Unlike a single home, the sale of a multi-housing property depends on how many units there are and involves numerous families and individuals. The property owner has a great deal to think about regarding a transaction like this while respecting all laws, regulations, and rules that apply here in Florida. Failure to adhere could be extremely costly to a seller. Here are 5 helpful tips for selling your multi-housing property in South Florida.
- Check the lease – the first step in the process involves examining all of your tenant’s leases to ensure that you’re considering the rights of each one. Furthermore, make sure that all of your tenant files are in order as interested buyers are going to request access to them. Some buyers occasionally move into the properties they buy on a temporary basis.
- Enhance the curb appeal – if you’re going to compete with other multi-housing buyers, your buyers must see your property in its best possible light. Taking a photo of your property will help you see what the prospective buyers see. Focus on the curb appeal by doing certain tasks, such as maintaining the lawn and shrubs or throwing on a fresh coat of paint.
- Have all property documents ready to review – the quickest way to lose a buyer’s trust and turn them off is by not having all of your property documentation prepared for review. All bookkeeping records must be current. Plus, the buyer will be interested in your yearly net property costs and operating expenses as well as your annual rental income. Thus, make sure these things are ready for review and stay organized.
- Inspections – be sure you’ve had a thorough property inspection done before listing the property on the market. It’s always best to find unpleasant surprises beforehand and resolve them before negotiating with a buyer. If the buyer finds problems in the property inspection report, they will most likely low-ball you on the price they’re willing to pay for it. Thus, look up a good inspections service and complete the required repairs beforehand.
- Save all the hassle and sell your property to Homeinc –Homeinc has purchased several multi-family properties and are familiar with the process. We will purchase your proeprty in any condition after a FREE property analysis. If you accept our offer and you sign our contract, we’ll close within 5 to 7 days or if you prefer, you can choose your closing date. Once the closing is completed, the money is wired directly into your bank account. It’s just that easy.
Call us today at (888) 850-2636 to learn more about selling multi-housing properties or to schedule a FREE property analysis.