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Buyer is Interested |
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My mother has received a couple of increasing offers from a real estate buyer on her residential property. The same has taken place with her neighbors, with some already closed on the sale of their homes/land. Much of the property around her has been rezoned commercial, and we know that is why the buyer is interested in the land in that area. In light of the fact that her real estate is likely to be used for commercial purposes, how does that affect her asking price? Or does she have to price assuming it will remain residential? |
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This question is a good one for a qualified real estate appraiser, and that's the person for your mother to consult at this point. She can explain that she doesn't need an elaborate written appraisal, just some advice, and ask ahead of time what it will cost. |
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Edith
Originally published on November 10, 2007 |
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