What is the name of your state? Georgia home owner
My neighborhood has been approached by a realtor working with land brokers (not developers) to purchase all of our homes. We all have nearly an acre of land, there are 47 homes and no homeowners association. Our homes were all built in the late 70’s and for our area are relatively inexpensive (185-210k avg market value) They are interested because of futures in our area of high end hotels (Ritz Carlton) and high end shopping as well as an open air theatre proposal that all will be within walking distance of our homes.
They want to sell to a developer for rezoning to residential 10 units per acre. We are currently zoned for 3.7 units per acre.
So...
Should we form a HOA? Should we get together to negotiate? Are we better off negotiating individually? With a realtor or Attorney? What sort of offer can we expect? Is over 100% unrealistic? (Considering they’ll make Millions) Anyone have any experience with this?
Any response would be appreciated.
My neighborhood has been approached by a realtor working with land brokers (not developers) to purchase all of our homes. We all have nearly an acre of land, there are 47 homes and no homeowners association. Our homes were all built in the late 70’s and for our area are relatively inexpensive (185-210k avg market value) They are interested because of futures in our area of high end hotels (Ritz Carlton) and high end shopping as well as an open air theatre proposal that all will be within walking distance of our homes.
They want to sell to a developer for rezoning to residential 10 units per acre. We are currently zoned for 3.7 units per acre.
So...
Should we form a HOA? Should we get together to negotiate? Are we better off negotiating individually? With a realtor or Attorney? What sort of offer can we expect? Is over 100% unrealistic? (Considering they’ll make Millions) Anyone have any experience with this?
Any response would be appreciated.