Do you own an investment property with tenants in Tulsa, OK? Are you thinking about selling the property while tenants continue to live there? There are lots of reasons why you might want to sell the property.
Perhaps you’re tired of dealing with tenants who complain all the time and cause you problems. Maybe you don’t want to chase down monthly rent payments anymore. Whatever the reason, it is possible to sell your home with tenants in Tulsa, OK.
But first, you need to let your tenants know about your plans to sell the home. After all, there will come the point when prospective buyers will wish to look around the home. According to the law, the tenants have the right to deny them access to see the home. That is why you need to get your tenants’ approval first.
Once you get your tenants approval we’d love to look at the home. So, if your thinking I need to sell my house fast in Tulsa. Then call us today. 918-297-6222
Offer the Tenants a Reward or Incentive
You must offer a reward or incentive to your tenants in exchange for letting you show the property to prospective buyers. Since your tenants might feel uneasy about the idea of you selling the property while they’re living there, you need to make it worth their while.
For instance, you could assist them with their moving costs. Maybe you could refund their first month’s rent or help pay for their first month’s rent in a new Tulsa home. Make the idea of transitioning to a new home as comfortable as possible for them. Compensate them for every inconvenience they will experience from having to move prematurely.
If you can succeed at doing this, you will be able to show the home to prospective buyers and increase your chance of landing a sale. However, make sure you tell the tenants to leave the home looking clean and tidy. Give them additional compensation for doing that too.
It is okay to hire a professional cleaning service to ensure the home is clean. Ask the tenants if they’re willing to leave while the cleaning takes place. Offer them a free lunch somewhere in return for their cooperation. They can eat lunch while the home is being cleaned and when the home is being shown to prospects.
Set the Closing Date on the Lease’s Expiration Date
If your tenants’ lease is getting closer to its expiration date, then plan to sell your home on that day. Notify the tenant that you wish to sell your home, and you won’t be renewing the lease.
This will require a lot of juggling and calculating to ensure everything falls into place by the lease expiration date. You’ll need to complete all the property repairs, property showings, home listing advertisements, and the sale around that timeframe. Meanwhile, your tenants have to agree to let you show prospective buyers around the property and to make the repairs and renovations needed.
Terminate the Lease
You might already have an excuse to terminate the lease of your tenants if they’ve violated its terms and conditions in some way. Things like making late rent payments or consistently disturbing neighbors could be grounds to terminate the lease.
Every lease has an early termination clause. It outlines all the terms and conditions that allow a landlord to terminate the lease and legally remove them. Have your tenants violated your lease? If so, then terminate it and remove the tenants. Then you can sell your home without any setbacks or issues with tenants.
Sell Your Tulsa House Directly
The quickest way to sell your Tulsa house with tenants is to sell it directly to us. We Buy Houses in Tulsa Oklahoma. We can offer you cash for your investment property, even if tenants still live in it.
You won’t have to make repairs or upgrades to your house because we’ll purchase it as-is. The closing will take place within weeks, and then you’ll have a check payment for the full sales price of the property. Your tenants won’t have to move because we’ll take over as their landlord once the sale is completed.
Sell Your Tulsa Home to Tenants
Why go through the trouble of evicting your tenants because you want to sell your house? It would be so much easier to sell your house to the tenants living in it. If they agree to purchase your house, they wouldn’t have to move or make any more rent payments. Instead, they could make mortgage payments and claim ownership of the property.
If, for some reason, your tenants cannot get approved for a traditional loan, you could offer owner financing to the tenants. This would be where they pay you monthly mortgage payments instead of a bank. And if they ever stop making those payments, you would have to foreclose on them in court as if you were a bank. Then you would get back ownership of the property.
Learn the Legal Rights of Your Tulsa Tenants
You should study the legalities surrounding the sale of a home with tenants in Tulsa, OK. A lease is a contract that gives access rights to the tenants. You don’t want to violate the lease on your end because you could be penalized for it. So, make sure you don’t violate your tenants’ rights as you negotiate the sale of your house.
Sell Your House in Tulsa, OK
When you have tenants living in your house in Tulsa, OK, it can be challenging to sell the house. But if you obey the laws of your jurisdiction and work with your tenant, then anything is possible. Find out how you can sell your house in Tulsa OK for quick cash now!
This website does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.