Home Selling in Salem>Question Details

Aussie, Home Seller in Salem, OR

who knows of a way to sell a four-plex without disturbing tenants?

Asked by Aussie, Salem, OR Sun May 17, 2009

if at all possible would rather not disturb tenants with multiples of prospective buyers "having a look"....
This is such a disadvantage to both me as owner, and also to purchaser.........

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We have a few rental units and most of them are the same way, we list the property and request offers subject to show after offer approval, this way you only get real committed buyers (Usually investors) and avoid getting your tenants excited about and keep them from moving out due to uncertain situations, Investors know the process and they are ok with this offers subject to interior inspections.
Please let us know if we can help
0 votes Thank Flag Link Sat Dec 28, 2013
selling to an investment that is looking for cashflow might be your best option.
0 votes Thank Flag Link Sun May 17, 2009
In addition to what Craig stated below, I would also suggest being intrusive one time and taking interior photos. You can save yourself and your tenants a lot of headaches over failed real estate transactions, if you let prospective buyers see some interior photos.

That way a potential buyer can get a general idea of the type of the interior the property has. An older updated unit will command more than an older non-updated unit. It is not uncommon for buyers to terminate a transaction upon viewing the property because it is not updated.

Try and eliminate some of that aspect with interior photos.
0 votes Thank Flag Link Sun May 17, 2009
Keeping prospective buyers from disturbing tenants may be a little harder to do if you're not represented by a broker. In any case, however, the suggestions below are all excellent. Having a broker will just make it easier for you to accomplish these things. A few other things that can be done:

1) Not displaying the property's address outside of the local MLS's database
2) Instructing buyer's agents and their clients not to talk to, or otherwise contact, tenants
3) Not putting a sign on the property

What most agents in the Salem area do to accomplish what Ryan and Chun suggested below is to write in the MLS listing comments for other agents: "write offers 'subject to interior inspection'." This is a phrase that essentially means that buyers will not be able to tour the interior of any of the units until their offer has been accepted. It also means the buyer can back out of the transaction if they don't like what they find when they conduct that interior inspection.

Best of luck in your efforts.

Craig Loughridge
Bryson Realty
Web Reference: http://www.bybryson.com
0 votes Thank Flag Link Sun May 17, 2009
In most cases when selling a Multi-Unit, tenant occupied property. You always want to show respect for your tenants, after all they are paying the bills. You really want to have zero vacancy factors during the sales process, since this could affect the value of the property.

The Listing Agreement should read:
1.) Don’t disturb tenants!
2.) Present all offers subject to: Walk through inspection. Include all documentation requested. This way you will be cutting off many unqualified buyers and there are plenty out there.
3.) You will keep your tenants if the transaction is not closing
4.) Your tenant will appreciate you consideration for them.

0 votes Thank Flag Link Sun May 17, 2009
I have a listing right now that is an owner occupied duplex. The owners of course are eager to sell & happy to cooperate. in order to not disturb the tenant we have pictures of the other apartment on a disc. i can copy this for anyone who is interested in the property and would also agree with the advice from the other agent that the apartment will only be shown with accepted contract. As you have to show a potential buyer something,maybe you could take turns with which apartment will be shown. Just show each apartment to every fourth buyer.
0 votes Thank Flag Link Sun May 17, 2009
List the property for sale and to put in the listing that there are to be no showings until there is an accepted offer. Let me know if you have any questions or need any help!
0 votes Thank Flag Link Sun May 17, 2009
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