When property prices are stressed it is difficult to sell off your residential home not to say anything about selling houses that are rented. If your residential house doesn’t fetch the right price during a recession then a rented home will find things even harder as there will no buyers for such properties. This is because no one wants to share the burden of removing a tenant as this can make things a lot risky. Yet if you think that selling house with tenants is the only way out as you need urgent cash then there is no other option, but to sell. Even though things are a little difficult you may still make a good sale of your house with tenants successfully if you consider certain points that are given in the following paragraphs.
Important points to consider
You may try to sell your home after the lease with your tenant has expired as then you may do some urgent repairs and make sure that the property is clean. Most buyers would like houses that look homely for them and outwardly look as if no other person has resided in it. In order to create such a first impression you may need an empty home well painted and airy.
However, there are times when some buyers may give preference to a rented house as they would feel that it is an obvious and suitable place for people to reside. It is here that your second option may work as you already have a tenant to show your prospective buyer around.
Yet, the above plan may backfire if your tenant is having a sour relationship with you. In all likelihood they may mess up the whole place and make it look miserable which will turn away even the most interested buyer. Hence, in such cases selling tenanted house is only possible if you develop good relationship with your tenant.
You may also win over the tenant by making the first offer of sale to the tenants themselves. This may either way as the tenant may be too happy to purchase the property or opt to help you in the process.
Taking a faster route
You may sell off your home if you think that you need cash urgently. This may be possible even if you do not have time to vacate the tenant or refurbish the home. Under such circumstances you may need to identify prospective buyers who are ready to purchase even a rented house. These people are however not so easy to spot and are rather quite rare. Usually they purchase properties not for residential reasons, but as an investment.
You may however look for cash house buyers sites on the Internet and they would seldom disappoint you. The main reason behind this is that these sites offer both the sellers and buyers a common platform without the need for agents. Besides, you are likely to find buyers from a wider area and some may strike a deal without bothering about the present tenants.