In South Florida, it’s pretty common to sell a tenant occupied property. However, before you start the process, consider all the aspects. It can save you time, money, and your sanity later.
1. Have You Thought Out The Details?
- Will the buyer be making the dwelling their primary residence?
- Will the buyer require financing?
In the above two examples, having a tenant can present a problem. Often, lenders require the buyer moving into the property upon closing. Also, the length of the tenant lease can be an issue.
4. Ensure The Listing Agent Is Professional
The listing agent should understand that the property is being used by the tenant as a HOME, and behave accordingly.
3.Discuss With The Tenant How This Impacts Him
Many tenants assume they will be kicked out at closing. Often, leases allow the tenant to complete the term of their contract. Also, does the tenant have any pets? You may want to make sure they are not present during showings. Always consult with a legal professional so that you and your tenant thoroughly understand what to expect.
2. Will The Tenant Be Cooperative And Make The Property Look Presentable And Allow Showings?
If the tenant is uncooperative, it may make more sense to wait until the lease is finished before you list the home. Repairs may be necessary, and you want the best presentation possible.
1.Establish A Plan
First and foremost, create a plan with the tenant. Communicate clearly. It may be a good idea to write down mutual decisions. Acknowledge that this can be a trying time for the tenant.
