I wasn't sure where to post this.
The owners in our strata complex have been approached by a developer
interested in purchasing the property to build apartments, maximum of 15 levels. There are OPT developments going up all around us.
Some owners have suggested to "sell" to the developer and in return
the developer to give them a brand new unit, once built, in lieu of cash.
I have never heard of this. Can this be done? Has it ever been done?
I say, just sell (for the right price), get the cash and invest elsewhere else?
Does anyone have any information on this type of scenario?
The owners in our strata complex have been approached by a developer
interested in purchasing the property to build apartments, maximum of 15 levels. There are OPT developments going up all around us.
Some owners have suggested to "sell" to the developer and in return
the developer to give them a brand new unit, once built, in lieu of cash.
I have never heard of this. Can this be done? Has it ever been done?
I say, just sell (for the right price), get the cash and invest elsewhere else?
Does anyone have any information on this type of scenario?