Whether you’re a real estate investor or you simply have tenants living in your home part time, the day may come that you need to put it on the Grand Junction real estate market.
But if you have tenants, how are you supposed to do that?
The good news: it doesn’t have to be a horror story.
Selling a Home With Tenants
Many owners today are “accidental landlords.” That happens when you’re forced to move but you can’t sell your home; instead, you have to rent it so you’re not facing financial catastrophe.
You basically have only two choices when you have tenants but you need to sell your home: wait for their lease to expire or sell it while they still live there.
Waiting for the Lease to Expire
It’s tough to sell a home that someone is living in—there’s no way around it. When you have tenants, you’ll have to work around their schedules for showings, and you’ll have to hope that the home is clean and “showing-ready.”
Typically, your Realtor will advise you to wait for the lease to expire if you aren’t on good terms with your tenants, or if you’re unsure that they will put your home’s best face forward when potential buyers come calling.
Selling While the Tenant is in Residence
Sometimes, however, it’s a good idea to sell while your tenants are still living in your home. Some of that relates to real estate basics, such as the fact that homes show better when they are furnished.
If you choose to do this, make sure you make it easy on your tenants (this isn’t only for their benefit; it’s for yours, too). Try to help them find a new place to live, and if possible, lower the rent for a couple of months leading up to the sale to ensure their goodwill during showings.
Are You Selling a Home With Tenants in Grand Junction?
Every situation is different, so it’s best if you speak with a knowledgeable Realtor who can help you make the right decision if you have tenants in your home but need to sell it.
Call us at 970-765-4135 or contact us online. We’ll be happy to give you a free comparative market analysis so you know exactly how much your home is worth, and we’ll give you our best advice based on our knowledge of the local market and your situation.