In the long run, if you can deal with the frustrutions that sometimes come with renting, you will probably make more money on your property by renting. You will need to refurbish it every time a renter leaves. If you are getting enough money to offset dealing with that, you are good. I always keep my income from my rental properties separate so that I can see exactly how much is going in and how much is going out. That way I don't have to calculate each year to know what I have made. It also makes it easier for tax time.
Our company handles rentals if you would rather not deal with tenants.
That sounds like what I would call a "free look". The developer is banking on economic recovery and increasing property values to make what might be a nice profit with little risk and no commitment to buy unless they choose to do so at the end of 4 years.
While 6 months might be reasonable while he/she does a feasibility and engineering study, I would expect a sizable non-refundable deposit before tying up my property for that period of time. It's a common strategy that has yielded big rewards for local developers, many of whom never actually purchase the property but flip their contract "option" to another developer for a tidy sum without ever spending more than a small sum on a study.
You would be wise to get good counsel from an experienced Realtor and real estate lawyer before tying up your property with a deal like this.
Keller Williams Realty
I don't look at it as good vs. bad time to sell. I look at it as need based. If your situation calls for selling or renting, then that's what you should do. Just as a buyer will buy when it meets their needs. However, it is an appealing time for many to buy since mortgage rates are still low and there is still a good selection of inventory to pick from. You stated your home has all of the updates, so that is a big plus in your corner for selling. Good luck and let me know if you need any assistance.
Keller Williams Realty
7231 Forest Ave. #303
Richmond, VA 23226
10220 Richmond Road, Glen Allen Home for Sale Â Welcome to this updated, and lovingly maintained Glen Allen, Va. Â home. Located on a corner lot, this 3 year home offers peace, quiet, and a spacious
While every Realtor will tell you that pricing the listing right is key and it is, I've found that you have to make the home stand out from the competition.Â Research the comparable properties sold,