Ben Oostdam story # 30

Real Estate, Lancaster Country, PA, 2004

Today, I was told this story by a farmer:

He and his brother and sister had just sold 15 acres of the 90 which his grandfather had bought for $28,000 some forty years ago. The acreage sold was along a highway opposite Manheim Auto Auction, and brought them $ 120,000 an acre for a total of $ 1.8 million.

A few years after the initial purchase - he recalled - some officials of PP&L had visited grandfather to discuss constructing two high towers on the land.
Before they came in, grandpa had called the family together and told them that he would bargain for as high as $5K per tower.
So when the men came in, he welcomed them first and then said something like:
"Let the game begin."

One of the PP&L men offered $ 15K for the highest tower and $ 10K for the lowest. So grandpa took a check of $ 25K, apparently without further bargaining.

When his brother met one of the PP&L gentlemen again a few years ago, he was told that this visit was still clearly remembered, because they had been warned that they would have to face a shrewd bargainer. So they had been surprised about how easy the transaction had been and how cooperative the old man had proven to be.

The brother then told him that they could have settled for just $ 10K ....


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