Selling a shop with a house or apartment on the same lot
Shops that share a lot with a house or apartment are common in New England. You can often sell everything together, or split things up, depending on how the lot is set up.
If this sounds like youYou live next to the shop, or you rent out the apartment above it. Selling the shop means figuring out what happens to home too.
What you can do.
Sell everything together
One buyer, one sale. Simple, if you're ready to move.
Sell the shop and keep the house
Only possible if the lot can be split or set up that way. Ask the town.
Rent the house or apartment to the buyer
Some owners stay as landlord for part of the property.
What to watch for.
- Find out from the town whether the lot can be divided.
- Think about privacy and noise if you plan to stay next door.
- Talk to your CPA early. Homes and business property are handled differently.
Owner to owner, and it stays private.
Lotus has looked at shops with homes and apartments attached. We'll walk the whole property and talk about what you want to keep.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Can I keep living next door?
Sometimes. It depends on the lot and what you and the buyer agree.
Does Lotus buy the house too?
We look at the whole property and talk it through. Every one is different.
Thinking about what comes next for your shop or building?
Tell James a little about it. Only James reads it, and the conversation stays private. No pressure, no broker and no mailing list.