I have a two flat residential building adjacent to a parking lot that a developer is interested in purchasing. He is offering top market value, in his opinion based on comparables, for a property similar to my property. How do I figure out what a good price to sell to a developer is? This is a little different then a regular house appraisal since a developer is buying it. They are planning to knock the building down and build condos. I just want to maximize my profit and make sure I make a well informed decision. I just am not sure who to contact.
Sometimes a parcel might be worth far more to someone who's building on adjacent parcels than you would think, especially if your parcel is needed to complete a project.
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Jim Lee, REALTORŪ, CRS, ABR, e-PRO [url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url] [url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url] I am not an attorney & I am not giving you any legal advice.
#33399 - 06/22/0510:18 AMRe: Price for Developer Buy of Property
pikes peak
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Registered: 12/15/04
Posts: 2744
Loc: CO
Have a Commercial Realtor do a market analysis. If you need a more in-depth analysis get an appraisal. Both should be able to take your individual circumstances into consideration for valuation. A good appraisal should carry more weight in your negotiations.
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