Selling with Tenants
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Selling with Tenants (by Steve [OH]) May 11, 2022 9:35 PM
       Selling with Tenants (by Txlord [TX]) May 11, 2022 11:57 PM
       Selling with Tenants (by zero [IN]) May 12, 2022 6:31 AM
       Selling with Tenants (by Ray-N-Pa [PA]) May 12, 2022 8:36 AM
       Selling with Tenants (by Steve [OH]) May 12, 2022 9:55 AM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Selling with Tenants (by Steve [OH]) Posted on: May 11, 2022 9:35 PM
Message:

I have a couple properties I'd like to sell. Both tenants have been

there awhile and they're ok, as far as tenants go. I'm looking for ideas to ease their pain and get them on board. I know they're happy there and it's easier to sell when you're between tenants but what if they stay forever? I'm 71 and my health has not been great. Thank you..!! --74.129.xxx.xxx




Selling with Tenants (by Txlord [TX]) Posted on: May 11, 2022 11:57 PM
Message:

I sold couple of duplexes last year with tenants in them..

I made sure they were on month to month lease.

I didn't let my agent put any for sale sign.

Only when I had a firm offer I notified tenants that there is possibility that this home will be sold and I need to get inspection and appraisal done.

One of my tenant was taking advantage of the covid situation

And did not pay rent for a few months, I also know he could give wrong unneeded info to the inspector..

Gave all the tenants 24 hours notice of inspection and appraisal and I was there during the whole process. If the inspector had any questions I would answer and not the tenants.

My tenants have been with me for 12 to 15 years, bottom line it is your properties you decide to sell or not.. if it high maintenance properties and tenants then I would sell --72.180.xxx.xxx




Selling with Tenants (by zero [IN]) Posted on: May 12, 2022 6:31 AM
Message:

I started selling a duplex on contract and it was full. I let the tenants know what was going on. No worries from them.

Then the new buyer kicked them both out, at the same time. This was his only rental. Turns out he isn't meant to be a LL. I got the place back six years later.

I would let the tenants know you are preparing to sell. If they bail so be it. You can go in, spruce the place up and still sell.

Now if these are SFHs so you will be aiming toward owner occupied to get the crazy high prices. That might tend to make some buyers nervous because they won't know when the tenant will be gone or what condition they will leave the place in.

Guess I am on the fence here. Either way has its benefits. Keeping the places full makes you money while you wait. Empty will probably draw a better crowd if SFH.

I am sure they will sell fast and for more than listed. Best of luck and sorry to hear of your health woes. --107.147.xx.xxx




Selling with Tenants (by Ray-N-Pa [PA]) Posted on: May 12, 2022 8:36 AM
Message:

Any chance that the tenants can become buyers? --24.101.xxx.xxx




Selling with Tenants (by Steve [OH]) Posted on: May 12, 2022 9:55 AM
Message:

I wish. They've talked about it but can't seem to get it done. --74.129.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Selling with Tenants
Your Name:
Your State:

Message:
Selling with Tenants
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: