 parking spot sale (by vc [FL]) Apr 13, 2021 12:00 PM
 parking spot sale (by Allym [NJ]) Apr 13, 2021 12:28 PM
parking spot sale (by plenty [MO]) Apr 13, 2021 2:34 PM
parking spot sale (by Robert J [CA]) Apr 13, 2021 2:52 PM
parking spot sale (by Kevin [FL]) Apr 13, 2021 3:04 PM
parking spot sale (by Landlord ofthe Flies [TX]) Apr 13, 2021 4:24 PM
parking spot sale (by DJ [VA]) Apr 13, 2021 8:17 PM
parking spot sale (by Robin [WI]) Apr 13, 2021 9:18 PM
parking spot sale (by Steve [MA]) Apr 14, 2021 5:47 AM
parking spot sale (by Allym [NJ]) Apr 14, 2021 8:16 AM
parking spot sale (by Ken [NY]) Apr 14, 2021 9:06 AM
parking spot sale (by Oregon Woodsmoke [ID]) Apr 14, 2021 11:21 AM
parking spot sale (by Oregon Woodsmoke [ID]) Apr 14, 2021 11:25 AM
parking spot sale (by ned [AL]) Apr 15, 2021 3:59 AM
parking spot sale (by Small potatoes [NY]) Apr 15, 2021 8:07 AM
parking spot sale (by Nellie [ME]) Apr 15, 2021 8:55 AM
parking spot sale (by vc [FL]) Posted on: Apr 13, 2021 12:00 PM
Message:
going to try to not make this long winded but I bought a vacation property in florida a few years ago and had another resident reach out to buy my underground assigned parking spot.
a little about the community...60 units ranging from 500k to 1.3 with one assigned underground spot and one lottery spot in the front parking lot and I plan on using it for vacation for a few years until my parents can move in 2025 when they retire.
this lady hates the idea of having to leave her car outside when they travel the world so she offered 20k...I don't think that's nearly enough for the inconvenience and what itll do to my resale down the line and her resale increased value.
any thoughts on this? my realtor said down the line some people may not buy just for the parking reason alone if I give up my one spot forever but if she offers a crazy number I might have to give it up so I can move that money into some more rentals in ny.
sorry it was long winded and thanks for any help(ive already thought about leasing it to her for a few years but she seems very set on buying it) and my other concerns is capital gains and paying taxes on any sale of it --184.74.xxx.xxx |
parking spot sale (by Allym [NJ]) Posted on: Apr 13, 2021 12:28 PM
Message:
I would be concerned with the potential of flooding in a basement garage. I would not put a car in something like that long term. I would not sell it either because it ruins the chance of you getting more for the unit to which it belongs. There are probably places that move and store cars and she could arrange for that and I think she has another angle and I would say NO. More like someone does not want to be seen. Back away slowly. --108.24.xx.xx |
parking spot sale (by plenty [MO]) Posted on: Apr 13, 2021 2:34 PM
Message:
Cant you just lease it to her for a few years ? Must it sell? --172.56.xx.xxx |
parking spot sale (by Robert J [CA]) Posted on: Apr 13, 2021 2:52 PM
Message:
I purchased a rental condo with 2 other partners. A parking spot in the building was going for an extra $10,000 each. I wanted to buy the spot so tenants could have a easy place to park. The condo was going for $160,000. So parking was an extra 6 percent. Partners said, "NO WAY"!
Now some 30 years later, the units are going for $850,000 and a parking spot is $60,000 to $100,000, depending on location.
SO as values rise, so does the value of a parking spot!
