Considering selling your rental property?

If you are considering selling a rental property, here are a few possible paths to consider. Timing is critical, especially in a rapidly changing market.

1. Wait for the tenant to move out. Clean, make repairs, update, stage, and let it shine! This is ideal. But you also want to consider market timing.

2. If the tenants' lease is ending soon. You can consider listing the property for sale around 3 months before the lease end date. It will take some coordination with the tenant to be flexible with showings and keep the home in a show-ready condition. Why 3 months? In order to qualify for primary residence financing, an owner occupied buyer is required to move in within 60 days after closing.

3. With a tenant. This works for multi-family, not as effective for single family or condos, where your ideal target market is an end user retail buyer.

Most importantly, stay safe and healthy during these times!

From six-feet away,

Adrian Chu

Adrian Chu is a full service real estate professional – he buys, sells, invests, develops, builds, and finances real estate in Washington, California, and Oregon. Adrian is a Mortgage Loan Originator (MLO-920749) in WA and CA, Real Estate Managing Broker in WA, Real Estate Broker in CA, Real Estate Principal Broker in OR, and a certified real estate instructor. Local to Seattle, Adrian is a proud Husky with a Master in Business Administration and Bachelor of Science in Electrical Engineering from the University of Washington. He can be reached by phone or text at 206.407.5452 and by email at [email protected].