Do you own a property in Seattle that may be of value to a builder? Properties in both single-family and multi-family zones (such as LR1, LR2, LR3, MR, and RSL zoning) are in high demand, yet for an owner who might be thinking about selling, it can be challenging to know where to begin. Here’s how we can help:
Through a careful analysis of your specific property and taking the time to understand the dynamics of your lot, we will help you understand what development approach would yield the highest and best use – and therefore the likely highest value – whether it be by adding density around an existing structure, a complete redevelopment, or perhaps we find that the property is already at its highest and best use – either way, this information helps you yield the best outcome when you’re ready to sell.
We partner with reputable builders and developers who have a deep understanding of local land use code, current construction metrics, and the permitting process. This ensures that they know what they’re buying before entering into an agreement to purchase the property, which in turn saves you from wasting time dealing with a failed sale. Once we’ve determined what the highest and best use of your property is, we can quickly match your unique opportunity with the right buyer and bring you an offer to review.
Regardless of its current condition, you won’t need to invest any time or money into your property prior to closing. Plus, our clients pay cash, ensuring you a secure transaction that provides you with your sale proceeds upon closing. Our team will manage the transaction from start to finish and keep you in the loop every step of the way.
With over 30 years combined experience working alongside homeowners and builders alike, we’ve built a reputation among the community that is rooted in trust, integrity and transparency. When you engage with our team, you can rest assured that you are receiving factual and straightforward information. Regardless of where you’re at in the process, we welcome the opportunity to answer any questions you might have.
Have Questions but Not Quite Ready to Get Started? Visit Our FAQ
We are dedicated to making the sales process as straightforward and transparent as possible. Here’s what you can expect when selling to one of our builders:
After your initial phone call with our land acquisition team, we’ll conduct an in-depth analysis of your property up front – looking closely at zoning, lot dimensions, topography, as well as the relationship between the existing home and the land to determine what type of infill project would be the highest and best use of the property for development. It is important to note that “highest and best use” doesn’t always mean a complete teardown or redevelopment.
Once our team has determined the type of development project that would be a good fit for your property, we will evaluate our extensive list of builder clients to determine which would be best suited to build the type of project in question and has the means and ability to make you an offer that aligns most closely with your stated goals and timeline.
Once we have identified a builder who is the right fit to develop the property, we will work with our client to craft a purchase and sale agreement, which details the builder’s offered sales price and terms, and present that written offer to you for formal consideration.
Once an agreement between you and our builder client has been successfully negotiated, our team will track all critical timelines of the transaction and maintain open communication with you and all other parties involved like title and escrow.
The due diligence period – or feasibility contingency – begins once mutual agreement is reached. This time period allows for our builder to conduct any necessary inspections specific to your property, which may include surveys, tree assessments, geotechnical inspections, soil sampling, sewer line inspections, and other consultant reviews dependent on the specifics of your property. Other due diligence tasks that a builder may need to complete include a review of any leases and the title reports.
Once you’ve reached an agreement with the builder and they have completed their due diligence period, they will deposit earnest money into an escrow account per the terms of the agreement. This deposit is generally considered to be non-refundable and, in some instances, can even be transferred to you as an initial deposit ahead of closing. Under any scenario, it will be applied towards the sales price and ultimately your net proceeds.
Since our clients pay cash, we don’t have to wait for appraisals and loan approvals to come through before closing, which expedites the process once the other contingencies and terms of the deal have been fulfilled. Approximately 2-3 days before the contractual closing date, you will review and sign your closing documents. On the day of closing, title will be transferred, your net proceeds will be paid, and your sale is officially complete!
Below are some of the local infill builders that we work with regularly:
What does infill development mean?
Infill development is a term that refers to building on unused and/or underutilized land, typically in urban areas, within existing development patterns.
Who does Wilcynski Partners represent in the process?
Our team has an agency relationship with the builder/buyer in the transaction.
Can I have my own agent representation?
Absolutely. If you would like to retain your own representation, we are more than happy to work with you through them.
How is the offer price determined?
Our builder clients generally consider two primary factors when determining an offer price – market value based on sales of comparable properties and the potential value of the “highest and best use” development approach. Other factors that will influence the price they are willing to pay for a specific property include the zoning, lot size, site complexity, permitting timelines, current market conditions, and more. Lastly, the desired closing timeline can have a measurable impact on the price.
How long does it take for my sale to close?
The closing timeline can be tailored to meet your needs and objectives! Our builder clients can close very quickly if needed, or we can structure a deal that doesn’t close for a year or more – or anywhere in between. The closing timeline is a key factor that will be considered when determining an offer price for your property.
Do I have to pay real estate brokerage compensation if selling “off market”?
Compensation for our team and the work that we do is paid for by our builder clients on unlisted sales. If your property is unlisted and you choose to bring in your own agent representation, how that broker is compensated is between you and your agent.
When will I get my proceeds?
Your net proceeds from the sale are yours as soon as title is transferred and closing numbers are received by the escrow company. Oftentimes due to the timing of receiving the final recording numbers and wire transfer cutoff times, your proceeds will arrive in your bank account the next business day.
LET’S GET STARTED!
Complete the form below and our land acquisition team will be in touch to schedule a no-obligation review of your property:
