Sell a distressed asset in the middle of a global pandemic.
That sounds difficult, if not downright foolish, right? But Andrew Battersby and his client proved it to be exactly otherwise.
The owner of the former Westlyn Manor Apartments in Pontiac asked Andrew to sell his property—a thirty-unit building built in 1930 and vacant since early 2017. Knowing his market and his network, Andrew quickly contacted an area investor who owns several hundred apartment units in Pontiac. At the same time, he put other marketing strategies in motion.
Not only did Andrew’s first contact make a full-price offer. Within the same 30 days his marketing efforts brought in two more offers, one at full price and the other $25,000 above asking price. The owner chose the first offer, since that buyer waived due diligence up front and was able to close in less than 30 days.
Renovations on the historic building will commence immediately with new residents expected to move in by the end of 2020.
Even in the middle of a global pandemic, a broker who knows his market and its investors can bring an asset to a very satisfying close. To discuss how that satisfying transaction could be yours, contact Andrew Battersby today.
