Home Selling in 92104>Question Details

sam1723, Home Seller in San Diego, CA

I want to sell my condo. It does have tenants, their lease just expired and they are now paying month to month. How do I start?

Asked by sam1723, San Diego, CA Tue Mar 12, 2013

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28
Hi Sam,

If you can keep your tenants on month-to-month, a new investor buyer could offer them a new lease, but it also opens it up to owner occupant buyers who want to live in the unit. Depending on how long the tenants have been there, you'd just give them the appropriate notice to vacate to accommodate a owner-occupant, if that's the offer you accept. Just have your listing agent let agents know that close of escrow will have to coordinate with the more-out date of your tenants, and put it in writing in your counter offer. I would not have them sign a new lease. It's a seller's market, why lose out on what could be your highest offers from owner occupants?

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421
Lic # 01443391
0 votes Thank Flag Link Thu May 23, 2013
Sam, I would ask your tenants if they'd like to renew the lease. There is a large appetite in the San Diego market for Investors who want to buy homes that already have tenants. That might be a lot easier on you, if they want to stay, than trying to get them out and get the property ready in "Open House" condition.

Mr. Credit
Web Reference: http://www.MrCredit.org
0 votes Thank Flag Link Thu May 23, 2013
This is not a time for mistakes. Find out if your tenants have already secured another condo already. Sure, you probably do it yourself but do you know what it takes to sell successfully? Are you looking for the ideal Real Estate Agent to help you with the entire transactions while you sit back?
0 votes Thank Flag Link Thu May 23, 2013
Dear Sam,
You should first give written notification to your current tenants about your plan. Lease contracts normally allow viewing for potential buyers, but please do explain to your tenants what they might expect when the property is going to be sold. Your tenants then should be able to make the decision to stay during the sale process, or vacate. An empty property is much easier to sell then one with tenants, particularly if the tenants are unhappy about the sale.
0 votes Thank Flag Link Sun Mar 24, 2013
Hi Sam,
You need to give your tenants 60 days notice of your intent to sell the condo. I would suggest that you get the tenants out first before putting the condo on the market. It is always easier to arrange showings, etc... with out a tenant. If that is not possible I suggest that you have a Open house Showing time on the weekend between 12-4 and ask the tenant to be gone during those times. Have it set-up so that you will have a lot of buyers in the condo during those times. It is true that you might not have to do any showings, but in order to get the highest and best price I would have at least a one time "event". Also, have you Realtor call all the local agents to pre-advertise and ask if they have any buyers who would be interested.
Best of luck to you
It's a great time to sell
Thanks
Janet McCarthy
Premiere Homes
jmccarthyhomes@gmail.com
858-243-5719
0 votes Thank Flag Link Thu Mar 14, 2013
It's Agaist the CA Law to have a open house when tenants are leaving on a house or condo. If the tenants don't like to be bother you should respect that. If the realtorr decides to go inside the house, call the cops and he/she will be arrested. The lanflor cannot placed any house for sale while tenants are leaving inside the property. And you stupid real estate agents know it. Rwad your laws. Plus in Ca is 120 days notice.
Flag Wed Jun 25, 2014
Hi Sam,

You have plenty of realtors here to choose from that can do a great job in advising you on the action steps to take to sell your property. My advise is to contact 3 of them and hire the one that you like best and think will do the best job to look out for your best interest.

You will want to get a seller's net sheet so show you how much your home is worth vs. how much you owe and it will also tell you how much money you would walk away with at close of escrow based on a projected sales price. Sometimes people are surprised by what they find and decide not to sell at all. Or, they learn that they need to short sale becauset they owe more than the property is worth. Whatever the case may be, I would love to talk to you about what I do with my sellers in this market to make sure they do not miss out on tens of thousands of dollars.

