All Forum Posts by: Audrey Fisch

The offer actually specified that the property be delivered vacant - which isn't possible. 

Ok well it seems my dad is just leaning towards selling now. What I was wondering is if there is for example any website for commercial comps. Thanks to all those who responded and offered to help, but I don't want to waste anyone's time further at this point. (Your perspectives have definitely been helpful though. I should have tried this long ago and maybe I could've turned this around. Next time!)

Thank you for your responses. I don't think I can pm people? but I'll email those of you with contact info.

I'm actually writing this for my dad, also my first post so apologies if in wrong section, etc.

My dad owns a two-unit commercial building in Indianapolis (we live in NJ). He has a manager who was recommended years ago (but more like by someone who knew him rather than had a good experience with him).

One unit has been vacant for two years and had a nonpaying tenant for a year before that. The manager claims he's done everything to rent it and cannot. This may be true, I don't know.

Now he's told my dad someone has made an offer to buy the property and he's recommending my dad accept it. My dad doesn't really want to sell but at present is basically only breaking even.

My question here is twofold: First, how to obtain confirmation that the offer is good (independent of his manager, who seems invested in the deal)? Secondly, whom could we consult regarding the rentability of the property, so that we could make a more informed decision whether to sell? My dad is not enthused at the prospect of changing managers but would consider it.

Thank you in advance for any thoughts.

I've bought a couple of houses from XOME.com, formerly homesearch.com (you could search that too). It's my favorite of the various auction sites I've dealt with. For one thing, it's the only one (in my experience of course) that my winning bid is actually the price I pay, even when it's below the reserve.

Other sites I've tried are auction.com, williamsandwilliams.com, hudsonandmarshall.com and hubzu.com. Of these, hubzu and xome are the only ones I was ever able to actually purchase on. With hubzu, every time I bought I had to accept a counteroffer which was higher than my "winning" bid.

I'd imaging you will find xome's process pretty straightforward, especially if you're a realtor. You will need to submit proof of funds after accepting the contract (at least for cash deals). As per the site, they can use an "auctioneer" to bid up the prices themselves, and at least once I was contacted after losing and was offered the property at the last price I bid.

Hope that helps!