Not sure what the price of this property is, but this is why you should use an attorney/realtor/closing agent to assist. 

Readers should seek professional advice.

If and when they sell, they have to move somewhere (about 72%, the rest rents, goes into assisted living or moves in with family), so inventory-wise wise it's for the most part a wash.The only way you can see the supply/demand situation change is if a market (the US or a metro area) loses a significant percentage of the population (like a pandemic or nuclear incident) or we catch up building 3-5 million homes (surplus of normal), with tales the better part of a decade if we can even find the labor.

I realize that my full background was not stated well prior to seeking help and apologize.

Readers should seek professional advice.

**Tenant Considerations:**If the property is currently occupied, you'll need to notify the tenants and possibly provide them with the right of first refusal or relocation assistance, depending on local laws.### Additional Tips:- Conduct a market assessment to ensure this conversion makes financial sense.

Some land flippers will buy unwanted and neglected parcels of raw land for a bargain and then improve them by clearing the land or even leveling it before selling it on.Most land flippers are making money by actively seeking and marketing their land flip projects.

Meanwhile our litigation system favors seeking cooperation from insurance carriers but that in itself is a whole other subject. 

Readers should seek professional advice.

Readers should seek professional advice.