How do I negotiate with developer who wants to buy my house?

**Twothousandnie** · 03-23-2009, 01:13 PM

A developer who owns the property next door to mine asked me to call him if i ever decide to sell, because he wants to make an offer on my house. He said he wants to join the 2 properties and build condos. He also told me he needs my property for this project. He does not want to go through a real estate agent, and neither do I, to be honest. I'd rather just agree on a price and have my lawyer draw up my side of the paperwork and make sure things are what they should be.

I'm just a regular person, without any real estate experience - how in the world do i negotiate with a developer?? I'm not greedy, but I do want a good price - only I don't know what that is or how to figure it out, esp in this economy?

Any input or help from the experts?...

**FredHollandRealty** · 03-23-2009, 06:26 PM

Well if you are not willing to work with a Realtor, then you need to establish a value for your property. That can be done by hiring an appraisar or running a competitive market anaylsis. Once you have a value that you and the buyer agree upon you then need to draw up a contract and hire an attorney.
CMA- can be Active, Contingent and Solds in your neighborhood in the last 6 months. The best comparison to use is Sold's only. You can search real estate sites in your local area to see the solds or the tax records.

**gjtrafl** · 04-12-2009, 06:40 PM

Obviously we don't know your situation but... Keep in mind that the developer's opinion of the value of your property will probably be primarily the land value. Is your home older to the point that it would be more suitable and profitable to be leveled?

I just think that often, your financial needs for the home will be very different than his expectations of value. Find your price and stick with it.

**Greg** · 04-13-2009, 05:00 AM

Get at least 2 appraisals done to find out what the current market value is. Don't use the appraisal provided by the developer. He probably has an appraiser in his pocket ready to provide a low price.

**realestate.spain** · 04-16-2009, 03:38 AM

I would suggest you not to go to a developer, instead you can try finding out the value with the help of other sources like newspapers, internet, agents etc.

This would help you to find the approximate value of your house which would neither be a loss to both the buyer and the seller.

Best wishes in your negotiation!