Valuation, Project Management, and Sale of Historic Estate

For more information, please contact:

Ruth Kennedy Sudduth - rkennedy@landvest.com

The Adams Estate in Dover, Massachusetts

42.59± acre estate.
Federal style main house built in 1912, carriage house, cottage, tennis court, pool, and cabana.
Approximately 1,400 feet of contiguous road frontage and adjacent to conservation land.

Conceptual land planning to determine the property’s highest and best use.
Appraisal for estate settlement.
Develop a disposition plan and identify issues that need to be addressed prior to marketing.
Various inspections, including building, septic, well, and environmental.
Removal of three underground and above ground tanks.
Prepare the houses for marketing, including clearing out personal property, repairs and painting, and staging.
Boundary survey, wetland delineation, preliminary and official soil testing, and preparation of a conceptual development plan.

Unique property with limited comparable sales, requiring significant capital improvements and/or redevelopment.
Confirming site development constraints and development potential as a basis for valuation.
Extensive site cleanup required prior to marketing.
Extensive work required to prepare the houses for marketing.

Due to all the preparation work and ability to quantify the development potential and support the valuation, the property attracted a significant amount of interest and sold to a single buyer on a non-contingent basis with a quick closing.
The buyer was only interested in building a single house on one lot for their own use but had to buy the entire property to be competitive with other buyers.
At the time of sale, the buyer planned to resell the remaining lots.