Sell the property completely or partial sale with investment?

What did they say as the selling price?

The interested parties were chased off the yard without being able to place a bid.

The interested parties were driven off the yard without being able to place a bid.

Very professional

Brokers do not buy, they SELL

( Exception is if they have a purchase order, which is rather unusual for a factory)

Tell that to your grandchildren / family....

What did they say as the selling price?

I have already met enough brokers who also like to buy properties themselves instead of placing them on the market, as long as they sense a bargain. After all, they are the first to find out about the desire to sell. It doesn't get any better than that.

This is done non-stop in Munich:
Selling a part of the property to a developer and getting apartments instead of money.
The partial sale is only to save real estate transfer tax. The unsold part of the property corresponds to the MEA of the apartments.

Or you can keep it simple and sell completely. With the money, you can then buy a finished apartment building and manage it yourself. At these amounts, the real estate transfer tax is naturally quite a lot. You just have to do your homework.

Managing a 10 million project alone, I would call a leap of faith.

Whether Plan A (with GU) or B (sale) is better depends on the circumstances and experience. Being a landlord with a larger individual property is not everyone’s cup of tea.

A backup Plan C, if the property is to be preserved at almost any price, could also be devised. However, it requires a secure income for everyone involved and a lot of time. Unfortunately, the past years were not used.

To sell a part of the property to a developer and receive apartments instead of money.

That is - although very roughly put - one of the various possibilities.

That is - admittedly quite roughly formulated - one of the various possibilities.

Yes, I know. But since I am not playing in that league, my detailed knowledge is limited. The important details and necessary preliminary work have already been explained in the previous comment. They correspond to my level of knowledge and repetition is not necessary. I don’t understand how one can just let existing capital of that amount lie fallow. I wouldn’t put a lottery jackpot on a savings account at 0% interest either. How can anyone be so unimaginative? But whatever. Then there is Plan C: So roughly speaking, establish a wealth-managing GmbH and contribute the property as an asset. The “heirs” become owners according to their shares. The GmbH takes out a loan of about 50% of the property value. With that, condominiums are purchased and paid off as quickly as possible. This generates a cash flow which (eventually) is independent of the actual property. However, this requires an income of all parties involved to cover current living expenses, to pump more money into the GmbH, and 10-20 years of time. When you rent out apartments, you also learn automatically and get in contact with general contractors. And I believe the 10-year speculation period does not apply to corporations. So one could pass the GmbH’s loan on to the owners, who privately buy and pay off the apartments with it. After 10 years, they are sold tax-free and depending on what remains, this procedure must either be repeated or there is already enough cash after the sale of the condos for the GmbH to build the first house on the existing property. If one had started with this 10 or 20 years ago... but as Alf says: "It’s never too early and only rarely too late." The internet has all the information. Once you have developed ideas and options... then off to the tax advisor to get clarification on the details. You have to invest the money instead of watching everything slip away.