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How to Sell Properties Already Occupied By Tenants?

By Chris Javierto

There are so many reasons why you should know how to sell property if you own some, and heaps of reasons why you would want to sell fast. However, you may face problems if tenants currently rent out the place you are trying to sell. Your tenants may not want to move just so you can sell, and you might wonder if you can even find buyers for an occupied house. This conundrum brings up an important question – can you sell your property if your current renters are still living in it?

This is undoubtedly a big question in your mind if you want to sell your occupied property. Keep on reading this informative article to learn more about if and how you can sell your properties.

Can I Sell My Property If My Tenants Are Still Renting It?

It doesn’t matter if you already know how to sell property; first you need to know if you are legally allowed to list your occupied property.

The short answer is yes; you absolutely can sell your occupied property if you take the right steps and make sure everything is done correctly.

Specific laws and conditions may apply to different areas, so it’s also important to be aware of any regulations in the area that your property is in. However, in general, as long as everyone is on board and communication is clear you should be able to sell your occupied property.

How Do I Sell My Occupied Property?

Now that you know it’s possible, it’s time to learn how to sell property when your tenants are still occupying it. There are some rather notable advantages and disadvantages to selling occupied places, but overall this is usually a better alternative to waiting for renters to move out or for their lease to end.

To ensure that the whole selling process goes smoothly and that everyone is satisfied with the results, you must know of the following things:

You Must Tell Your Tenant That You Are Selling The Property. This action is required if you are putting your property on the market. Landlords who are selling their property must tell their tenants in writing that they are doing so in order to let them know what’s going on.

It is recommended that you deliver this news to your tenants in person so that you can discuss what will happen. While you do not have to go over how to sell property, it’s still important to let your tenants know what will probably happen in the near future. Speaking face to face will also allow you to work out if you have permission to take potential buyers onto the property.

You Need Permission To Access The Property, And You Should Work Out An Agreed Upon Schedule. Naturally, since your tenants are still occupying the property, you cannot bring buyers in whenever you want. You and your tenant should work out a schedule so you know when you can check out the property.

You will also need permission to photograph the place, and tenants are allowed to restrict you from taking photos of their personal belongings.

Always Communicate Well. When learning how to sell property, it’s absolutely essential to have good communication skills. Your buyers and tenants will appreciate your transparency so that they know exactly what’s going on and what to expect. No one likes upsetting surprises, so omitting information can quickly make people upset.

You might want to consider offering your tenants an incentive to encourage them to work with you. For example, you could offer some sort of discount on rent in exchange for allowing you to show the property to buyers.

Working With Professional Real Estate Agents Can Make The Process Simpler. Selling property, dealing with tenants and working with buyers is no easy task, especially if you don’t have much real estate experience. So, one of the very best ways to ensure everything goes smoothly is to work with professional real estate agents.

Expert agents who have the right experience and knowledge can help you make the most out of the situation. They will know how to get the best deals and keep your tenants and buyers happy, even if you yourself don’t know much about how to sell property.

Where Can I Find High-Quality Real Estate Help In New Zealand?

At Ray White Mairangi Bay, we are here and ready to help you with all of your real estate needs. Our exceptional team of professionals has the right experience to help you achieve the best results possible. It doesn’t matter if your property is vacant or occupied; we always do our best to help our valued clients.

Are you trying to sell your property? Don’t do it alone, come to us for professional help. You can visit our contact page to get in touch with our friendly team. Or, you can also call us at +64 9 377 5069.

Ensure that the right steps are taken by working with us at Ray White Mairangi Bay!

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