Sell My House With a Tenant In Place
Please feel free to watch the video attached to this article to get a better idea on the options we can provide here at CB Home Solutions. We may it possible to “sell my house with a tenant in place”.
Steps to Sell My House With a Tenant in Place
Can I sell a house with a tenant in place? The simple answer is yes…. but here are the questions you need to ask yourself
- Do you have a current term lease or is it month to month?
- What is the condition of the property?
- Are the tenants current on their rent?
- Do I want to keep my rental?
- Am I interested in a cash offer?
Answers:
Term Lease or Month-Month
If it is a term lease the lease will transfer with the sale of the property. The new owner has to be made aware of this and agree to all the terms of the current lease in place. This means you will need to provide the new owner with any lease paperwork, pre qualifications standards, etc.
If it is a month-month lease you can serve the tenants a notice to vacate prior to the closing date. (28 days in WI)
Condition of the Property
Have the current tenants kept the property in decent condition since they have moved in? Or is it completely trashed and thousands of dollars of work needed. Depending upon the tenant you can run across either scenario. If the property needs a lot of work and you don’t have time to fix it, we can buy the rental property for cash. Or if it is in decent condition you can list it on the market.
Tenants Current on Their Rent
This is either a yes or no answer. If the tenant has paid on time every month and is a good tenant then there is no point in kicking them out. On the other hand, if the tenant is always late on rent and is currently behind then it would probably be best to start the eviction process.
Do You Want to keep a Rental?
Are you happy with the idea of still receiving monthly pay checks in the mail from your tenant? Or do you just want to call it quits and never deal with a tenant again? Here at CB Home Solutions we can buy your rental property on terms, meaning we can pay you monthly installments & we take care of the tenant. Otherwise, we are more than willing to make a cash offer for the property.
Am I Interested in a Cash Offer?
If you are sick of dealing with the tenants, repairs, & late night phone calls this might be the best option. Whether the tenant is still living in the property or not, we can help out. With our Cash offer it is very easy. We make you an as-is offer for the property where we require no repairs & pay all the fees. The house can be sold in as little as 14 days & you will have cash in hand!
If you need to “sell my house with a tenant in place” please reach out today! We can be reached on our office line 920-215-4201 or through our online form
Video Transcription
So, the first question is, can I possibly sell my house with the tenant still living there? And the answer is yes. In Wisconsin, the lease goes with the property. So say you have a lease from January 2018 to January 2019, a year long lease and you sell the house in September.
Technically speaking, unless the tenant agrees to tear up the lease, they will be in place till January as agreed upon in your lease current lease. So, when you are transferring the deed, or transferring ownership, you need to be aware of this so you can give the new owner an idea on when the tenant needs to be out. However, if the tenant for some reason isn’t paying or is in violation of their lease, you can always go through the eviction process.
For example if they’re a couple months late on rent, then you can file for an eviction notice. This will be the first step in the process to evict them out of the property. In some cases it can take longer than expected, but it is always an option. Another option would be to sell the property with the tenant in place.
Here at CB Home Solutions, we specialize in buying property with tenants in place. Whether they are paying or not paying, we will take care of the problem. You don’t need to worry about trying to collect rent, because we specialize in buying properties as is. If you don’t want us to go into the property, we can make you an as-is, sight-unseen offer. Of course, we will have to account for a fair price if we go that route.
We do buy houses throughout the Fox Valley area. We buy houses with tenants in place, and would be more than happy to help you out. I hope you found this beneficial and please, feel free to send us a message, email, submit an online form, and we would be more than glad to help you out in the near future.