**If you're a broker who wants to serve your clients best interest and you don't have the buyer contacts or expertise to market and sell investment property/rental units, please call us and we can work out an arrangement that will benefit everyone - Fred
Copyright 2016 FRED GRUNEWALD
Do it right the first time
Often times a seller will hire an agent that doesn't understand rental units... and that agent fails miserably in their attempt to market and sell the investment property. After upsetting the tenants multiple times and not knowing how to screen inquiries and communicate with potential investors properly, the seller regrets not hiring a broker experienced in selling investment properties. Why not do it right the first time? Hire an agent with a track record and team that can get the job done, in a short period of time, with little inconvenience to you and your tenants.
When we meet I will be discussing...
How can Fred list, market and sell a property higher than appraised value?
How does Fred give confidence to a buyer that has never managed property before?
Why is screening a potential buyer for a multifamily completely different than a home buyer?
Why are most inquiries for rental property not serious and most buyers unmotivated?
How to deal with an angry tenant during inspection?
What to do when a tenant tries to sabotage our transaction or asks for something from the buyer during inspection?
How to deal with the buyer when they are shocked by a filthy/dirty tenant during showing or inspection?
How to deal with a tenant that has broken the rules by moving in a pet or additional people before closing?
How to deal with major interior problems that YOU, the owner are unaware of during inspection?
What if the tenant wants to negotiate a new lease before the transaction closes?
What if the buyer wants to occupy one of the units that has a lease?
What if the buyer wants YOU to evict a bad tenant before closing?
Recent interior inspection by the owner and other horror stories....
Fred's "Quick Checklist" to consider before we begin to market your property-
Curb appeal landscape/exterior condition? Positive first impressions are important.
Exterior condition and possible problems... paint, leaky gutters, drainage issues, nonworking cars, obvious tenant problems etc.
Roof condition and is certification needed?
Crawl space ok? When was it last inspected for moisture problems?
City of Seattle "Land Use Certificate". If your property is located within the city limits, the Department of Zoning requires you to provide the buyer this certificate showing how many legal units you have.
Are rents current market rates?
Begin to prepare books, records and leases for buyer review. This will be part of the buyers inspection process as agreed to in the purchase and sale agreement. Many lenders also require their own review of the income/expense/leases before they give loan approval to the buyer. I will advise you on how we approach this.
Leases in writing or month to month? Move in/move out condition sheet available?
Most buyers will be hiring a professional inspector to go through the entire property. Anything that is in need of repair or replacement will probably become an issue. As part of the inspection process, it opens up the agreement for renegotiation. Certain items can agreed to be fixed or possibly credits given to the buyer depending upon the circumstances.
There are many obstacles to overcome before the closing occurs. Our experience and expertise will help you avoid the pitfalls. The above are just a few items to consider before we begin working together. We hope to hear from you!
How does Fred sell investment property without disturbing your tenants and without "For Sale" signs?"
It's important to keep your rental income current and remember to "Raise Rents!"