My clients reached out with one priority: Make the transaction as smooth as possible for their elderly parents that lived in the property, while netting the most walk-away dollars. The owners/parents bought the property with their savings 20+ years ago. This was their American Dream. Due to unfortunate circumstances, they were now dealing with squatters in the basement, and a long-term tenant on the 1st floor that wasn’t super excited to relocate from a super low rent.
I immediately got to work, recognizing that the only way we would net the highest dollar amount is if we guaranteed vacant delivery at closing. Once my clients retained me, I began communicating with the 1st floor tenants, who were aware of a potential sale, and worked with them over the coming months to find a suitable apartment. Squatters in the basement were approached with undue & extreme kindness, logical reasoning, and multiple visits, to find an amicable solution that worked for all parties :).
Within the first few weeks of going live, we locked in a pair of buyers represented by great brokers who understood the scenario and flexibility needed (given the tenants). We pushed towards the closing timeline and were able to successfully negotiate a tenant buyout to ensure all units were delivered vacant prior to closing day...while netting my clients $60k+ above asking price!
