Waiting Out the Lease Period

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What's in your best financial interest?

You have decided that the time is right to sell your rental property. It still may be in your best financial interest just to hang on and wait for the lease to expire or terminate the rental agreement as allowed by state law. 

Having the opportunity to inspect, repair, repaint and freshen up your property before listing it for sale could pay dividends. This can reduce the stigma of a prospective owner-occupying purchaser buying a former rental. Also, more buyers could view the property, without having to deal with tenant schedules and blackout days and times. With more potential buyers seeing your property the more likely competitive offers will come into play.

The overall advantage is that you should expect to get more for the property than if it was still tenant occupied. A buyer may agree to your price point because they can start from scratch on increasing the lease rate as opposed to having to deal with your tenants.