5 Points to Keep in Mind When Selling Your Multi-Family Property in Atlanta

In contrast to selling a single-family home, selling a multi-family property involves a number of persons, depending on the number of units being sold. A great deal of thought must be given to the transaction by the seller to ensure that they do not cross any legal boundaries in regards to the laws, rules, and regulations of the city of Atlanta, which multi-family property owners are required to follow by. Failure to do so can result in severe financial consequences.

We’ll go over five suggestions for selling your multi-family property in Atlanta in this article.

Look over the lease agreement.

In order to sell your multifamily property in Atlanta, the first step is to open all of the leases and do a full assessment, making certain that you are taking into consideration all of your tenants’ rights. Besides that, buyers will ask to see your tenant files, so you’ll want to double-check that everything is in order before granting access. Some buyers prefer to inhabit one of the apartments, and if your leases are all in good standing, they may be able to go on to another property.

Prepping

In order to compete on the market while selling your multi-family property in Atlanta, you must ensure that the property is presented in its best possible light at all times. Take a photo of the property to remember it. Looking at the snapshot may assist you in focusing on the curb appeal (or lack thereof) that a buyer might notice as they read through the listings on the internet. You’ll want to trim the lawn and shrubs, paint the structure to make it more visually appealing, and make certain that any signage is eye-catching and that the parking lot, facilities, and equipment are in good working order. Pay close attention to the latches on the doors as well. Making a mess of a key will not make a good first impression.

Documents

Providing buyers with documentation that aren’t ready for review and in good order when selling your multi-family property in Atlanta runs the danger of alienating them. Your accounting records must be up to date at all times. Your yearly net operating expenses report, which includes a breakdown of all costs related with the property as well as the income from rents, will be of great interest to investors. This report gives purchasers the option to rapidly compare your properties to similar ones and determine whether or not it is worthwhile to proceed with the transaction. Provide any documentation that demonstrates regular maintenance and repairs, as well as any guarantees that may still be in effect and are of interest to the buyer. You’ll also want to include documentation demonstrating the age of the roof, the key systems, such as heat or air conditioning, and the appliances contained within the units.

Inspections

Before selling your multi-family home in Atlanta, it is a good idea to have an inspection performed. Finding unexpected problems before a sale is the best strategy. When you are aware of the issues that exist, you will be better able to decide how to handle them before getting into discussions. If the buyer decides to stay at the negotiation table after perusing the inspection report and realizes that your property is a fixer-upper, they will almost certainly make an insultingly low offer to compensate for their mistake. When purchasing a multi-family home, it is more probable that your buyer will not be interested in rehabilitating the property and will instead choose to walk away if their inspection reveals a problem that the seller did not disclose to them earlier.

Direct Sale

Sell directly to Georgia Fair Offer — we will buy your property regardless of whether or not you have tenants. At Georgia Fair Offer, we buy homes in their current condition for cash, allowing us to close quickly. There’s no need to be concerned about sprucing up the premises, finishing repairs, or paying holding charges while the property is on the market for a long time. The skilled buyers at Georgia Fair Offer will go over the numbers with you in order to ensure that you agree that our offer is a reasonable one. To allow you to evaluate all of your alternatives, we will also show you what you would receive if you listed your home on the Multiple Listing Service (MLS). Working with Georgia Fair Offer makes selling your multi-family property in Atlanta easy! Call Georgia Fair Offer at (404) 855-0944 or send us a message today.

Kelly

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