Once you have made the decision to sell your investment property, you’ll have a long list of items to check off your list to ensure your property sells.
Buying or selling a house is a huge task, and there are a lot of things to remember and do before the final settlement is reached. Fortunately, you will have the help of an experienced real estate agent to talk you through the process, as well as that of a solicitor who will ensure the legal paperwork is filled correctly.
So when you are looking for how to sell a house, whether it is an investment property or not, keep in mind that you won’t have to do all the hard work yourself.
Key steps in selling an investment property
Selling your home and selling an investment property have a lot of overlap, so if you have done the former, you’ll be well prepared for the latter.
For example, a real estate agency will play a key role in the sale process. They will offer you tips for selling your house, help you determine the best option for selling (private treaty or auction), and will create marketing marketing, host open homes, and negotiate a final price.
Additionally, your choice in real estate agent can make a big difference to how much you receive at the final sale. An agency such as Upside charges a fixed fee, so you know exactly how much you will be paying for services, whereas a traditional agency will typically charge a percentage of the sale price, as well as extra fees for things such as marketing materials, so you can easily end up paying more than you had anticipated (and budgeted for).
As you are selling an investment property, it will also be vital to meet the legal requirements of working with existing tenants. These laws vary from state to state, but it generally means you must warn them you are selling the property, work with them to arrange reasonable times for open homes, and give them the legally required amount of warning to vacate once you have sold (although if their lease is not yet finished, the new owner must allow tenants to remain until it is).
Selling your house checklist
We have created a complete checklist for what to do when selling an investment property to help move you through the process. You can either refer back to this page, or print out our PDF to keep with you as you make the sale.