I'd like to sell my multi-family in 07104, but I'm concerned about showing the occupied units. I don't know how quickly my property

Asked by Newark Landlord, Newark, NJ Sat Feb 25, 2012

will sell, and I wonder how disruptive the showings will be to my current two tenants. Does anyone have any advice on how to plan for this? Also, if you have been successful in selling multi-families (5 units) in my area, feel free to contact me as I'm also looking for a broker.

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7
Murphy Wilson, Agent, Maplewood, NJ
Mon Feb 27, 2012
I have successfully sold multi-family properties in this area and I agree that it is critical to meet with the tenants and landlord to review what will be happening. It was my experience however, that agreeing to hold an "open house" on specific days ( a week day + a weekend day) was very effective and minimized the disruption on the tenants. They know when and for how long and even if only some of them participate it keeps the stress levels down for them/you/the landlord. If you have any other questions or concerns please contact me directly.
0 votes
G Alexander, , New Jersey
Sun Feb 26, 2012
I am a private investor that would be interested in purchasing your property. contact me with more information
Gershon
0 votes
Rose Wagner, , New Jersey
Sun Feb 26, 2012
Respectfully speaking I am an experienced multi unit seller First importance is to only show the property to pre-qualified serious buyer, also be honest and conciderate to tenants ask all which is a better day and time for them ask them to possibly talk amonst themselves and give you 2 days that showings would be acceptable and if you need any other questions answered plkease feel free to contact me I would love the opportunity to service you Rose Wagner!
0 votes
Paul E. Wash…, Agent, Livingston, NJ
Sun Feb 26, 2012
Hello Newark Landlord. As a Multifamily Advisor experienced in marketing/selling Northern New Jersey apartment buildings, I sugesst considering the following steps to reduce level of tenant inconvenience.

1) Implement a 24-Hour notice requirement to allow for time to coordinate showing w/ tenant(s);

2) Rotate showings between tenants. This limits the volume of buyer traffic flow per unit thus lessening tenant inconvenience.

3) Limit initial showings to one unit type + utility room. Indicate the other will be available for previewing upon submission of a written offer with Proof of Funds.

These parameters set the stage for a controlled screening process of which SERIOUS buyers will respect and abide by. Should you require further advice or assistance, kindly contact me privately for further discussion.
0 votes
Wayne Odenbr…, Agent, Mountain Lakes, NJ
Sun Feb 26, 2012
You are not going to get a Buyer to sign a contract without showing tthem all the Units.
Would you Buy, sight unseen?

The key is to be respectful of the Tenants.
Give them some notice.
Make it worth their while to cooperatre
0 votes
Paulo Quinte…, Agent, Elizabeth, NJ
Sat Feb 25, 2012
I am with you Gary, in did our firm will be the most well positioned and well experienced to sell this or any multi family home in newark and souronding areas.



Paulo Quintela
Exit Realty Lucky Associates
290 Ferry st  - 2nd floor
Newark, NJ 07105
Phone: 908-962-8047
Fax: 973-817-8588
pquintela@hotmail.com
Web Reference:  http://luckyrealty.com
0 votes
Garry Edwards, Agent, Newark, NJ
Sat Feb 25, 2012
The inconvenience to your tenets can keep to a minimum by keeping informed of what is happening with the sale and having an agreement that they will be noticed in advance (usually 24 hours) of any showing.

Me and my brokerage have been very active in North Newark area. Please contact me if I can be of any assistance.

Garry Edwards
Exit Realty Lucky Associates
973 493-0204
0 votes
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