Due to the rules set by the CDC, the eviction moratorium has left many investors earning little to no rent. But what are you going to do when your tenants don’t pay up? Regrettably, many investment property owners can no longer afford to bear the loss while the order drags on. When they are getting ready to sell Massachusetts or Connecticut house, most property owners resort to the more conventional style of listing a property, without worrying about other choices. When already facing not collecting rent, it may feel financially daunting to take all the measures to prepare the property to make it market-ready. If you find yourself in this situation, when your tenants do not pay up, we will discuss how to sell your Massachusetts or Connecticut investment property.
Real Estate Agent
It is highly difficult, if not almost impossible, to attract the average investor to a listing in the real estate market if you want to sell your Massachusetts or Connecticut investment property while your tenants do not pay. The fact that your tenants are covered under the order is not something that will go unnoticed, so be prepared to be absolutely honest about the current status of your tenant with respect to the order. The inevitable showings, which means agreements with tenants to show your investment property, are a problem with listings. Be prepared to cover both the interior and exterior costs for photography, publicity as well as maintenance and upgrading the house. Commissions and payments linked with real estate brokers are added to this.
When your tenants do not pay, the other alternative to list your Massachusetts or Connecticut investment property is for sale by the owner or FSBO. The monthly income realized from the investment is the most important details that every buyer will be searching for. Under the guidelines of the CDC order, you may want to be completely prepared to share any agreements you have already made with your tenants for partial payments. You also don’t have to think about tenants responding to questions that they really shouldn’t respond to a buyer’s agent or their customers by handling showings yourself. This also prevents your dealing with them asking you questions in front of your tenants during showings as well. One challenge is getting tenants who are full-time at home and in many situations they typically do not work at all. This causes tenants to have trouble keeping a unit spotless, just in case there is a demonstration.
Ready for a solution that is simple, painless, and easy? Usually, direct buyers close much quicker than conventional purchases and purchase homes just as they are. With no updates needed and no more maintenance bills to think about, this can mean thousands of savings for you! This often means purchasing the property with total knowledge of the actual status of the tenants under the decree. When your tenants are not paying, why not sell your Massachusetts or Connecticut investment property to a direct buyer? It’s incredibly straightforward to sell to a knowledgeable home buyer. Each phase of the process will be set out and typically have shortened, very straightforward contracts that are as basic as purchasing agreements are. While tenders are typically below market, this is for good reason! By buying your house as-is, the buyer takes a huge risk, because your home could be more compromised than you know! This reduces the exposure to legal risks inherent in typical sales of real estate.
Put behind all of your problems! Your greatest option? Sale your investment property Massachusetts or Connecticut to Mass Property Buyers when your tenants don’t pay. Sellers should expect Mass Property Buyers transactions that are fast, easy, stress-free. Give us a call to discuss the sale of your Massachusetts or Connecticut investment property and the steps to obtain your customized, no-obligation offer or send us a message. Call 413-455-0008 to find out more today!