Experienced Advice for Land Assembly Sellers and Buyers
Michelle Yu and her team of real estate professionals understand that real estate sales and purchases are not just a transaction, but play an important role in achieving personal, financial and life goals.
We are committed to helping our clients achieve the best value for their real estate sale or purchase, while providing confidential, professional and experienced counsel and guidance to ensure they are fully informed about these important transactions.
Michelle has over 20 years’ experience in residential real estate and more than five in land assembly transactions. She and her team are highly experienced in helping clients with simple and complex sales and purchases.
Land assembly can be very profitable and create higher real estate returns than individual property sales. Like other investments, they also carry inherent risks and are more complex as compared to individual real estate transactions, warranting unique and careful consideration.
We ensure our clients understand these unique considerations by reviewing them with them upfront and again as they consider related offers and contracts.
The central and most important advice we offer is that clients should review all documents and contracts with their lawyer to ensure they fully understand the agreement before they sign. This can’t be overstated.
Following are a few of the other key things to keep in mind when considering a land assembly listing:
- Longer timeframe – Land assembly listings, transactions and closings typically take considerably longer than individual sales. This allows time to find the right buyer, for various conditions to be met and plans to be developed. The key dates will be clearly stated in related contracts, and it’s important to understand those dates and what they mean, and that you’re willing to abide by them over time. Contracts can’t be undone easily, and often not at all.
- Market risk – Real estate markets and property values will continue to go up and down after you sign a contract. Like many high-yield financial transactions, higher reward brings higher risk. It’s important you consider this before entering into an agreement and are prepared to “ride out” the market cycles and adhere to the dates in your contract.
- Financial advice – It is important to fully understanding the financial implications—both benefits and risks—of your specific situation, including short-term financial implications and future investments.
- Shared and equal commitment – Land assembly transactions require participation and commitment of all parties. Property owners in a shared land assembly listing are essentially shareholders or partners in a transaction. Each most be fully and equally committed for a successful experience and conclusion. If one “partner” decides to try to renege on the agreement, it will have implications for all the other parties.
Land assembly sales can help homeowners achieve significantly increased value for their properties, and realize their dreams. They can also cause stress, uncertainty and disappointment if not fully understood.
Michelle Yu and her experienced team of real estate professionals will help guide you through the complex and unique considerations related to land assemblies.