| Wicked Local
Q: We are considering the possibility of privately selling our condominium apartment to the owner next door to us who plans to combine our two units. What advice do you have for this kind of unusual transaction? We would, of course, engage our attorney early in the transaction.
A: Most of the advice and due diligence in this type of transaction lies with your neighbor. As the buyer, your neighbor, at the very least, needs to review the condo documents to make sure such a combination of two units is indeed allowable and feasible.
As the seller in a private transaction such as this, you have already mentioned the first important step you need to do: hire an experienced real estate attorney at the very beginning of the process. Your neighbor should hire his/her own attorney.
Determining the price for your unit is