Because of the guidelines established by the CDC, many investors are collecting little or no rent as a result of the eviction moratorium. But what should you do if your tenants aren’t paying their rent on time? Unfortunately, as the order drags on, many investment property owners find themselves unable to bear the financial burden of the loss. When it comes to selling real estate, most property owners default to the more traditional method of listing their property on the market, without giving any consideration to alternative methods. When you are already facing the prospect of not being able to collect rent, taking into consideration all of the measures necessary to prepare the property so that it is market-ready can seem overwhelming financially. If you find yourself in this situation, we will discuss how to sell your Atlanta investment property when your renters are not paying their rent.
An Agent in the Real Estate Industry
It is exceedingly difficult, if not virtually impossible, to attract the ordinary investor to a real estate listing in the current real estate market. This is especially true if you are attempting to sell your Atlanta investment property while your tenants are not paying their rent. The fact that your tenants are protected under the order will not go unnoticed. Therefore, be prepared to be absolutely truthful about your tenant’s current situation in relation to the order when speaking with them. Listings present a problem because of the unavoidable showings, which necessitate making arrangements with renters to display your investment property. Prepare to cover the costs of photography and marketing, as well as the costs of repairs and renovations to the property on both the inside and outside of the building. Commissions and costs linked to real estate brokers are also included in this calculation.
When your renters aren’t paying their rent, you have the option of listing your Atlanta investment property for sale by owner, also known as FSBO. The monthly revenue generated by the investment is the most significant piece of information that any buyer will be looking for. According to the rules of the CDC order, you’ll want to be completely prepared to disclose any arrangements you’ve already made with your tenants for partial payments as soon as possible. By handling showings yourself, you also eliminate the possibility of tenants replying to queries that they should not be answering for the benefit of a buyer’s agent or his or her clients. This also eliminates the need for you to deal with them asking you questions during showings in front of your renters, which may be annoying. Having tenants who are at home full-time is a problem because they are typically not working at all in many circumstances. This makes it difficult for tenants to keep their apartments clean in case a prospective buyer comes to look at them.
Buyers who purchase directly from the manufacturer:
Are you looking for a quick, painless, and simple solution? Direct purchasers generally finalize transactions considerably more quickly than regular buyers and purchase property in their current condition. This can result in thousands of dollars in savings for you because there are no updates necessary and no repair fees to worry about! This also includes purchasing the property while being fully aware of your renters’ present status under the order in question. In the event that your renters are not paying their rent, why not sell your Atlanta investment property to a direct buyer? Selling a property to a professional home buyer is a simple and straightforward process. They will write out each and every step of the procedure, and their contracts are usually abbreviated and extremely clear, and they are simple as-is purchase agreements. While offers are typically below market value, there is a good reason for this! By acquiring your property as-is, the buyer is taking a significant risk since your home may be significantly more damaged than you think! This reduces your exposure to the legal hazards associated with typical real estate transactions.
Leave all of your concerns at the door! What is your best option? When your renters aren’t paying their rent, you can sell your Atlanta investment property to Georgia Fair Offer. Sellers may anticipate transactions to be quick, straightforward, and stress-free when working with Georgia Fair Offer. Give us a call or send us an email to discuss selling your investment property and the steps to receiving your tailored, no-obligation offer. We look forward to hearing from you! To find out more, call (404) 855-0944 right now!