. End of conversation? Nope. About 3 months later he called me again and offered $10,000. I refused the paltry, less than half value. He finally got a friend to go in with him on it and they bought the land for my asking price, but ever since then he hasn't spoken to me, even at family gatherings. Is he just carrying a snit too far or should I have sold him the property way below it's minimum value? I think if the situation was reversed, he'd hold out for full value.
Haha. This guy doesn’t understand the term inflation. Thirty years ago $5,000 isn’t worth $5,000 now plus property values go up. You should be happy he’s out of your life. You don’t owe him a thing. Your mom bought it fair & square and you inherited everything and that was part of it.
Cheeky Blighter! A phrase my parents used. 😁
 

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