sell my rental
While selling a home is complex, selling a rental property offers unique challenges. This is especially true if the property is occupied by a tenant, as there are legal requirements to ensure they have enough time to find a new home. But whether the property is occupied or vacant, when it comes time to sell your rental due to illness, divorce, relocation, or inheritance, here are a few tips to make the process easier than you expected.
In these situations, always talk to tenants as soon as possible. By showing them a high level of respect, you actually make their job easier. For example, even if they are going somewhere else, leaving on good terms will probably give them an incentive to leave the house in good condition. And in the best case scenario, they may actually express an interest in buying the house themselves, which would greatly speed up the sales process.
From the air conditioners and furnace to the plumbing and electrical systems, make sure everything is in good working order. If something is wrong, make the necessary repairs as soon as possible. And remember, if the tenant is responsible for any of the damage, deduct the costs from your security deposit and then use that money to make the repairs.
Since curb appeal is so important to selling a home, give the exterior of the home a makeover. For example, give it a fresh coat of paint, trim the grass and trees, and remove any unwanted clutter from the yard. By doing so, you will have potential buyers lining up to make an offer to you.
When you decide to sell your rental due to illness, divorce, inheritance, relocation, or another reason, always make sure you know the value of the property. To do this, check out listings for nearby properties similar to yours, and also talk to a knowledgeable and experienced real estate agent in your area.
For many people, they believe that once a property comes up for sale, it will sell very quickly. However, if the property is not marketed aggressively, it is likely to simply gather dust month after month. Therefore, always make sure that once you list your rental property, the agent working with you markets the home in every way possible. From posting it online to putting up a sign in your front yard, using all the options available to you will no doubt make your property sell much faster.
Instead of going it alone and seeing your property overlooked by numerous buyers, trust real estate professionals who have the knowledge and motivation to sell your rental as quickly as possible.
