SELLING RENTAL HOMES

Selling a rental home is a bit more

creative than selling an owner-occupied

home. There are a different set of questions

for each type. A few of the "rental home

sale"  questions are as follows:

        1) Is the tenant still in the home?

        2) Will the tenant(s) reside in the home

        during the listing?

        3) If so, will the tenant(s) allow the home

        to be shown? Will there be restrictions?

        4) Is the tenant or tenants well aware

        that they will need to be moving

        relatively soon, and are they

        cooperative?

The simple answer is to have the tenant

move out before the home is listed for

sale. However, is it safe to have the

home vacant for some time. Additionally,

some insurance companies will

only allow a small amount of time for a

home to be vacant before they cancel

the policy.

Another set of questions concerns the

income or capital gains that may become

due, as the property has effectively been

an income-producing business.

Those types of questions are for the

seller's accountant or CPA to answer.

Realtors and real estate Brokers may

or may not know the answers to tax

questions, however, they are obligated

to refer the seller to their accountant or

CPA for the answer.

For discussions regarding the sale of

a rental home, feel free to call BlūSky

Realty. Or, fill out the form below and

include your property address.