After being stunned by the high Marin house prices, client wanted to consider building a house. They lived out of town and wanted a second home near corporate headquarters with "world class views".
Looked at several homes and parcels in Belvedere and Tiburon, thinking of remodel, tear-down, or ground up building. Most properties viewed were for sale, however about a third of those visited were "dream sites" to generate ideas or possibly cold call owners of desirable properties.
One of the dream site location owners goes into bankruptcy and auctions one of the best view sites in Marin. In preparation for the auction, Legacy Builders meets with Tiburon planning officials and neighbors who will be most affected by the new home, to assess the potential difficulties. Legacy Builders represents client at the auction, with client on the phone, and purchases land for $1,710,000. Legacy Builders then negotiates with the neighbors and planning officials to get approvals with variance to increase the maximum house size from 3,749 to 5,060 square feet. After owning the land for 14 months, client decides they want to sell the property since headquarters may be relocating from northern California. Within one week (without putting it on the MLS) Legacy Builders brings an offer to purchase the land subject to Design Review approval of the house. Legacy Builders gets the house approved and property sold for $3,000,000. New buyer selects Legacy Builders to build the house for them.
Land cost: $1,710,000 / entitlement cost: $50,000 / sold: $3,000,000.