Can I put my house on the market with renters still living there?

Asked by Yvette Johnson, Philadelphia, PA Thu Mar 15, 2012

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Joan Scherbin, , Bensalem, PA
Thu Mar 15, 2012
yes, you can keep prenters in the house even though it is sold the new owners will move in and take over the landlord duties
0 votes
Sheri Curci, Agent, Newtown, PA
Thu Mar 15, 2012
Sure you can, simply have the Realtor give notice to the tenant when showings will occur. I do it all the time.

All the Best John Curci RE/MAX Properties 215-757-2889
0 votes
Philip J. Cu…, Agent, Feasterville, PA
Thu Mar 15, 2012
Most of the investment properties in N.E. Phila. are listed with Tenants in place most Investers value the fact that a tenant is in place. The one factor is what options do the Tenants have and this will be stated in the lease,there should also be a prevision in the lease so that it can be signed over to the new owner. The most important thing is to list with a REALTOR that knows about leases and sales of Tenant Occupied propertiesThe office I work out of is at 7942 Bustleton Ave 19152 if you are ever in need of any information please feel free to call me at 267-934-1971.

Philip Cunningham
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700X49
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Thu Mar 15, 2012
Have a clear agreement with tenants - often properties will be listed 30 -60 days prior to the end of the lease term. The tenants will need to comfortable with the showing arrangemnets and it will likely be more cumbersome while they are there but you've got to work within their comfort zone.

Good luck to you and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Ana Barlow, Agent, Philadadelphia, PA
Thu Mar 15, 2012
It is not unusual to list an investment property for sale while it is occupied, and while there needs to be both an understanding and an ideally a written agreement with the renters - does the current lease include a section on this possibility? - this can be accomplished if you did not plan for this possibility.
You really need a written agreement, its in your best interest.

The most daunting part of the process may be getting potential buyers in the property - renters can be difficult. Working with them on a peaceful agreement is paramount. Additionally you want for the property to show well - renters may not be willing to keep the dishes out of the sink or the bath clean - and this can pose a very serious problem when the property is seen. It turns buyers off.

1. Get an agreement in writing with your tenants - offer an incentive!

2. Bring your realtor into the mix and make sure everyone is clear about the showing instructions, process, obligations and NOTICE. This is key.

Ana Barlow
Coldwell Banker Preferred, Philadelphia
anabarlow@gmail.com
0 votes
Marie Souza…, Agent, Centerville, MA
Thu Mar 15, 2012
Yes. Tenants do not like others walking through their space, so be mindful of that. Try offering a small fee for an easy to show & clean property... you would be surprised how a little offering goes a long way.
Web Reference:  http://mariesouzateam.com
0 votes
, ,
Thu Mar 15, 2012
Absolutely! Just be aware of the notifications your tenants need to given before someone enters the property. Best to get this info from your real estate agent.
0 votes
Scott Godzyk, Agent, Manchester, NH
Thu Mar 15, 2012
You culd but it may honder your sale. Investors like having tenants however anyone looking to owner occupy it will want and need to have it vacant at closing in order to get a mortgage to buy it. A good listing agnet can assist you through the pros and more often cons of doing so,
Web Reference:  http://www.ScottSellsNH.com
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