Is your current situaion meeting your investment expectations?
Lots and lots of investors purchased in 2008, 2009 and 2010 and are holding the property in a rental status. They have good cash flow and expect significant profit when/if sold in 5 to 7 years.
Only you know the quality of your investment and the exit thresholds in place.
Clearly, a major issue is the market value of your investment.
What are the future risks created by local concerns, regional concern and of course flood insurance issues.
What is the trajectory of property values in that area?
What are the opportunity costs you will incurr?
Now it's time to have a meet up with folks who help owners sell dozens of homes a year. Their experience and knowledge of the local market will prove essential. You really need someone on your side who can sort fact from fiction.
Be aware, when someone wants to buy a home that not for sale, they need to realize that opportunity has a cost. Don't believe ANYTHING until it appears in writing. Don't negotiate with yourself. Get an offer in WRITING. If it not in writing it is NOT A PURCHASE OFFER.
Respond to agent, "Show me what you've got." No paper to show you should tell you everything you need to know.
Best of success.
I would be honored to have the opportunity, and am easily reached on my cell at 856.371.8608.
Good Luck and I hope to hear from you!
Cautiously. There are 3 possibilities; 1. The agent is telling the truth and has a possible buyer at a reasonable price 2. The agent has a buyer at a very low price. 3. The agent doesnâ€™t have a buyer but is fishing for listing opportunities.
In any of these cases, you need someone on your side. This agent has stated they represent someone else, so you already know they do not represent you. Talk to another agent or two preferably quality agents with recent experience in your area with similar properties. Get their opinions of the value your properties have now based on current use and zoning and decide if you seriously want to consider selling.
If you do, hire one of the agents to represent you. Agents bring value to a transaction through market knowledge, experience and training. You will net a higher bottom line for having someone in your corner looking out for you. Best of luck.