Unlike a private house or home, selling your multi-family property involves multiple people, depending on the number of units involved. As a seller you must put a great deal of consideration into the transaction to make sure they aren’t crossing any legal lines regarding the laws, rules, and regulations of Brevard County by which multi-family property owners must abide. Failure to do so can be extremely costly.
We will cover five tips for selling your multi-family property in Brevard County
Check the Lease
When you go about selling your multi-family property fast in Brevard County, the first thing you need to do is review all of the leases, ensuring that you’re considering all of your tenants’ rights. Also, potential buyers may request access to your tenant files, therefore you’ll want to be absolutely sure everything is in order. Some buyers may want to occupy one of the units, so they may move on to another property if your leases are all solid.
Prepping
To compete on the real estate market when you are selling your multi-family property in Brevard County, you must show the property in the best way possible. Take a picture of the property. Looking at the picture may help you focus on the curb appeal or lack of curb appeal that a buyer would see as they scroll through real estate listings. You’ll want to cut the lawn and trim the shrubbery, paint the building more appealing, and be sure all signage is in good repair and the parking lot, amenities, or equipment is well maintained. Pay attention to door locks as well. Fumbling with a key won’t make a good impression.
Documents
You risk turning off a potential buyer if your documents aren’t ready for review and in good order when selling your multi-family property in Brevard County. Your bookkeeping records must be up-to-date. The buyer will want to see your yearly net operating expenses, outlining all costs associated with the multi-family property, as well as the income from the rental units. This report will provide buyers the ability to take and compare your properties with other properties quickly and if it is worth delving further into the transaction. Provide any paperwork that reveals regular maintenance, repairs, and any warranties that may still be valid, which hold value to the buyer as well. You’ll also want to include documents showing the age of the roof and the major appliances and the systems, such as heat or air systems.
Inspections
It is wise to have an inspection completed prior to selling your multi-family property in Brevard County. Finding surprise problems ahead of selling is best. Knowing any issues that exist with the property will allow you to decide how best to resolve them before entering into negotiations. When you do not do a prior inspection, the buyer upon reviewing the inspection, now considering your property as a fixer-upper, they will likely make an insultingly low offer. Often it is likely that your buyer isn’t interested in rehabbing a multi-family property and will walk away if their inspection should reveal a problem that the seller didn’t previously bring to their attention.
Direct Sale
Great News! Sell directly to House Beagle – we buy whether or not you have tenants! At House Beagle, we will purchase properties as-is for cash, so closing is fast. There’s no need to worry about sprucing the place up, or completing repairs, or paying holding costs while the property lingers on the real estate market. The professional buyers at House Beagle will go over the numbers with you to make sure that you agree that our offer is fair. We will also present to you what you would realize if you were to list your multi-family property on the MLS so that you can compare all options. Working with House Beagle makes selling your multi-family property in Brevard County easy! Call House Beagle at (321) 549-8686 or send us a message today!