Selling a large parcel of commercial land - differences to a residential sale?

Discussion in 'The Buying & Selling Process' started by jaybean, 4th May, 2021.

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  1. jaybean

    jaybean Well-Known Member

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    Half a dozen shareholders (father and his sibblings), commercially zoned (Brisbane), roughly 2 acres I think. Next door to a shopping center.

    Only one of them has any sort of RE experience and even then it has all been residential. The rest are completely clueless. They have all made their fair share of epic...EPIC real estate-related mistakes before. However this being said, I am trying to keep at arms length about this. I am currently not providing my advice or asking too many questions. It's not my money after all so other than making sure they aren't making any colossal mistakes, I'm trying my best to avoid getting involved.

    All I'm trying to figure out is what are the biggest types of mistakes that can be made here, particularly in terms of the types of people to engage? Right now they're treating it like a regular sale - they have an agent putting it out to tender...and that's it. But I'm thinking there should be more to it? Are there special lawyers, conveyances, financial strategists that they should probably talk to? Or is it really just handled much like any ordinary residential IP sale?

    Other than saying "these are the types of people you should talk to", that will probably be the extent of my involvement.
     
    Last edited: 4th May, 2021
  2. The Y-man

    The Y-man Moderator Staff Member

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    So it's just land - nothing on it right?

    The Y-man
     
  3. jaybean

    jaybean Well-Known Member

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    Yup that's right it's just the land.