I am looking for advice on dealing with a developer who is keen to buy my investment unit. I bought at the peak, and the value of the unit has dropped. Is there a way to work out what price I should be getting? What factors should I be taking into account?
Thanks in advance.
Developer or renovator?
What do you think they would do with your unit that will significantly increase its value? Could you do this instead and then sell?
He is looking to purchase it to amalgamate the land. This is out of
my scope. I bought the unit for development, however, I am finding it difficult to negotiate with the developer.
I want the best outcome, but I am unsure of how to gauge a fair price. The price he Is offering is above what I cold get
on the open market, however, the open market doesn’t take into account zoning and development.
Thanks in advance.What sort of devt potential does one unit in isolation have ? Is he negotiating with all of the other unit owners ?
Either speak to a local real estate agent or engage a valuer.
He is speaking to all unit owners, in addition to neighbourIng houses. This will allow them
to build a unit block with ocean views. The area is zoned rd6. I don’t want to walk away
without enough to cover the deposit and costs of buying another property.
I will definately speak with a valuer. Thanks.
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