Not only could you sell it to someone who hopes to occupy the place come December (just make this one of your contingencies), but you could also sell it as an investment. I have vast expertise in both areas. We can bring you investors and owner occupants who are interested in buying your condo. Please feel free to reach out to me at any time.
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2) you have to talk to the tenant and actually see the unit to see how they keep the unit
3) find someone who is an expert in your neighborhood.
4) review your lease to see if any languages specifically addresses this, i.e. clause 17.e. landlords may terminate a lease with 120 days notice or you may show the unit with in last 60 days of the lease with proper notice.
5) never get a suburban agent a city listing. Chicago agent hate to call agents who 1. will not be able to show up, which they will have to since it is occupied, or 2. will put a lockbox on property with an electronic lockbox, for which no city agent had the electronic key. Real estate is LOCAL!!!!
For the tenants livg there now, you ask them for four good days of the week and time. Thats when we will set up all the showings. Feel free to call me any time.
Thanks Anthony Giannone
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Thanks Anthony Giannone
Broker for Kettley realtors
Good Luck :)
buy, but they weren't in a position to do so. We negotiated an early termination of their lease. You
want to make sure it is done correctly. We ended up getting into a bidding war because the market is
so hot, and we got above list price! If you want to talk, feel free to contact me @ 312-860-8989.
Although I'm not the first to respond and give a more original response I hope you include me should you be interviewing a Realtor.
You are definitely able to sell your rental property mid-lease. The big thing you have to be cautious of is cradling your tenant throughout the process as you will heavily rely on them to make this process easy - they hold the upper hand on making this a very easy process or an awful one.
The first thing to stress is that in no way will his lease be affected and the new owner has to honor his or her written lease fully - they can not raise the rent mid-lease and they can't kick them out. Most tenants assume the worst and . The next step would be having your tenant accept the fact you will be having showings. I've worked with many landlords and their tenants and have a great rapport with everyone. I introduce myself to the tenants, I talk about what they will encounter along the way and I make sure they know that their life will not be affected by these showings. Because most leases say a landlord can only show the property for sale or lease during the last 60 days of their lease term you may have to entice your tenants with a reduced rent in order for them to be ok with a Realtor entering for showings.
There are a few more things to juggle BUT the good thing is that I absorb a lot of this work in order to make you and your tenants's lives as easy as possible.
Call or email me an I would be happy to chat today about next steps and what I can offer you as your Realtor.
3101 N. Greenview Avenue, Chicago, IL 60657
309-269-3499 CELL | 773-305-0480 FAX
If you have a lease that is in place now, you must contact the tenant and let them know you want to put the place up for sale, and ask them if they are interested in buying it. If not, then when you list the property, the lease goes with it. The new owner will have to negotiate with the tenant if they want the tenant to leave or honor the completion of the lease. There is a market for rental property that is already occupied to avoid the new owner from having to look for a new tenant.
Let me know if i can be of further assistance!
Now is the time to work with a good broker. While interest rates have jumped a point int the last 30 days now is still a good time for that new homeowner. Out of curiosity have yous spoken to you tenant to see if he or she would be willing to move out a little early? Many people like to be in their new homes before the holidays. Not that homes don't sell through the holidays.
Like everyone says, yes you can. However I would only put it on the market if you need to dump it or sell at a price that only attracts investors. You will get a far better price if it's purchased by an owner occupant. If you can hang on a few more months do so. Plan to have it hit the market October 1st and include verbiage that the unit is rented through 12/31. That time frame should satisfy most buyers.
If you need to discuss any further please feel free to call or email me.
Ian Halpin / Broker
Jameson Sothebyâ€™s International Realty
425 W. North Ave. / Chicago, IL 60610
O: 312.335.3220 / F: 312.229.9190 / C: 773.531.4479
email@example.com | http://www.jamesonsir.com
You would need to coordinate with your current tenant so they are in agreement with showings, etc. There are tactful ways to persuade your tenant to agree and even help you sell the condo.
You are going to have a short period to find the buyers with kids or expecting as most want to have a place by August for the school year. The next group of buyers will be those who are looking to buy before winter. Then there are another group, so on. It's important to speak with an agent who not only understands marketing properties for sale, however they should be on expert on pricing. This agent will know how to market and price properties using absorption rates, inventory, comparable sales, current competition, market trends, etc.
Sohail A. Salahuddin | Founder and Team Leader
Innovative Property Consultants Group | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Extraordinary Service For Extraordinary Lives"
You may want to talk to your tenant as well. Maybe they will let you give them a 60 day notice and they will move. It might work well for them if you do not sell it right away they may need to be prepared to move also.
Give me a call if you would like to discuss options.
Patrick Jeffrey Realty
Prudential Rubloff Properties
Your chances for a successful sale will increase if your rent is at or above market rates and if your tenant is tidy and flexible with showings. We've sold properties with great tenants who were very cooperative (one sold today!) and others with very uncooperative tenants who made it difficult to show and didn't clean up before we were coming. There are ways you can incentivize your tenant to help them cooperate.
Eric Marcus Real Estate Group
Your Real Friend In Chicago Real Estate
Baird & Warner