Unlike a private home, selling your multi-family property involves several people, depending on the number of units. Sellers must put a great deal of consideration into the transaction to ensure they aren’t crossing any legal lines regarding the laws, rules, and regulations of Lynchburg by which multi-family property owners must abide. Failure to do so can be extremely costly.
We will cover five tips for selling your multi-family property in Lynchburg, VA
Understanding the Market
When you set about selling your multi-family property in Lynchburg, the first thing you need to do is research the market. It’s essential to understand the current market conditions. You should research the current demand for multi-family properties, the current prices, and the number of properties that are currently for sale in your area. This information can help you price your property correctly and attract potential buyers
Prepping
To compete on the market when you’re selling your multi-family property in Lynchburg, you must present the property in the best light possible. Take a snapshot of the property. Looking at the photo may help you focus on the curb appeal or lack thereof that a buyer would note as they scroll through listings. You’ll want to trim the lawn and shrubbery, make the building more appealing, and be sure any signage is attractive and the parking lot, amenities, or equipment is well maintained. Pay attention to door locks as well. Struggling with the key to get in won’t make a good impression.
If you would rather sell AS-IS consider calling a direct cash buyer like Linken Investments at 434-390-2906. Linken Investments can buy your property exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast. Plus, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your house and get on with the next chapter in your life.
Documents
You risk turning off a buyer if your documents aren’t ready for review and in good order when selling your multi-family property in Lynchburg. Your bookkeeping records must be up to date. Your yearly net operating expenses will be of much interest, outlining all costs associated with the property, as well as the income from the rentals. This report provides buyers the ability to compare your properties with others quickly and if it is worth delving further into the transaction.
Additionally, buyers will request access to your tenant files, so you’ll want to be doubly sure everything is in order with those. Provide any paperwork that reveals regular maintenance, repairs, and any warranties that may still be valid, which hold value to the buyer. You’ll also want to include documents showing the roof’s age and the age of major systems, such as heat or air, and the appliances in the units.
Inspections
It is wise to have an inspection completed before selling your multi-family property in Lynchburg. Finding surprise problems ahead of selling is best. Knowing the issues that exist will allow you to decide how best to resolve them before entering into negotiations with a buyer.
Should the buyer remain at the negotiating table upon reviewing the inspection, now considering your property as a fixer-upper, they will likely make an insultingly low offer. It is more likely your buyer isn’t interested in rehabbing a multi-family property and will walk away if their inspection should reveal a problem that the seller didn’t bring to their attention previously.
Direct Sale
Sell directly to Linken Investments LLC. – we buy whether or not you have tenants! At Linken Investments LLC., we purchase properties as-is for cash, so closing is fast. There’s no need to worry about sprucing the place up, or completing repairs, or paying holding costs while the property lingers on the market. The professional buyers at Linken Investments LLC. will go over the numbers with you, making sure you agree that our offer is fair. We will also present to you what you would realize if you were to list your property on the MLS so that you can compare all options. Working with Linken Investments LLC. makes selling your multi-family property in Lynchburg easy!
Give us a call anytime 434-390-2906 or fill out the form here today!
Our Multiple Offer Model To Sell Your Property Fast
We set out to solve the problems that Lynchburg area sellers face by giving you a way to see all of your options in one spot, letting you choose whether you want to maximize the price of your sale by listing on the Lynchburg MLS or whether selling fast and simply for cash is more important.
So rather than just telling you what you can list your property for on the market like traditional Lynchburg real estate agents, or making a “take it or leave it” cash offer like many real estate investors, at Linken Investments we’ll give you both a cash offer and the option to maximize the value on the market (with our cash offer in your back pocket).
We’ll quote you a fair price, and we can close fast with cash or We can list your house on the MLS and possibly get you a higher price. Call or Text 434-390-2906 to learn more.