Should I List Now, or Wait Until My Tenants Are Out?
The person in the best position to answer this question is you. Generally, the faster you go to market, the better for you. Why? Because you'll get to stop paying the expenses of the property and start enjoying the benefits of the cash from your sale sooner!As you make your decision, consider:
- If the tenants are very close to being out, you may want to wait. It will be easier for you to show the home without the tenants in it.
- If the tenants are particularly messy, you may want to wait. Such conditions are not conducive to great real estate photography or showings.
- If your home is great for families and it's summer, best to get listed with the tenants in. You want to maximize your exposure to buyers who want to be in by the start of the school year.
- Late summer or early fall listings suggest moving forward even with the tenant in place. You generally want to get into escrow before the Thanksgiving through Christmas timeframe when real estate slows.
Consider, too, using a slight rent reduction or small bonus at closing to make the tenant cooperative with your sale. The prime cooperation you want from them is having your place looking great for photography and showings.
If you do decide to list with tenants on the property, follow these tips and be sure to communicate that a For Sale sign is coming. Treat them with the same courtesy you would want from your landlord.
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