My Tenant Just Lost me the Sale….Again

Are you trying to sell a property that is tenant occupied? Some tenants will be very cooperative with their landlords when the property they’re renting is for sale, but a lot of tenants will be extremely difficult, after all your property is their home. For example some tenants won’t keep the place tidy or they won’t answer the phone when the listing agent calls to arrange a showing and if they reluctantly answer and say it’s not a good time, you just might lose that buyer. Tenants may not leave the premises when there’s a showing, and that’s always so darn awkward for the buyer, the buyer will feel like they’re invading the renters privacy and will not take the time to look at the home the way they should, they won’t turn faucets on and off, flush the toilet, open closets, cabinets and or garage doors. In and out they go off to the next property, and yours sits on the market.

As an owner you should let your tenants know in advance that you’re going to sell your property, give them the first opportunity to purchase the home. If they can’t or don’t want to purchase the property then discuss with them how the property should be shown, listen to their objections and concerns and decide if putting your property up for sale while it’s tenant occupied is the right choice. If you sense they are going to be difficult and that showing the property is going to be a problem then offer to buy your tenants out of their lease, pay their moving expenses if you think that will help, do whatever it takes to make your property available to qualified buyers. Believe me if you don’t consider how you’re tenants feel about your selling and showing their home it’s going to cost you a lot of money in the long run. As a seller you’re losing money for every month that property sits on the market. You’ll have to reduce your price and after time the buyers will be asking what’s wrong with this property, why isn’t it selling, why so many price reductions.

If you decide to sell while tenant occupied then your Listing Realtor should contact the tenants, ask how much advance notice they need for showings, talk with them about the importance of leaving the home while it’s being shown and hope they will oblige.

Good Luck with the sale.

By Deborah Link

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Do You Really Want to Sell Your House

You might answer that question with a yes but are you doing everything possible to insure your House sells. First and foremost price your house to sell, be competitive. Notice I’m not calling it a home because it’s a House for Sale; it will become a home again once the buyers settle in and make it their home. That’s what you’re selling after all, Home Ownership! The best way to get a sale is to hire a Realtor, by hiring a professional you can be assured that every buyer who comes through that front door is qualified and ready to purchase. Marketing your house as a For Sale by Owner may sound like a good idea in the beginning, but in today’s society is it really smart to let in anyone who rings your bell or call’s you on the telephone, no my friend it’s not smart and it sure isn’t safe.

Once you hire a listing agent, take their advice, after all you’re paying for their service, so give them the benefit of the doubt. It’s best to have your house on a lock-box so it can be shown easily. Keep your house neat all the time. If you’re home when an agent comes to the door with a buyer make yourself scarce, the best thing to do is leave, take a walk or a drive, but by all means get out of the house. If for some reason you are unable to leave the house then confine yourself to one room and stay there. When a buyer comes into your living room it’s important that he can see that room as his living room! Put away the family pictures, get rid of the knickknacks, and clean out the closets, make everything look bigger, bright and clean.

Your wishes will be respected, if you insist on being there for every showing then understand you are putting the buyer in an awkward position, you’re making him feel like he’s invading your privacy. Chances are the buyer will walk away from your house and buy the next one where he was more comfortable and relaxed enough to turn the faucets on and off, flush the toilet and look in the closets. I’m not saying your house won’t sell if you insist on being there but it will take a lot longer. And the longer it sits on the market the less money you’ll get in the long run.

ImageAs the owner if you’re going to make unreasonable requests of the buyers like removing their shoes, then your Listing Agent should be aware of this and let the buyer’s agent know beforehand. There’s nothing worse than knocking on the door to show a property and the owner tells the buyer’s agent and the buyers to take their shoes off, it’s bad enough that the buyer is going to be followed around by the owner in the first place. And taking off their shoes is very intimidating to the buyer, it puts them in a subordinate position and most people won’t spend their money when they don’t feel in control. You also have to consider that the buyer may have an age or disability issue and can’t take their shoes on and off from a standing position. So what happens now: the buyers refuse to take off their shoes and they walk away, they don’t see or buy your property, the buyer’s agent, by not being forewarned is embarrassed in front of the buyer and will be reluctant to show that property again, and you the Seller, have just LOST A SALE!

Putting your house on the market will inconvenience you the Seller, the objective during the sale process is to make the showings as convenient as possible for the buyer!

By Deborah Link

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