Kevin Sanderlin
Keller Williams Realty
Cell 858-212-4702
kevinsanderlin@gmail.com
0 votes Thank Flag Link Tue Mar 12, 2013
In California you are required to give the tenant 60 days notice to move. That changes to 30 days once you have a contract. Make sure you have proof of notice either by certified mail receipt requested, personally handing it to him, e-mailing, or hanging on the door. There are specific forms that I can provide you. You can reach me at 619-994-8447
0 votes Thank Flag Link Tue Mar 12, 2013
Hello,

Want to sell a home in North Park? No problem! As others have shared, it will be gone in a day! You just need to pick a Realtor to work with. If you haven't already selected someone, I'd love a change to talk with you...I live nearby and know the community well.
0 votes Thank Flag Link Tue Mar 12, 2013
Ton's of advice here (and solicitations for business; can we not lead with that?), so just a quick addition. Inventory is really low here, so you don't even have to show it if you don't want to. You can show it with an accepted offer. You'll probably get more investor offers though, and they could be lower. To get more offers, you can have one open house & be sure your agent advertises it well. It's a great way for buyers to satisfy themselves and feel good about submitting an offer, so less chance of a cancellation in escrow. It's also a great way to get as many people in the door, without inconveniencing your tenant, and not all tenants are cooperative. If a buyer can't make the open house, and to lessen the chance of them canceling when they do see it, post a lot of great photos in the MLS (up to 25, maybe let your agent do this if you're not great at it, they're important). Your can let your tenant know you'll be selling, and in exchange for not showing all the time while they're still living there, you'll need them to clean it and declutter for photos, and to keep it decluttered during escrow. Otherwise, and if the original lease includes this, you're entitled to enter the unit with a 24 hour notice anytime anyone wants to see it. So, you do have options, just read the lease to see what you can and can't do as the landlord/seller. Hope this helps!
0 votes Thank Flag Link Tue Mar 12, 2013
Ton's of advice here (and solicitations for business; can we not lead with that?), so just a quick addition. Inventory is really low here, so you don't even have to show it if you don't want to. You can show it with an accepted offer. You'll probably get more investor offers though, and they could be lower. To get more offers, you can have one open house & be sure your agent advertises it well. It's a great way for buyers to satisfy themselves and feel good about submitting an offer, so less chance of a cancellation in escrow. It's also a great way to get as many people in the door, without inconveniencing your tenant, and not all tenants are cooperative. If a buyer can't make the open house, and to lessen the chance of them canceling when they do see it, post a lot of great photos in the MLS (up to 25, maybe let your agent do this if you're not great at it, they're important). Your can let your tenant know you'll be selling, and in exchange for not showing all the time while they're still living there, you'll need them to clean it and declutter for photos, and to keep it decluttered during escrow. Otherwise, and if the original lease includes this, you're entitled to enter the unit with a 24 hour notice anytime anyone wants to see it. So, you do have options, just read the lease to see what you can and can't do as the landlord/seller. Hope this helps!
0 votes Thank Flag Link Tue Mar 12, 2013
There are several steps you should take with your current tenants.
Figure out with them, when and how showings o your condo can happen, so that once you list your condo
with a local experienced Realtor (for sale? or rent? --- does not matter just wondering) so that there are
no complications. Remember that you want the condo to be picked up and show nicely when there is a
showing. So you may narrow the days and times of showings, and the Realtor will be able to add that to
the listing so that most agents will not book a showing unless during those agreed upon times.

And you want to also discuss with your tenants what they need to do so that the unit shows well.....

Then you connect with a local Realtor, if you need a recommendation I gladly send one your way, and the local Realtor will then be able to provide you with a market evaluation for the sale or the rent, depending on what you decide to do, to market the condo competitively in your local market.

Let me know if you need a recommendation...
Good Luck to you

Sincerely yours,
Edith
EdithSellsHomes@gmail.com
YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Tue Mar 12, 2013
Hello.

I am a Realtor/Investor and work with these situations daily. Give me a call so I get a crystal clear picture of what you want to accomplish and when. With that information, I can help you map out a plan that will help you execute with the desired results. I may be interested in your condo myself, keeping the tenants intact, if the numbers pencil out and meet my investment criteria. If not I have a list of many other investors who may be interested as well.

