There are only a handful of commercial properties in downtown Pittsboro. Eric Andrews owns 5 of the buildings himself, and all 5 never made it to market.
Usually, you need to know someone.
If you are active in the real estate community or work in downtown Pittsboro, the owner of a building may come to you and offer you the building for sale. In other cases, a rumor will begin circulating; when that happens, you’ll need to reach out to the property owner yourself. By the time the rumor begins circulating, there’s a good change that there are already several offers on the property.
It’s not always about the money.
In the video below, Eric Andrews explains that it isn’t always about the money or having the highest offer. Many sellers need time to evacuate their belongings or want to be sure that the property goes to someone they know will take care of it.
You’re buying the right to buy.
The building Eric’s office is in appraises for $425,000. The tax value is is $350,000. Eric has had offers for $600,000, and that’s not an offer he would even consider. When you buy property in downtown Pittsboro, you’re buying the right to buy because most people are going to finance a property, so, unless you’re a cash buyer, you’re technically buying the right to buy.