On the other hand, I have a property I own myself that has many extra spots. It was built with 2 spots per unit and many of my units only have 1 bedroom. So when renting I only provide a parking spot per bedroom and have extra that I rent out of neighbors for $100 to $250 per month. --47.155.xx.xxx |
parking spot sale (by Kevin [FL]) Posted on: Apr 13, 2021 3:04 PM
Message:
Why would you give up an asset to your property? Rent her this space for some extra spending money. A covered parking space in Florida was a big consideration to renters in my condo. --47.205.xxx.x |
parking spot sale (by Landlord ofthe Flies [TX]) Posted on: Apr 13, 2021 4:24 PM
Message:
The fact that she's willing to pay a fortune for it means that it's something you should never sell. Selling that parking place will probably lower the value of your condo later when you try to sell. Why would anyone want to buy in a place where they can't park?
Lease it to her. You get rent and keep spot. --108.69.xxx.xxx |
parking spot sale (by DJ [VA]) Posted on: Apr 13, 2021 8:17 PM
Message:
If she has declined your offer to lease it, tell her "alright, that's fine. It's not for sale. Best wishes. Let me know if you change your mind."
Then if she contacts you again, rent it for more. --68.229.xxx.xxx |
parking spot sale (by Robin [WI]) Posted on: Apr 13, 2021 9:18 PM
Message:
Doesn't really matter that she's set on buying the spot. What matters is that you don't want to sell it. I agree completely that you really don't want to sell it. Especially at a price that's 4% or less of the value of the property. If it's really about keeping her car garaged while she's gone, she can rent it. She can't make you do what you don't want to do. --104.230.xxx.xx |
parking spot sale (by Steve [MA]) Posted on: Apr 14, 2021 5:47 AM
Message:
A few years a go an inside parking spot on Beacon Hill in Boston sold for $390 K. --71.184.xxx.xx |
parking spot sale (by Allym [NJ]) Posted on: Apr 14, 2021 8:16 AM
Message:
I think she has a fancy boyfriend who doesn't want to be seen. I would also worry about finding police crime scene tape there. Don't sell it. --108.24.xx.xx |
parking spot sale (by Ken [NY]) Posted on: Apr 14, 2021 9:06 AM
Message:
Ally,how do you come to these conclusions? --72.231.xxx.xxx |
parking spot sale (by Oregon Woodsmoke [ID]) Posted on: Apr 14, 2021 11:21 AM
Message:
Are you renting that unit out as a vacation rental when you aren't using it? If so, where are your paying guests supposed to park?
An assigned parking spot in an area where parking is hard to come by isn't something to give up. --76.178.xxx.xxx |
parking spot sale (by Oregon Woodsmoke [ID]) Posted on: Apr 14, 2021 11:25 AM
Message:
Your parents are going to live there? Do you want your parents to have parking hassles?
When I was out of the country long term, my car went to an RV storage yard, where I got a good rate because I paid three years in advance. The owner of the lot picked me up and drove me to my car when I arrived home.
Some of the RV storage places have a few indoor storage bays.
--76.178.xxx.xxx |
parking spot sale (by ned [AL]) Posted on: Apr 15, 2021 3:59 AM
Message:
Ally- I saw the boyfriend. He's not fancy at all! In fact, I'd see he's rather homely. Maybe she's embarrassed of him? I'd quote her $250,000 to buy...or $2500/year to lease --24.29.xx.xx |
parking spot sale (by Small potatoes [NY]) Posted on: Apr 15, 2021 8:07 AM
Message:
Why would you want to buy more in NY, esp right now? If it were me I'd keep the spot w the unit and let the pushy lady look elsewhere. If you do decide to sell them open it up to everyone. In sure others have the same desire they just are not overbearing. When I was young a parking garage sold spots for 20k and we laughed. they are worth over 250k now --172.58.xx.xx |
parking spot sale (by Nellie [ME]) Posted on: Apr 15, 2021 8:55 AM
Message:
I wouldn’t sell it. However, I would rent it!
We live in area where it is unusual to not have parrying for 2 cars. But there is a house 2 houses down that (barely) has parking for 1. We allowed the live in boyfriend to park in our parking area in exchange for Oboe lessons for my daughter. We thought it was a very good deal! --70.20.xx.xx |
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