It all starts with a simple, no obligation phone call. I hope to hear from you.

David Crowell
RE/MAX Solutions
Realtor, SFR, CDPE, CIAS
DRE Lic# 01846329
619-888-1688
crowellregroup@gmail.com
0 votes Thank Flag Link Tue Mar 12, 2013
If your condo is 92104: you have seen my signs all over : Gail Feldman Group, Keller Williams ( currently having listings on Felton street, Redwood Street, Bancroft Street...I actually have a buyer for you now from marketing those listings: 619-840-9701.
0 votes Thank Flag Link Tue Mar 12, 2013
I'd be happy to help you with the sale of your rental property. Are you planning to let the tenants know the property is for sale? If so you should discuss the arrangements for showing with them. Find out how much notice they want (most leases call for 24 hours but some tenants are more accommodating) . You may also want to offer them some financial incentive for their cooperation. A potential buyer may also want the condo as a rental investment and be happy to allow the tenants to stay on.

I know your area very well and would welcome the opportunity to discuss what I can do to help you in the sale of your property.

Jill Miranda CA DRE# 01413799
Pacific Sotheby's International Realty
619-248-1431
Jillmiranda@jillmiranda.com
0 votes Thank Flag Link Tue Mar 12, 2013
Sandra Hatherley, Realtor, San Diego, Ca. 92117

Hi,

You have several choices. If they have been there over 1 year you must give them a 60 day notice. If under a year you can give them a 30 day notice.

If the tenants are okay to show while they are still living there you can give them a 30 day notice once you are in escrow as long as the buyer will be owner occuping the property. You would probably need to give the tenants some proof of contract or escrow.

If the tenants are still in the property you may have to give them a 24 hour notice to show or reduce their rent somewhat for the priviledge of showing the property with them being more flexible.

Really, you need to consult with an experienced Realtor to look at all the details of the situation and advise you, depending upon your motivation and situation, what the best route is.

The answers to these seemingly simple questions are always a little more complex than it appears on the serface. Let me help you determine the best path for you! I always do what is in my client's best interest!

Sandra Hatherley
Century 21 1st Choice
#619.887.6091
0 votes Thank Flag Link Tue Mar 12, 2013
Sam1723,

Start by re-reading the terms of your lease as that will set the stage for how you show and sell the property. Hire a REALTOR to give you a comparative market analysis of your condo. Discuss with them the pros and cons of the listing and how to best work with your tenants to make it a smooth transition. There are many issues to consider.

Kind Regards,

Marcie Sands, REALTOR
Simply The Best Real Estate Co., Inc.
760-644-1562
0 votes Thank Flag Link Tue Mar 12, 2013
Selling your place with tenants i-n it becomes a situation that needs to handled well to avoid any -complications with viewings and/or occupancy once escrow closes. I have a LOT of these types of situations with my Sellers and we have been able to get the tenants cooperation and get their properties sold, no problem. What I typically do is get the tenant to allow us to get a really good set of photos in exchange for a listing that indicates, "shown with accepted offer only". This accomplishes 3 goals: 1) Anyone that gets access to the property is an ACTUAL buyer who you have already agreed to terms with, 2) It shows good faith to your tenant...encouraging their cooperation, 3) It eliminates the "looky loos"! This is a VERY hot market right now so your place WILL sell with this scenario. If you'd like to take you can reach me at 619-519-3287. I know EXACTLY how to handle this smoothly. Additionally my site is http://www.remickhomes.com if you'd like to learn more about me. GOOD LUCK!
0 votes Thank Flag Link Tue Mar 12, 2013
If the tenants have been ther for more than a year and are on month to month you would have to give them 60 day notice to terminate.

They are only required to give you 30, but since California is not a great landlord state the rule for you is the more difficult 60 day.

