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Ryan

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Managing Partner of TruVest Next Generation, Development & Technology. Partnering w/ communities & homeowners to build affordable housing #realestate

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8 Steps to Take Before Listing Your Investment Property for Sale

From assessing the state of the property and cleaning it up and getting it ready to list to speaking to your tenants so they aren’t blindsided by the sale and gathering up all the pertinent information about the property and any tenants, the work you do before the sale directly impacts how much money you make at closing. Know what’s going on in your property ahead of time so you can make the repairs you’ll be asked to make anyway. If your home inspection report turns up little or nothing, you can present it to potential buyers as a “pre-inspected home,” further providing proof that the property is a solid investment. Addressing the big issues before the buyers even see the home can help bring in a higher selling price because the property presents itself as solid, so buyers aren’t asking for larger-than-necessary repair concessions—or worse, canceling the contract because they have no confidence in the property! So does the inside of the property, but if you’ve got tenants, you’ll need to coordinate with—and probably incentivize—them to clean it and keep it clean. A clean property sells faster (and for more money) than one that is less-than-tidy. You can even contract with them to clean the home after it’s sold and the new owners have moved in. If you don’t already have a great investor-minded agent, start looking for one right now. Again, if you’re selling a rental, you’ll need to coordinate with your tenants to have pictures taken of the property. In her new book How to Sell Your Home, agent and investor Mindy Jensen takes you step by step through the process, from preparing your house to sell and choosing an agent that’s right for you, all the way through the closing procedures and beyond.