Home Selling in Garner>Question Details

Frustrated H…, Home Seller in Garner, NC

how do I find an investor to purchase my home which is considered as small residental income property.?

Asked by Frustrated Home Owner, Garner, NC Mon Jun 7, 2010

I've been trying to sell my home for the last 5 years. With and without a residental real estate agent and, all to no avail. No! The price is not to high. Since, I'm only asking &300.00 more than what I've been tax asessed two years ago. And, I'm including appliances and beauty shop equipment in the price too. I've been thinking of trying to list with a commerical agent however, my concerns are---where would that commerical agent list it.? And/or where would a person looking for a home (such as mine) with an attached business be able to veiw it If they're not an investor? Example: At which website?

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3
Manu Kapoor’s answer
Hire a real estate broker/agent as 82% of For Sale By Owner's end up being sold by realtors. They do their job the best & get you more money also.
If u did not start do start interviewing realtors to sell your property as you already worked for 5 years on selling it.
http://www.loopnet.com is a very good source for commercial real estate nationwide.
Good Luck
0 votes Thank Flag Link Sun Jun 13, 2010
Kelly is right on with regards to tax value and market value. In fact, unfortunately, in Garner, tax value tends to be higher than actual market value. If you price right below tax value, you are too high, even with all the beauty equipment thrown in. Think about it... even if tax value had something to do with market value, prices have fallen considerably since when your home was assessed 2 years ago. Mine too!

Not all commercial agents list on the 'standard' MLS. Many list on TCAR or Loopnet. Others use the good ol boy network. If your home is in a standard residential area, a place where normal commercial investors do not look, then a commercial agent may not do you any better.

As much as it hurts, there is a price out there for someone. But that would mean re-evaluating your asking price. I would recommend that.

Good luck.
Web Reference: http://www.drewludlow.com
0 votes Thank Flag Link Mon Jun 7, 2010
Commercial brokers have their own MLS that they work through and will also list in on the standard MLS under Commercial Property, usually. Serious investors may approach them directly about properties that they have available and commercial brokerage companies also will have the ability to search their company websites. Your property can only be listed as commercial real estate if it is deemed so in its zoning.
Also, just as a side note, tax value has absolutely nothing to do with market value. This is not how appraisers or real estate agents or buyers assess the value of home and it is used solely by the county to determine what you owe them in property taxes, nothing more.

Kind Regards,

Kelly Smith
Web Reference: http://www.WRCASold.com
0 votes Thank Flag Link Mon Jun 7, 2010
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