Shane Nichol…, Home Buyer in Shreveport, LA

I want to sale a rental property in Oklahoma City. Without having to evict current renters

Asked by Shane Nicholson, Shreveport, LA Fri Jul 19, 2013

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Answers

9
Shane,

After looking at your homes info, it is highly unlikely an investor will buy it. Not impossible but not likely. I've been listing and selling homes in that very area since 1998 and most investors are looking for less expensive or multi family properties.

Since these are good tenants, an agent will just need to sit down with them and let them know the process and to also let them know their needs and concerns will be addressed. I've dealt with numerous tenants and some are easy and some are not but obviousely it would be helpful to keep the cash flow coming in while the home is being marketed.

As I said, south OKC, Moore and Norman, specifically Moore schools which this home resides in is my specialty. I see where the home was listed before yet there was only 1 photo. I use the maximum photos allowed (20) along with HD video tours to help market my listings. Buyers have told me they will not look at homes unless they have multiple high quality photos. There is absolutely no excuse for using less than 20 photos in a listing plus room sizes so potential buyers can see how big the rooms are.

You have one of the bigger homes in Arbor Lakes. The average is around 1991 square feet so historically the bigger homes in a neighborhood can take longer to sell. Over the past two years there were only 2 sales recorded in the MLS but there have been 5 expired listings and 3 released. Not the numbers you like to see but it makes little things like photos and information even more important.

Sorry to throw all this info at you but the more you know, the better informed you will be and the better you will understand the market and what needs to be done to sell your home. If you need anything else, please let me know.

Russell Benson, REALTOR®
Prudential Alliance Realty http://www.RealEstateOKC.com
405-641-4442
0 votes Thank Flag Link Sat Jul 20, 2013
Thanks, I just wanted to make sure I can honor the existing lesse. They are good people and actually may buy at end of lease I just need to unload the debit.
0 votes Thank Flag Link Sat Jul 20, 2013
Previous post deleted.

Shane, lots of good Realtors with good thoughts below. Just sign up with one of us and we will get to work liquidating this asset for you.

Best of Luck,

Josh
0 votes Thank Flag Link Sat Jul 20, 2013
Hi shane:
It is easy to market the home as long as the renters are willing to go a long with it, it is mandatory that we give them 24 hour advance notice to show the home, and if we get an investor to buy that would be great, but if we get an owner occupant the the renter will have 45 days to find another place and move out unless you have a signed lease, if then they do not have to vacate until that time but if it is month to month that is easy:

If I can answer any questions other than that please call or email me

Thanks
John Phillips
405 413 0791
jphillips81@cox.net
0 votes Thank Flag Link Fri Jul 19, 2013
If your current tenant has a lease, the new buyers will usually honor the lease. It is sometimes difficult to sell a house with renters because under the Landlord Tenant Act a 24 hour notice to show the house is required if the tenants request it. I do have investors who buy rentals and I would be happy to do a FREE market analysis for you. You can give me a call at 405-808-7922 or email me at carolynsims@kw.com for more information.

Carolyn Sims
Keller Williams Elite
405-808-7922
Web Reference: http://www.csimshomes.com
0 votes Thank Flag Link Fri Jul 19, 2013
I'd be happy to do some research and set a time to talk specifically about what it will take to get your home sold (pricing, property conidition, marketing, etc.) If you're interested in that, just call (405-259-6565) or email (ryan@showmeokc.com) me at your convenience.
0 votes Thank Flag Link Fri Jul 19, 2013
11132 Arbor Lake Dr. Oklahoma City. 4/3 2600 sq/ft. Built in 2010. Bedroom and bathroom w/ walk in closet upstairs and remote master with dual vanity separate shower and tub w/ walk in closets. All granite and tile floors. Paid $223K currently rented for $2600/month. Any suggestions ?
0 votes Thank Flag Link Fri Jul 19, 2013
While it can be tough selling a property with tenants there, what you're asking can be done. You'll just be marketing to investors though, who would love to buy a property with tenants already in place. That eliminates the owner-occupied market.
0 votes Thank Flag Link Fri Jul 19, 2013
Shouldn't be a problem...hopefully your renters won't mind showing the property.
0 votes Thank Flag Link Fri Jul 19, 2013
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