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Updated over 8 years ago on . Most recent reply

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Cele Oshry
  • Real Estate Investor
  • Clearwater, FL
0
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4
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A developer wants to buy my commercial property

Cele Oshry
  • Real Estate Investor
  • Clearwater, FL
Posted

A developer wants to buy my commercial property for the land value. Nothing else has sold similar to it in years. Things are coming up in the area, and most of the property owners are hanging tight. The developer bought the property next to me, and the one behind. Mine is fronting on a desirable street. I think the value would be about the same per SF as the one next to me on the same street. The developer thinks that they overpaid for that, and therefore wants me to lower my price to reflect other property sales that are in another zoning area but which are similar, as they were bought for the land value. The developer is a charity that I support, however, I still want to establish a fair price. Other properties in the area that are for sale are asking a lot more than what the developer paid for properties for this project. They are not sold yet, but my realtor feels that they are sensibly priced. I think that whatever price my neighbors sold for reflects or sets the value, is. Am I missing something? 

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