Selling a house with or without a Tenant?

Hello, it’s Mike Chobanian with Vegas Capital Realty. I wanted to talk to you today about selling properties, whether if you have a tenant in there versus vacant. So this property here behind me, it’s a townhouse that the owner had it rented out. She’s an investor. We had it for sale with tenant in place, and we were able to get an offer on it for 280,000. Which was great because a lot of buyers don’t want a house or property with a tenant because they want to live in it. And today’s market, a lot of the buyers aur primary orders.

So what we ended up doing, we accepted that offer, for some reason that offer didn’t go through. The tenant left. And we put it back on the market without a tenant, it’s vacant. This time around, we were able to sell it for more money. However, we did have to do some work to bring up the property up to par, make it presentable, better. A lot of the buyers also don’t want a house where they have to do work and spend money on the property.

They want a turnkey property. I’m not saying spend lots of money on it, you know, where it’s not worth it. However, it does have to be presentable. It does have to be moving ready, where the carpet, if it’s bad, I would replace it. If it’s dirty, clean it. Make everything clean, presentable, up to par, and put it up back on the market for sale. After doing that, this property now is going for 300,000. The owner just spent a little money on it. However, she’s going to get a lot more for it after vacating the property and fixing it up. So if you have any questions about selling or buying, give us a call.