CAN I MARKET TO SELL A PROPERTY THAT IS NOT UNDER CONTRACT OR OWNED BY ME BUT THE SELLER WANTS TO SELL IT…THE SELLER TOLD ME THAT I BETTER HURRY BECAUSE THEY ARE GOING TO TEAR IT DOWN IN THE NEXT 3WEEKS…THIS IS A 156,700 SQF OFFICE HIGHRISE IN THE HEART OF DOWNTOWN PHX…THEY WANT $46M BUT PRICE IS NEGOCIABLE…I’M THINK I CAN GET IT FOR ABOUT $30M AND IT NEEDS ABOUT $5M IN REPAIRS…IT HAS BEEN VACANT FOR ABOUT 1YR…I KNOW IF IT IS FIXED UP COMPANIES WOULD WANT THE OFFICE SPACE BECAUSE OF THE LOCATION…I KNOW IT WOULD WORK…IT WOULD BRING JOBS BACK TO THE COMMUNITY AS WELL AS MONEY…I WANT TO ADVERTISE IT TO INVESTORS IN DIFFERENT STATES…IS THIS POSSIBLE OF SHOULD I STOP IN MY TRACKS…
You just need to get it in writing that you have the right to market the property prior to transfer.
Sell or tear it down??? Who’s going to tear it down, the seller, or the city? How would selling the property save it from getting torn down? Also, you need to check that you don’t need a real estate license to help market and sell real estate. Just be careful.
You don’t need to market that specific property. Just market it by criteria, for example: 3/2 available in such and such area owner motivated. blah blah blah get the picture. There is no law that says you can’t obtain a buyer’s list. This will give you a jump start on your game plan. Good luck
With a large investment like that, you better get a contract written out. In addition, I would also recommend talking to a real estate lawyer that is local to the area of the office building to help you out with the contract.