Selling Property That Currently Has Tenants
We currently have tenants in a townhouse which we would like to sell in Virginia. We have informed them of the intent and gave them a date to move out. We did check first to see if they wanted to buy the property but they were approved for less than the price we wanted to list and will need help with closing.
I have been thinking though- The price they are approved for is 4.6% less than what we would list it at. Plus, we have to put in about $7000-$10,000 to prep for the sale according to the real estate agent we spoke to. My calculations are showing me that I will net a very similar amount, possibly a little more, by just selling it directly to them at the lower price they are approved for.
Is this feasible? Can they get a mortgage and buy the home directly from us without either parties being represented by real estate agents?