Sell to the HRA?

[Erik Stewart]

Hello!

I own a small, old house on a HUGE double lot in a small town of 2000 people. I was approached by the Housing and Re-development Authority in my home town where I had bought the house 5 years ago for $25,000. I have been renting it for $400/month. They told me there was a retired couple wanting to demolish my house and build new there. I am unfamiliar with their process and would like some friendly advice!

My question is:

What are the benefits/drawbacks of selling to the HRA vs selling it via traditional routes?

Will the HRA offer more/less for the property and why?

Thanks in advance!

Erik