Hey guys, Carter here with CB Home Solutions and in this video I’m going to discuss selling a duplex with tenants in it. So when a property is tenant occupied, it adds another level of difficulty to selling the property. And when you’re looking at selling a duplex with tenants, it can be a very time consuming headache ridden journey. And I’m going to explain the simple how to steps to make it go as smooth as possible. So let’s go over this.
As you can see, I’m in my casual wear today, but when you’re selling a duplex with tenants, what do you need to know? What do you need to do? First things first, make the tenants aware, if you have a good relationship with them, that you are selling the property just so they don’t get upset when you go and they get a phone call from the new property owner that, “Hey, I’m the new landlord. I know we’ve never met but such and such.” And it can be a very kind of headache ridden process. And trust me, we have experienced this several times. It is not always pleasant.
So that’s the first thing. Notify the tenants that you’re looking to sell. Number two, if you’re going to be putting it on the market with a real estate agent, you’re going to want to have the real estate agent get in contact with the tenants to schedule showings, set up inspections, appraisals, everything like that. The nice part about selling to a company like ours is we don’t do any inspections, testing, anything like that. So it’s super easy, convenient, and we cut 30 to 45 days out of the process. So go to flipfoxvalley.com if you want an all cash offer. But to continue onward… So number one, notify the tenants that you’re selling. Number two, have the real estate agent reach out to him to kind of introduce himself or herself so they know who is going to be contacting them for showings.
Number three, make sure that the new owner is aware of what’s in the current tenants lease. If the lease is kind of all shaky or is little shaky, the new owner is going to want to know about that. Preferably, and we as a company, as CB Home Solutions, we like to purchase properties that either they have no lease in place or it’s a month to month lease because then we can decide what we want to do with the tenant. If we want to remodel the property, chances are we’ll probably kick that tenant out and then move into a new one, et cetera. But that’s typically how we operate. So when you’re selling a duplex with tenants, it can be very complicated or it can be very simple.
Say you came to us here at CB Home Solutions for a cash offer on your duplex, how would we go about doing it? That might be your question that you’re thinking of right now. So number one, I would have a phone conversation with you. We would talk about things. I would make you kind of aware on how we operate, how we do things, answer any questions you might have. And then we would go into the deal evaluation stage. I will ask you how much you want for the property when we have that initial phone call. If you can’t give me a number, I’m going to always assume a lesser amount. So at least give me some sort of number and go from there or I won’t be able to schedule a showing to actually take a look at the place. So it is beneficial to give a number over the phone just so we are aware on where one another stands on value, but then I would just schedule a time with you to take a look at the property, come through it.
After viewing it I would be able to make you an offer and that’s it. There’s no other showing periods. There’s nothing like that. We would go from there to closing and everything would be super smooth and easy and it would be a simple transaction which I like to always say, “We make the selling process simple.” So if you’re looking at selling a duplex with tenants already in it, reach out to us here at CB Home Solutions. Get your free cash offer on your property. If it works for you, great. If it doesn’t, so be it. We can help you in many different ways, shapes and forms. So have a great day guys. I appreciate you watching. If you need to reach us on our office line, feel free to call (920) 215-4201. Have a great one. Thanks.