Selling a house with non-paying tenants can be extremely difficult because it can be hard to get them out. However, you should not give up because there are still ways that you can sell your house even with non-paying tenants in your home.
If your tenant has been living in your rental property for six months or more and they have failed to pay rent for at least three consecutive months, then you can issue a notice of eviction. This will give them no more than one month to vacate your property before you can legally change the locks.
But what if you don’t want to go through the eviction process? What if you just want to sell your house with the non-paying tenants still living in it? Well there is a process for such situations.
Below are steps to selling your house with non-paying tenants
Give the Tenants Notice
The first step to selling your house with non-paying tenants is to give them notice. This will give them time to find another place to live and it covers your obligations as the landlord that are stated in the lease.
Consult a Real Estate Lawyer
Since you are selling your house with non-paying tenants, it’s a good idea to consult with a real estate lawyer. They can help you navigate the legalities of evicting tenants prior to sale. This will ensure that things run smoothly when selling your house.
Prepare Your House for Sale
Once you have given your tenants their notice and have a go-ahead from your real estate lawyer, you can start preparing your home for the market. You will want to make sure any repairs such as painting and a professional detailed cleaning are taken care of prior to listing and showing your house.
This is also a good time to decide how you are going to sell your house. There’s the traditional route of working with a real estate agent or you can choose to sell your house yourself. A third option that is becoming increasingly more popular is to sell your house for cash to a cash buying real estate company like Quick Fix.
List Your House on the Market
Now that you have made sure that your house is ready to show, it’s time to list it on the market. Zillow and Trulia are two of the best online marketplaces for real estate.
If you are selling your house through a real estate agent then it’s best to let them list your house for sale as they will have a better idea of the ideal price point. Just keep in mind that your real estate agent doesn’t work for free.
They will charge a commission once your house is sold. The average real estate agent commission is about 6% of the total sale of your house. This can be several tens of thousands of dollars. But if you get your house sold fast and for the price you want, then their fee may be well worth the cost.
Ink a Contract and Close
Once a prospective buyer has made an offer on your house, the next step is to either accept, reject, or negotiate the offer. If you accept the offer outright or if you are able to reach an agreed upon price during negotiations, you need to draft and sign a contract. Part of this contract will detail the closing dates and how the house is being purchased.
A financed sale can take several weeks or even a few months to close. During the process your buyer’s lender will appraise your house. If the appraisal deems that your house is worth less than the offer made by your buyer, they will either have to front the balance or you will have to lower your price. If you don’t want to worry about your sale falling through then you should consider selling your house for cash.
Ditch the Hassle – Sell Your House to Quick Fix
Selling your house can be a very involved process. This process is even more involved if you have unwanted and non-paying tenants living in your house. The good news is that Quick Fix Real Estate will buy your house for cash so you don’t have to worry about the hassle of selling your house and evicting your non-paying tenants.
Better yet, we will buy it as-is so you don’t even have to make any repairs. If you want to get rid of your house with non-paying tenants in Charlotte or Roanoke, contact Quick Fix today for your fair cash offer.