It’s a challenge selling a home under most any circumstances. Even those homes that move quickly! Sometimes people forget that most of the work in listing a home for sale happens before the home is even introduced to the marketplace. It’s wonderful when the home sells the first week after listing—that’s painless for the sellers. But by that point in the listing relationship the agent has invested 80% of the necessary work that it would have taken to sell it even if it took 3 months or more.
When tenants are occupying, the work on the front end is even greater and there are some special duties on the back end as well. It’s crucial that the seller’s understand that they have three options under this circumstance:
If the property is sold subject to the lease, be prepared to include in the sales contract terms for dealing with rent collections, security deposits, and ongoing maintenance issues. Maintenance does not stop because of a sales contract. Who should be contracting for repairs during the pending stage of the contract? Do you need lien waivers for work in progress or invoices not yet paid? The buyer is going to want a copy of the tenant ledger, either at or before closing. All ongoing processes must be handed over in a tidy little package to the buyer if problems are to be avoided. Give it some thought.
If you need a reliable property management company in your area, contact 3 Options now.
The author of this Blog is neither an attorney nor an accountant. Nothing written should be construed as legal advice. Conclusions conveyed are outcomes based upon practical experience and should not be depended upon to be a common outcome of other similar circumstances. Consult with a professional before making tax or legal decisions about real estate in Roswell, Milton, Cumming, Alpharetta, Johns Creek, Woodstock, Marietta or any other municipality in Georgia.
If you have been rummaging through web results for “property management companies near me,” then you are at the right place. 3 Options Realty’s property managers in Atlanta are experienced and trained to deliver top-tier service. Call 3 Options Realty to speak with a friendly representative today to learn more about our property management & real estate services. We are ready to take your call.
We use professional market research to determine fair-market rent, and we use broad market advertising to reach a large audience. Our agents will also help you prepare your property and skillfully present your property. Prospective tenants will undergo comprehensive interviews and background screening before we negotiate with them the rental agreement using our proprietary, attorney-reviewed forms.