selling with tenants
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selling with tenants (by ss [CA]) Nov 19, 2020 2:19 PM
       selling with tenants (by Richard [MI]) Nov 19, 2020 3:27 PM
       selling with tenants (by RR78 [VA]) Nov 19, 2020 4:13 PM
       selling with tenants (by Landlord ofthe Flies [TX]) Nov 19, 2020 4:16 PM
       selling with tenants (by Jim in O C [CA]) Nov 19, 2020 4:29 PM
       selling with tenants (by TenantWhisperer [MA]) Nov 19, 2020 4:36 PM
       selling with tenants (by Ray-N-Pa [PA]) Nov 19, 2020 8:12 PM
       selling with tenants (by Tonia [RI]) Nov 19, 2020 8:31 PM
       selling with tenants (by Ray-N-Pa [PA]) Nov 19, 2020 9:28 PM
       selling with tenants (by Moshe [CA]) Nov 19, 2020 10:29 PM
       selling with tenants (by Ray-N-Pa [PA]) Nov 20, 2020 7:42 AM
       selling with tenants (by Mike45 [NV]) Nov 20, 2020 3:25 PM
       selling with tenants (by Landlord ofthe Flies [TX]) Nov 20, 2020 3:26 PM

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selling with tenants (by ss [CA]) Posted on: Nov 19, 2020 2:19 PM
Message:

State Specific Question About: CALIFORNIA (CA)

We finally want to sell one of our rentals. I'm told by our listing agent that the tenants must agree to show the house but they haven't yet. Also, that the tenants are hoping to buy it. However nothing is moving beyond that. I'm beginning to feel played. How can I move forward on this listing? Thanks in advance! --67.40.x.xxx




selling with tenants (by Richard [MI]) Posted on: Nov 19, 2020 3:27 PM
Message:

Get a different agent. You are being played and mislead.

The mere idea that an agent would say this is ridiculous, in my opinion. I'd fire the agent immediately.

Your rental agreement should address this.

You should also have a recent video tour with voice of the entire house, inside and outside, to go with your listing to show any potential buyers the entire place. That way, buyers can at least take a video tour of the house without problems or arguments by the tenant. Once a buyer decides to make an offer, the offer can be subject to a physical tour which can, hopefully, be arranged.

Tell tenants if they want to buy it that they have 24 hours to make an offer and apply for loan. Don't let the loan process drag out. In fact, if they are really interested, they should have already got their lender selected and should be preapproved, NOT PREQUALIFIED. Prequalified means NOTHING!

Tenants often pull this ruse to stay longer.

In addition, if they have anything other than a month to month lease, you may/will have to honor the term of the lease. If they are month to month, give them notification that their lease is ending. Hopefully you have a holdover clause.

Remember: The OWNER is in charge. The tenant and the real estate agent are not.

--75.7.xx.xx




selling with tenants (by RR78 [VA]) Posted on: Nov 19, 2020 4:13 PM
Message:

Makes me wonder if this is a new thing. I know CA has not adopted any covid 19 liability rules. And most Libs are against the proposed laws.

Besides it never being a good thing. Showing a place when a tenant is living there. Unless to another investor.

Do RE agents now have some liability concerns. --73.40.xx.xx




selling with tenants (by Landlord ofthe Flies [TX]) Posted on: Nov 19, 2020 4:16 PM
Message:

The next thing you need to worry about is the tenant tanking the showing. If they are trying to prevent the sale, they'll either say bad things about the condition of the house, true or not, or leave things in horrible condition. They might even try to change the locks. --108.69.xxx.xxx




selling with tenants (by Jim in O C [CA]) Posted on: Nov 19, 2020 4:29 PM
Message:

Years ago I sold the rental to the tenant. I made them get a letter of qualification. Next I got a FEE appraisal not a Realtors guess of the value and reduced the price 3% since no Realtor commission. We agreed on the price and went to an escrow company and drafted a sales agreement. 45 days later the house was theirs. Currently most houses in California sell for above the realtors (guessed value) and listing price. --99.23.xxx.x




selling with tenants (by TenantWhisperer [MA]) Posted on: Nov 19, 2020 4:36 PM
Message:

Talk to the tenants. "Will probably sell to an investor. The fact that the unit has existing tenants is attractive. I'll tell the new owner what a good tenant you are - pay on time, don't cause problems, etc."

Enroll the tenant in the idea that they are just changing landlords.

I just sold 2 three families and that line of patter produced just the kind of tenant cooperation I needed.

How long is the listing? Get a new realtor when it expires.

--73.16.xxx.x




selling with tenants (by Ray-N-Pa [PA]) Posted on: Nov 19, 2020 8:12 PM
Message:

Don't sell with tenants....instead empty it out and clean it up so you get top dollar about the time when COVID fear calms down. I am not all that sure I would want to sell a multi family now a days --24.101.xxx.xx




selling with tenants (by Tonia [RI]) Posted on: Nov 19, 2020 8:31 PM
Message:

Ray-n-pa why do you say not sell a multi now? Do you expect values to increase? So many landlords are running for the hills with covid-19 and eviction moratoriums. --172.56.xx.xx




selling with tenants (by Ray-N-Pa [PA]) Posted on: Nov 19, 2020 9:28 PM
Message:

If so many folks are running away from the asset that you are trying to sell, are you going to get top dollar for it? --24.101.xxx.xx




selling with tenants (by Moshe [CA]) Posted on: Nov 19, 2020 10:29 PM
Message:

CA law states that:

"(a) A landlord may enter the dwelling unit only in the following cases:

(1) In case of emergency.

(2) To make necessary or agreed repairs, decorations, alterations or improvements, supply necessary or agreed services, or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workers, or contractors or to make an inspection pursuant to subdivision (f) of Section 1950.5.

..."

Having said that, it is important to point out that, having the right specified in this legal section does not mean that Landlord can simply walk up to the door an demand thiese rights.

You must negotiate with the tenant about the details of your entry, and it is ALWAYS better to keep the matter of your visit on a friendly, cooperative basis. You have the legal power, but the tenant also has power to frustrate any attempt of yours to show up and demand your right. You can try to use your legal power to obtain your deserved result.

For the future, you may want to think if there is some way that you could use your lease to enhance your situation.

--47.139.xx.xxx




selling with tenants (by Ray-N-Pa [PA]) Posted on: Nov 20, 2020 7:42 AM
Message:

If so many folks are running away from the asset that you are trying to sell, are you going to get top dollar for it? --24.101.xxx.xx




selling with tenants (by Mike45 [NV]) Posted on: Nov 20, 2020 3:25 PM
Message:

A client of mine is a LL in Los Angeles. The Tenant has refused to allow any showings of the property despite written notice posted on the property and text reminders. When the agent showed up with prospective buyers, the tenant refused to open the door. I served a Cure or Quit, demanding that the tenant allow access, but this did no good.

The second time the tenant refused access, the agent called the police who pulled the usual "it is a civil matter" routine.

As soon as the eviction moratorium is over, the tenant will be evicted. But for right now, there is nothing we can do. By the way, there is a large German Shephard in the unit, so showing the property while the tenant is out is not an option.

--71.38.xx.xxx




selling with tenants (by Landlord ofthe Flies [TX]) Posted on: Nov 20, 2020 3:26 PM
Message:

If B wins, capital gains is going to go up. Definitely sell now. --108.69.xxx.xxx



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