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I had a similar situation occur to me this spring. My situation would have been a cash purchase and 90 days to vacate. I looked at comparable property and the costs to move and the hassle. Location, location, location, is what dictates the price. Find out what a comparable rental would be if you had to move and decide what your place is worth a month without the location premium. I came up with $20 to $25k to move in 90 days from an 11,000 square foot auto shop and warehouse. If he is cash flush now would be the best time for both of you. I would ask at least a 25% premium on value of the property.
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