Beware of......TENANTS

 When buying or selling a home that is.

The COVID no eviction stuff is over. There will be some displacement of tenants. And, there will be some trying to displace tenants for any & all landlords.

Ones that wanted to sell when the market was crazy on fire, but couldn't. Ones that wanted to sell to get out of town, but tenants wouldn't leave. COVID.

Now, we will likely see more and more tenant occupied property up for sale. Yay you say? Hah I say.

Texting between sellers & buyers agent.....

Well, it's not usually like the picture. But, selling a property with a tenant in place does create some issues unless you have a wonderful tenant that is happy to go.

SELLERS:

1) Let the tenant know ASAP that you want to sell.

2) Get your original lease out and make sure you had your lease include a caveat about showing if you chose to sell near the end of their occupancy period.

3) Know that showings are based upon the tenants schedule, not the buyers agent.

4) Generally Sundays are no-go for showings....unless agreed to, in writing, by your tenants.

5) Be 100% certain that the tenants will be out at least 5 days prior to closing.

6) Be prepared to offer up whatever it takes, frequently cash, to get them to vacate.

BUYERS:

1) Know that tenant occupied property isn't as well maintained as owner occupied.

2) Have a caveat put in contract that not only will tenants be out 5 days prior to closing, but seller will do whatever it takes (see 6 above) to get them out.

3) Do your final walk-through after tenants have moved out.

4) Avoid tenant occupied properties when house hunting.

I remember when short-sales came around and agents didn't want to show them. Got to the point, you just had to get involved and show them. 

Same will happen if we have an abundance of tenant occupied properties.

And, we got another Seller in escrow! 

Friends of mine that turned into clients of ours that are now in escrow!

#LoveOurPeeps