selling duplexes
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selling duplexes (by Turbo [IL]) Feb 21, 2018 4:59 PM
       selling duplexes (by AllyM [NJ]) Feb 21, 2018 5:10 PM
       selling duplexes (by Landlord ofthe Flies [TX]) Feb 21, 2018 5:41 PM
       selling duplexes (by Beth [WI]) Feb 21, 2018 5:57 PM
       selling duplexes (by Robert,OntarioCanada [ON]) Feb 22, 2018 6:24 AM
       selling duplexes (by TA [CA]) Feb 22, 2018 10:43 AM
       selling duplexes (by Turbo [IL]) Feb 22, 2018 4:21 PM
       selling duplexes (by Ray-N-Pa [PA]) Feb 26, 2018 5:59 AM

selling duplexes (by Turbo [IL]) Posted on: Feb 21, 2018 4:59 PM

We have 3 duplexes,(6) units, in IL that we want to sell. They are in a City where the value has depreciated a lot. The duplexes are all one block. If we decide or have an offer to sell them as individual units, what type of contract do you have to have for the owners of the duplexes. ie: maintenance, etc? Right now they are all rented to retired individuals who I do not believe because of their age will want to buy their side. We need to sell them due to our ages and health. We have been told by real estate brokers it will take quite awhile to find buyers for them because of the area and how low the rent is . We have taken real good care of them and they are the best in the town.

selling duplexes (by AllyM [NJ]) Posted on: Feb 21, 2018 5:10 PM

Find another realtor who has more imagination. There is First Time Home buyer money out there if they are really each two separate homes with separate deeds. Maybe someone needs a tax shelter.

selling duplexes (by Landlord ofthe Flies [TX]) Posted on: Feb 21, 2018 5:41 PM

They may be more attractive if packaged together as investor property since they're well maintained and on the same block. The buyer knows they can raise the rents later, but having below market rents will lower your sales price a bit since most rental unit prices are based on rental income earned.

But I agree, better find another agent that has a bit more imagination.

selling duplexes (by Beth [WI]) Posted on: Feb 21, 2018 5:57 PM

An option might be to put your tenants on a MTM lease. That way a buyer has the opportunity to increase rents right away.

Different realtors may tell you a higher sale price just to get your business. If you can, get comps for duplexes in your area.

In my area, the rent wouldn’t have much impact on the sale price. But rentals are selling quickly in my area.

selling duplexes (by Robert,OntarioCanada [ON]) Posted on: Feb 22, 2018 6:24 AM

Try to list the rentals on some of the internet sites. Google to find sites that sell properties. Never say never.

selling duplexes (by TA [CA]) Posted on: Feb 22, 2018 10:43 AM

Are these 3 duplexes on one lot, or three separate duplexes that are very close together, or 6, attached single family homes? Are they in pairs so they share one party wall and that is it, or is there a shared driveway or other common areas? A real estate lawyer can draft a party wall declaration as a deed restriction if these are sold as 6 individual homes

selling duplexes (by Turbo [IL]) Posted on: Feb 22, 2018 4:21 PM

The duplexes are on 3 separate lots. They share one common wall. Each has their own garage/driveway side

By side. I appreciate all the answers.

selling duplexes (by Ray-N-Pa [PA]) Posted on: Feb 26, 2018 5:59 AM

Perhaps they should be sold as a single unit using either Costars or Loopnet.

This could allow you to complete a 1031 exchange easier into a NNN lease property (so it it hands off).

If marketing isn't the issue, then perhaps you could consider the terms of the deal. Carrying paper, might help you out based on health and age issues.

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