I am wanting to track down the owners of the neighboring property to mine as I would like to consider a possible redevelopment with the two properties. I am not sure what would be the most appropriate way of pursuing this. According to my tenants, a man lives there but does not really interact with anyone - he does`nt even answer the door.
I pulled a title search on the property and found that there are two names on the title.
Just wondering if anyone else has attempted something like this before and what advice you may have for me.
Thanks in advance.
Vicki
First you`ll want to find out if the man living there is a tenant or one of the owners. You want to speak directly with the owners on something like this.
Once you track down the owners (name search on whitepages.ca or even a private eye if you really want to move this along) you need to have your ducks in a row in terms of what you want to do and what you can offer them. Confidence will be key here.
Some quick questions you`ll want answers to before meeting:
- Are you going to buy them out or do you need them to work with you on the redevelopment? In either instance what is expected of them?
- Can you actually do what you want to do with the property? Have you checked with the city on the development plans for the area? Many interesting lots have special zoning restrictions on them!
- What`s in it for the current owners? What can you offer them that will give them a better deal than simply plunking a sign out front and waiting for an offer, which would be their most obvious alternative?
- How are you going to ease their concerns about your ability to pull it off? If you are experienced with redevelopment then you`ll want to upsell that. If you aren`t you`ll need to be very prepared or be partnered with people that can fill in the gaps of the required skill set.
Good luck!
QUOTE (VHMay @ Jun 9 2008, 10:06 AM) I am wanting to track down the owners of the neighboring property to mine as I would like to consider a possible redevelopment with the two properties. I am not sure what would be the most appropriate way of pursuing this. According to my tenants, a man lives there but does not really interact with anyone - he does`nt even answer the door.
I pulled a title search on the property and found that there are two names on the title.
Just wondering if anyone else has attempted something like this before and what advice you may have for me.
Thanks in advance.
Vicki
