Newbie Question: Best strategy to sell this high end "tear down"

[Alex Cotter]

Hello,

I am selling a property, that is a either a tear down or 100% renovation in a high end neighborhood. Here are the general stats:

 - Land Value: $1.3M

 - Property value: $250k

 - SQ Footage: 3500

 - General price per square footage in the neighborhood: ~$700

 - This house at like new condition rough value: 3500*750 = $2.6M

I am considering working with an agent. Its August and well past the spring market. We are in the Northeast and winter is an issue for construction.

To maximize the sales price of this house, we could a) work with an agent or b) sell to a builder. Seller financing is an option. I personally feel too much money is left behind with an agent and time of year.

What would you do in my situation? Thanks!

Alex

[Brian Gibbons]

@Alex Cotter

Dont sell, 

• Joint venture with a builder,
• tear it down,
• build your new property,
• dont pay back builder materials and labor (he carries) until resale.
• Give return 30% but monthly (2.5% per month); If the materials and labor are only 6 months, pay 2.5% x 6.
• Go to REIAs to find builder.  https://search.yahoo.com/yhs/search?p=REIA+connect...
• Contact @Paul Timmins for the builder.
• List the house in April 2016 with top realtor in that zip code.