Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Tips For Selling A Home With Tenants – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 26 Jul 2016 11:40:04 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Guide On How To Sell A Home With Tenants [caption id="attachment_9529" align="aligncenter" width="450"]Tips For Selling A Home With Tenants Tips For Selling A Home With Tenants[/caption] Selling a home can be a fairly complex process.  When you add tenants into the equation, it can be downright difficult, if the proper steps are not taken. If you've decided that you want to sell your home rather than rent it out and have tenants in place, you need to understand what tips you should follow.  Again, selling a home with tenants doesn't have to be impossible, if the right advice is followed. Read on to find out what the best tips for selling a home with tenants are and you'll be on your way to a successful and smooth home sale.  Homeowners who have a property they're selling that is tenant occupied and decide to avoid following these tips are likely in for an uphill battle and frustrating home sale.

Determine Whether You Should Sell Your Home With Tenants Or Without

The first tip for selling a home with tenants is to determine whether or not you should sell your home with tenants.  There is no doubt that selling a vacant property is easier, but it is not always feasible as there maybe a long term lease in place. If your investment property is occupied with tenants who have several months remaining on their lease, unless the tenants are willing to vacate prior to their lease expiring, you may have no choice to than to sell your home with tenants.  On the other hand, if the tenants only have a few weeks or a month or two on their lease, it maybe advantageous to wait until the tenants lease expires to sell. The reason it may be advantageous to wait until a tenants lease expires is because it will make showing the property significantly easier and also the home will probably show much better when vacant.  It's unlikely that you'll be able to coach tenants on how to prepare for real estate showings, which is critical when selling a home.  There is only one opportunity to make a first impression and having buyers walking into a messy, cluttered, or dirty home is not going to make a great first impression. It's also possible that in a lease situation to "buy the tenants out."  This is when there are several months remaining on their lease beyond the closing date but you provide them with an incentive to vacate the property, such as giving them a free months rent.

Understand Tenancy Rights, Rules, & Laws

One of the biggest mistakes that are made when selling a home with tenants is not understanding the tenancy rules and laws.  It's important to first understand that tenancy laws can vary from state to state.  It's highly recommended when selling a home with tenants that you review the tenancy laws. If you're selling a home with tenants, you can find tenant rights for your state on the U.S. Department of Housing and Urban Development website, also known as HUD.  The last thing that you need when selling a home with tenants is a potential lawsuit because you did not understand what tenant rights applied in your state. It's recommended that if you have any questions about tenant rights that you consult with a local attorney.  Obtaining the professional advice from an attorney may have a small cost associated, but could save you thousands of dollars and many headaches if issues can be avoided.

Hire A Real Estate Agent With Experience Of Selling Homes With Tenants

[caption id="attachment_9536" align="aligncenter" width="450"]Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants Choosing An Inexperienced Real Estate Agent Must Be Avoided When Selling A Home With Tenants[/caption] Selling a home with tenants is not something that all real estate agents have experience with.  Choosing the wrong real estate agent can make selling a home with tenants next to impossible.  Selling a home with tenants requires the real estate agent to be very organized but also have the ability to get the tenants on their side. As you interview potential real estate agents when selling your home that is tenant occupied, it's critical you know what questions to ask real estate agents during an interview.  A few questions to consider when interviewing agents to sell your tenant occupied home include;
  1. Have you sold tenant occupied homes in the past?
  2. What is your method for coordinating showings?
  3. Do you use a showing service or do you schedule the showings yourself?
  4. Have you had any problems in the past while selling a home with tenants?
  5. Do you have any past clients whose tenant occupied home you sold that we could talk with?
  These are just a few of the most common questions to consider asking while interviewing agents to sell your tenant occupied home.  Having a top real estate agent who has the experience of selling homes with tenants can make all the difference between a smooth sale or a rough one!

Meet With The Tenants

If you have no choice but to sell your home with tenants because circumstances don't allow you to wait until the tenants vacate your property, you and your real estate agent should meet with the tenants.  There are several things that you and your agent should discuss with the tenants to help make the home sale go smooth. Below are some important things to discuss with tenants before listing your home for sale.

Inform The Tenants Of The Sale

A huge mistake that some landlords make is not informing their tenants that the property is going to be put on the market.  Recently while selling a home in with tenants in Rochester NY, the owner told the tenants the reason I was looking at the house was for an inspection, not to provide a comparative market analysis. It's important that if you're going to be selling your home that has tenants, that you inform them that it is going to be listed for sale.  Think about how angry you would be if you were renting a home and woke up to a for sale sign in the front lawn.  If you're looking to have little cooperation from the tenants when selling your home, not informing them of the sale is a great way to accomplish this.

Provide Assurance To The Tenants

One of the biggest fears of a tenant is that they will be homeless when a home is being sold.  Many times this is because they believe that if the home is sold in the first couple days on the market that they will need to be out.  It's important to discuss with the tenants that if the home sold tomorrow that they still have the right of sufficient notice of when they would be required to vacate the property. In the Greater Rochester NY area, tenants have the right to a full 30 day notice of when they have to vacate a property and this notice must be served prior to the first of the month.  For example, if a tenant is served with a notice to vacate on August 1st, they have the right to stay in the property until September 30th.  If they were served with the notice on July 31st, they would have the right to stay in the property until August 31st.

Talk About The Home Sale Process With The Tenants

[caption id="attachment_9537" align="aligncenter" width="450"]Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion! Explaining The Home Sale Process To Tenants Is A Smart Idea To Eliminate Confusion![/caption] When selling a home with tenants, you and your real estate agent should discuss how the process works.  It can make a huge difference if the tenants understand how showings will be setup, how much notice they will be given, what to expect once the home is under contract, as well as a variety of other things that may arise during the home sale. Below are some things that your tenants should understand about the home sale process.

Showings

Since the amount of time it takes to sell a home will vary and the number of showings will vary, the tenants need to understand that there could be one showing or twenty until the home sells.  Setting this expectation in the beginning it critical should the time it takes to sell the home be longer than anticipated.  When discussing how showings work, it's vital to stress the fact that they will be given sufficient notice for showings, typically 24-48 hours.  Any more notice than 48 hours can be detrimental to a home sale as the potential to lose a buyer because the inability to access the property exists.

Inspections

There are many reasons to have a home inspection when buying a home.  The fact is, the majority of buyers will elect to have an inspection.  When explaining the home sale process to a tenant, it's important to discuss the potential that there will be a home inspection. This is important since a home inspection can take several hours to complete, depending on the inspector.  Similar to showings, it's important to stress to the tenants that they will be provided plenty of notice as to when the inspection will be completed.

Bank Appraisal

Another step in a real estate transaction, if a buyer is obtaining mortgage financing, is the bank appraisal.  It's a good idea to explain to the tenants the difference between an appraisal and a home inspection. Stress to the tenant that the bank appraisal is generally quicker than the inspection and that they will be provided with sufficient notice, just like they will for showings and the home inspection.

Final Thoughts On Selling A Home With Tenants

Selling a home with tenants can be fairly simple if the right tips are followed. Providing a tenant with the proper information about the sale process and also assuring them their daily life will not be incredibly inconvenienced is important.  Having an irate tenant or a tenant who is not cooperative can throw a wrench in the home sale process.

Other Top Resources For Selling A Home With Tenants

Do you have a home in Rochester NY that you're selling that is tenant occupied?  If so, the above tips for selling a home with tenants should give you a strong understanding of what how it can be done, without tons of headaches.  If you don't have a real estate agent in Rochester NY who has experience with selling homes that are tenant occupied, contact me and I'd love to talk with you!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Tips For Selling A Home With Tenants" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]>