[Updated as of 23-Sep-2014]
I was introduced and approached to sell one of the lots some time in May-2013 by Mr Andrew Goh(not his real name) after met him in one of the motivational course in Jan-2013. I believe he'd meticulousely gone through my profiles before deciding to ask me to do the sale.
As the land has been floating in real estate market for awhile, I'm using the concept of non-analysis paralysis. I've managed to secure an offer letter stating that buyer has interest to purchase at RM700 per square foot(psf) for Mr Andrew Goh's lot during the exclusivity of three months timeframe. The offer price was based on Comparative Market Analysis(CMA) report covered that area and zoning. With hindsight not surprisingly the offer was rejected through his lawyer. Well, the owner is asking for future price of RM1,100 psf and above and again he is not fixing the asking price. To this point, I was wondering how am I going to close “an insatiable appetite” deal.
A friend of mine who works with reputable developer requested all relevant data on Mr Andrew Goh's lot been sent to him for feasibility study prior to any purchase. He came back to me with proposal on keenness to acquire three lots together rather than lot-by-lot. Till now I only mentioned about Mr Andrew Goh's lot. In reality and physically there're another two lots adjoining which are on the left hand side of his lot.
Roulette wheel: This is where the method of selling getting more interesting with three lots on the wheel. The complexity is which lot to sell first.
The largest lot among the three is Mr Andrew Goh's lot. His lot having the frontage of small road and major road but the address is mentioning small road. The other two lots with one having small road frontage and another lot having major road frontage. The lot facing small road is belonging to one owner(for simplicity called Mr X) and the lot that facing main road is under the trustee holding and the title comes under a registered company(for simplicity called Trustee Y). Any one of the lots been sold, the other two lots' pricing will increase.
Question: Which one ought to sell first?
To be continue...
