First time selling a nonconforming triplex - help!
We’ve been renting out a single family home for the last year that is renovated to be a triplex. We’ve made a great return so far but the city has asked us to move back in to continue renting out the ADUs, so we’re opting to sell instead and need it sold by the end of October. This is our first time selling a property so I have a lot of questions:
1. Any recommendations on who to sell through? There are services like Homey and Open Door that claim to charge less than 3% but I’m skeptical they’ll be as good as a regular realtor.
2. In order to avoid capital gains tax, do we need to have the property under an llc to utilize the 1031 exchange?
3. All 3 units are fully occupied right now, so though we will ask tenants to keep their space clean for showings, the rooms won’t be properly staged. Should I worry about the appeal of the house when it’s being occupied? Also, how soon do you recommend I let the tenants know that we’ll be selling the house?
Any other advice for a first time seller would be greatly appreciated!