Though the market for land zoned for residential development in Novi is strong, particular parcels often present complications. That’s when brokers skilled in both marketing and building relationships are crucial to a successful transaction.
Duke Company brokers Mark Szerlag and Blake Macek were entrusted with the sale of 11 acres of vacant land on Taft Road just north of 10 Mile Road—an excellent location in a strong market. The complication? Wetlands in the middle of the acreage limited the number of homes that could be built on the property.
With their knowledge of the market and marketing expertise, Mark and Blake secured a buyer and presented their client with a purchase agreement within 3 months of listing. But the limitation on home density in the wetlands portion soon bogged down the agreement. The buyer haggled. The seller dug in.
Mark and Blake set to work navigating the murky communication. They helped both buyer and seller understand what, for environmental and zoning reasons, was possible and therefore what was a reasonable price. Thanks to the trust they earned from both parties, the sale closed happily at more than $70,000 per acre.
Thinking about selling your property, or just interested to know what price it might command? Mark and Blake would be pleased to help. Call them at 248-476-3700.
