Buying or Selling a Home/sellling

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Question
I have been approached to see if I would be interested in selling my home last month via by a letter in the mail.  I responded yes if the price is right.

The company is well known and they want to develop it for commercial use, I am the last house on a finger of town ship, I am surrounded by Commercial property.

This would be the fourth time in the past ten years that I have been approached, the last three times the deals never even got started due to the economy.

The company that has approached me has been doing a lot of testing on other property that is zoned for commercial, and even has gone as far as submitting construction plans which were just approved by the city.

So my question is this if my home is assessed for 115,000 on the tax role, what should I bee asking for, I told them to give me a price, I did not want to give them a price when they asked me.

Thanks

Answer
Hello Jeff - The only way to determine your property;s value is to ask a REALTOR who specializes in your area to provide you with a comparative market analysis. This analysis will provide you with a report of like properties in the 'finger' or area, and compare the purchase, sale, and other pricing data that will assist you in determining the correct price point. In addition, you may want to talk to a commercial person who have commercial property for sale near your property. This will also provide you with a commercial value which should be taken into consideration as well. Many sellers own property which abut commercial property and many times the combined value of the dirt (multiple adjacent property owners) exceeds the value of the collective home values. You may desire to talk to other property owners surrounding your home to see if there is a higher asking value working together since the buyer may need the collective properties to achieve their intention. Finally, in some states, where attorneys work with sellers to structure the documentation, you may consider searching for recent sales on Google to see which attorneys represented the land sellers and contact that specific attorney to share what they can, or even represent you. They will ensure that you get your value and also their fees in addition. If you should need additional information please reply to this post.

Buying or Selling a Home

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Todd C. Menard, GRI, rCRMS, REALTOR, BROKER

Expertise

National Association of Realtors Code of Ethics and Professional Standards * Contract Questions: Arizona Real Estate Purchase Contract, Exclusive Buyer Broker Contracts, Listing Contracts and associated contract documentation (addenda) as it relates to boilerplate, covenants, contingencies, procedures and procedures. * ARMLS Arizona Regional Multiple Listing questions * Real Estate Professional Standards and Practices, Ethics, Obligations, Duties * Agency relationships in Arizona, Procurring Cause * Questions typicaly arising during the listing period * Questions typically arising during the escrow period * Questions about working with a real estate agent/REALTOR * Questions Related to New Home Builders

Experience

National Association of REALTORS Board of Director (2011, 2012) Arizona Real Estate Salesperson License (1991-1995), Arizona Real Estate Brokers License (1995-Present), Arizona Association of REALTORS Board of Directors (2008-2013), Arizona Association of REALTORS Professional Standards Committee (2008-2012), AAR Certified NAR Code of Ethics and Professional Standards Instructor, Southeast Valley Regional Association of REALTORS President (2012) Southeast Valley Regional Association of REALTORS Board of Directors (2008-2013), Southeast Valley Regional Association of REALTORS Grievance Committee Chairperson (1998-2007), Southeast Valley Regional Association of REALTORS Bylaws Committee (2008-2010), Southeast Valley Regional Association of REALTORS Education Committee (2007-09), Arizona Association of REALTORS Forms Committee - Residential Purchase Contract (2005), Arizona Association of REALTORS Forms Committee - Residential Rental Agreement (2008), Arizona Association of REALTORS Forms Committee - Buyer Broker Agreement (2009), Arizona Association of REALTORS Presidents Advisory Group, Road to Professionalism (2009), Arizona Association of REALTORS GRI Curriculum Review Committee (2009), Arizona Department of Real Estate, Commissioner's Education Advisory Group Sub-Panel B (2010) Arizona Department of Real Estate, Commissioner's Statute and License Review Committee (2007)

Organizations
National Association of REALTORS, Arizona Association of REALTORS, Arizona Real Estate Educators Association (AZREEA), Arizona Regional Multiple Listing System (ARMLS), American Notary Association, Southeast Valley Regional Association of REALTORS (SEVRAR), Southeast Valley Regional Association of REALTORS Women's Council of REALTORS (2010-Present), Phoenix Association of REALTORS (1994-2000, 2005-2009), Scottsdale Association of REALTORS (1994-2000, 2005-2009), Maricopa/Glendale Association of REALTORS (1994-2000, 2005-2009),

Publications
"Real Estate in 2008"- Lifebushido Publishing (Contributory Author), Southeast Valley Regional Association of REALTORS "SEVRAR Magazine", Internet Crusade, RealTown ListServe, Blogger.com, Active Rain

Education/Credentials
- Certified NAR Code of Ethics and Professional Standards Instructor, Graduate REALTOR Institute (1993), Certified Negotiation Expert (CNE), Over 100 Hours of annual real estate continuing education, Annual Ethics and Professional Standards Development Workshops as required by the National Association of REALTORS, Approx. 36 hours of NAR Code of Ethics training annually, Numerous IDW, Seminars and Train the Trainer programs, Business Management Degree - 1981

Awards and Honors
2009 REALTOR of the Year Award, Southeast Valley Regional Association of REALTORS (10,000+ Members), Double Platinum Production Award ($45,000,000 Sales Volume)- Keller Williams Realty Int'l (2001), Top 15 Sales Production Keller Williams Realty International (2001), Top 5 Sales Producation Keller Williams Realty Southwest Region (2001), Top Recruiter Award - Keller Williams Realty Int'l, SW Region (2002), Who's Who in U.S. Executive (1983), Who's Who in U.S. Real Estate Professionals (2007)

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