You could enter a long escrow, or just have any remaining tenancy go to the new owners.
0 votes Thank Flag Link Tue Mar 12, 2013
You can start by taking a look at where the current market conditions are through a local agent that knows the area very well. That way you can price the condo at market to sell. As far as your tenants, there are several ways to handle that scenario and the fact that they are now month to month is an advantage. To find out more, feel free to contact me to discuss how you can get started.

Best Regards,
Samantha Jarjees
0 votes Thank Flag Link Tue Mar 12, 2013
Hi Sam, I think you first need to decide on one of two scenarios. Do I want to sell the home with the tenants still there? Or do I want to sell the home vacant? Each has its pluses and minuses. If you would like to discuss your situation, give me a call and we can run through your options.

Thanks,
Ryan Bourda
Coldwell Banker
619-977-0304
ryan@teambourda.com
0 votes Thank Flag Link Tue Mar 12, 2013
I am not familiar with tenant laws in San Diego, so the first thing you need to do is find out what your rights are in terms of showing the property if they will live there during the marketing period, or how to properly evict them if you intend to sell it vacant.

Someone who is knowledgeable in that area should be able to help you out. I have seen John Arendsen post a lot and he seems very knowledgeable and is in the area. You may want to contact him - http://www.trulia.com/voices/profile/Real_Estate_Pro-Encinit…
0 votes Thank Flag Link Tue Mar 12, 2013
Hi Sam,
I would be happy to assist you. I have worked in several situations similar to yours. I would start by letting your tenants know that you intend to sell the property. You should give them a formal 30 day notice, although, depending on the situation, you could let them know they can stay until the close of escrow, if they want (keeps rent coming in throughout the process). We would work with them to arrange showings that would be beneficial to all. Sometimes, the owners may offer a discount on rent for the tenants to be accommodating to showings and to keep the house clean and presentable. We can talk more directly. Feel free to contact me using the information below and we can get started and get your home on the market ASAP.

Thanks!
Sinead McAllister-Clifford
Real Estate Broker/ Realtor®
Trulia's #1 Recommended Broker in Oceanside!

McAllister Homes Real Estate
Residential Sales & Property Management
http://www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
brokermcallister@gmail.com EMAIL
0 votes Thank Flag Link Tue Mar 12, 2013
Properties show better and are less drama to sell when they are vacant. If you don't want to give your tenants notice to move you can legally show you condo to prospective buyers with a 24 hour notice to the tenants.

If you need assistance I have almost 18 years experience selling and property mgt. I only focus on these two areas.

MaxCoates@gmail.com
0 votes Thank Flag Link Tue Mar 12, 2013
Hello Sam1723,
I will be happy to assit you selling your investment property.
Please contact me at direct at (858)231-5265.

Sincerely,

Yukiko Kitamura
CA DRE#01881909
Keller Williams North County
http://www.sdfindhomes.com
0 votes Thank Flag Link Tue Mar 12, 2013
I would be happy to help you with getting started and working with your tenants. Please feel free to email or give me a call.

Thanks,
Ken Schwartz
Broker Associate REALTOR®
DRE# 01854235
KM Realty, Inc
2801 Camino del Rio South #201
San Diego CA 92108
Cell: 858.366.3093
Fax: 888.470.5928
ken@kmrealtysd.com
http://www.kmrealtysd.com
0 votes Thank Flag Link Tue Mar 12, 2013
Hi Sam. Well it is wonderful that the lease it now up. Now its time to speak to the tenants and get them on board to actually work with you and not against you. Give me a call to find out tips for selling in todays market for top dollar with tenants in place.

Alexander Pfleger
Broker/Owner
Metro/Coastal Areas
Direct Capital & Real Estate Investments
858-483-4687
0 votes Thank Flag Link Tue Mar 12, 2013
Feel free to call me and I can take care of the whole process for you.
619-990-3179
http://www.BrandonLong.com
0 votes Thank Flag Link Tue Mar 12, 2013
Engage a local Licensed Real Estate Broker by clicking "Find a Pro" in the header of this website. http://www.naplesrealestateguys.com
0 votes Thank Flag Link Tue Mar 12, 2013
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