Selling Two Identical Buildings Separated by a Courtyard Separately

[Jordan F.]

Hi there.  We are trying to sell two identical buildings separated by an enclosed courtyard.  It looks like a single complex but it is actually two different parcels.  We listed both buildings in a single listing to sell together,  but after a few months and no dice, we decided to list them separately at a lower price.  We lowered the price a second time and now have an offer on one building but several agents have told us we should really try to sell them together.  If each building belonged to a different owner, the only thing that they would have to collaborate on is, obviously, the courtyard (gardening, each side has it's own sprinkler system) , the intercom (about $120/month for the phone line), and the parking area (needs resurfacing).  Our current agent is the only agent who has suggested that we try to sell them separately since selling them together didn't appear to work.

On the other hand, maybe prospective buyers are waiting to see how much lending rates decline in the next few months and what happens with the Costa-Hawkins proposition on CA ballots this November.  What would you do?

[Rick Albert]

My point still stands. From a buyer's perspective, I don't think I want to go into business with someone who I don't know. What if the other owner is cheap and doesn't want to touch the parking structure? What if they want to work with a different property manager?