Maybe the Bundy’s wouldn’t sell?
The property has been in the family for well over 100 years, them not wanting to sell it would make sense.....I mean, if that is what is going on here.
There's a missing ingredient here. If the offered price was 1/10 the appraised price, it's a straight out greed-based power trip. The PTB (powers that be) could probably have used eminent domain if they were willing to come up with a market appraised price of $40 million. I read elsewhere that the Bundy's refused some low-ball offers. There's also the family ranch thing, as you pointed out.