Can I Sell My Property If There Are Tenants Living In It?
Can I sell my house with tenants Living In It? Do you need to sell your property but have renters? That’s okay, because you can sell your property even if there are tenants living in it.
The key? Find a local cash investor. Not only will they do the legwork on the deal, including working with your tenant, you will also be able to sell your home quickly without doing repairs, staging, or cleaning.
It sounds like a win-win to me!
If you were to sell your property with traditional sale, you would be responsible for understanding the tenant rights in your state, working with your renter to set up showings, and everything else that goes along with selling a property while you have a tenant.
Having a tenant can also hurt your chances of finding a buyer if you choose to sell your home on your own or with a real estate agent. A buyer might feel like having a renter in the property adds an extra hassle that they don’t want to take on, no matter how much they love the house.
A local investor like Synergy Home Buyers takes the guesswork out of it. Once you accept their all-cash offer, they will do all the negotiating, giving notice to the tenant. They will even be able to keep the renter in the home, if needed.
The investor will take control of:
- Investigating tenant rights
- Look at the terms of the current lease
- Working directly with the tenant
- Scheduling with the renter if access is needed to the home
All states have different tenant rights laws, but they might include:
- 24-48 hour notice to the occupant before entering the property
- Right to negotiate a relocation fee
- Lease termination payment to the tenant
- 30-day window to vacate the property once it sells
- Right to receive notice to vacate
Depending on your state, there could be even more red tape. The best-case scenario when needing to sell your home while you have a renter is to find an investor to handle the deal for you. And, if you find the right investor, they will even cover all the fees or payments due to the tenant.
So, if you have been hesitating selling your home because you have a current tenant, don’t! Just find a reputable investor who will purchase your home and take on the responsibility of dealing with the tenant, bank, and closing the deal with little to no involvement from you.