Home Selling in Waunakee>Question Details

Concerned Se…, Home Seller in Waunakee, WI

We have been renting our home, and now need to sell due to non-payment by renters (family). We now live in another state. Any suggestions?

Asked by Concerned Seller, Waunakee, WI Wed Dec 21, 2011

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Without knowing your whole situation its a little hard to answer your question completely. For example, how long have your rented it? Your tax advisor may tell you to rent it longer and you might be able to write off a loss (if there is one). Demand for homes to rent is up and you may be best to keep doing that. Maybe a management company would be a good option for you too. If selling your home is definitely your decision it can still take 6 months, maybe more. I would be glad to talk to you further about options of selling or renting. I have been in the business for 28 years and listing the home is not always the best thing for my sellers. But you will have choices and make the decision in the end.
Web Reference: http://www.suepederson.com
0 votes Thank Flag Link Wed Dec 21, 2011
Hello Concerned Seller,
Decisions are not easy when family is involved.
I'm not sure of what you are looking for suggestions on (ex: should you sell with them there, should you evict them, how do you sell when you live in another state etc.).

First and foremost i suggest you work with a full-time Realtor. Among many other things, you will want someone that can service your listing above and beyond the typical listing. They should be able to drive by weekly to check on the home; have the resources to complete any maintenance, clearing, securing of the property as necessary; provide you with weekly status reports (including marketing efforts and results, market updates, showing feedback, etc.). It seems somewhat basic but you'd be surprised at the number of Realtors that say 'sure i can do that' but then don't.
There are pros and cons to selling with 'renters' occupying the property and with selling a vacant home. You'll have to consider the family relationship in the decision to have them move first, or to have them stay while the home is marketed.
Have you thought about possibly finding another renter? I'm sure you've gone thru the numbers but with rental rates so much higher than home ownership in this area it may make sense to find another renter.

I hope that helps.
I have worked with many sellers in your exact position and I would be happy to answer any additional questions you may have, hash out pros and cons, run through the numbers (including a market analysis if you like).
Please don't hesitate to contact me
0 votes Thank Flag Link Wed Dec 21, 2011
The best option to get it sold quickly is to get it staged as if someone were living there. It is usually dificult to show a home while it is bng rented because the renters don't typically cooperate. Since they are already not paying you, it sounds like it could be a good time to cut your losses. Here is a link (http://www.madisonrealestateconnection.com/?p=628) to an article I wrote about selling a vacant home. Give me a call or email me and we can further discuss in detail the options.
Web Reference: http://www.homes4salewi.com
0 votes Thank Flag Link Wed Dec 21, 2011
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