Accountant · Tallahassee, FL · Member since 2016 · 36 posts · 14 votes
Hello,
Does anyone have any former experience selling a home that is occupied with your tenant. There is still 5 months on the lease. I haven't told her I plan on selling yet, and I don't know when the best time would be to give her that info.
Also, when should I start looking for an agent and communicating with them?
When would be a good time to have buyers look at the house while the tenant is living there?
Accountant · Tallahassee, FL · Member since 2016 · 36 posts · 14 votes
7y
@Michael Farrugia
I’m selling because right now I don’t like the area it’s in. I bought it for 45k cash in a as is sale, and it’s up for sale right now for 75k. Should get close to that number hopefully.
Investor · Roswell, GA · Member since 2017 · 14 posts · 2 votes
7y
I sold my duplex in Cape Coral with two tenants. I notified both tenants a month or two in advance. In anticipating their questions and concerns it’s important you educate them that a new buyer is required to honor their existing lease through its expiration. I also let them know that the agent would place a lockbox on the property for showings, however, they’d be notified at least 24hrs in advance and could be present if they do chose. Fortunately, I had an offer within a few days of listing.
Real Estate Broker · Cape Coral, FL · Member since 2014 · 382 posts · 300 votes
7y
@Clive Davis
Clive makes a great point, and the same is true for single family home rentals as far as new owners having to honor current rental agreements.
Selling homes with seasonal renters can be a bit trickier; typically they’re not obligated to allow prospective buyers in to see the home unless it’s stated in the agreement they signed. I have a gulf access listing in SE Cape Coral that’s in a seasonal rental program and I’ve been giving the current tenants a $25 Publix gift card for each buyer showing. The tenants love it and I’m happy to pay it.