If you’re a homeowner in Alabama who needs to sell your house but can’t because you have tenants, don’t worry. You’re not alone- Many homeowners find themselves in this position. In this blog post, we’ll give you some tips on how to sell your house with tenants in Alabama. Keep reading for more information.
The Benefits of Selling Your House with Tenants
There are a few benefits to selling your house with tenants:
- It’s generally easier to sell a house with tenants in place, as potential buyers won’t have to worry about finding their own tenants.
- Selling a house with tenants can help you fetch a higher price as buyers will be willing to pay more for a property that already has an income stream in place.
- Selling your house with tenants can help you avoid the hassle and expense of having to evict your current tenants.
The Risks of Selling Your House with Tenants
Of course, there are a few risks to selling your house with tenants as well:
- You may have difficulty finding a buyer willing to work with your current tenants.
- If your tenants are not up to date on their rent or if they have caused damage to the property, it may be challenging to sell your house.
- If your tenants decide to exercise their right of first refusal and buy the property, you may not be able to get top dollar for your house.
Determine If You Can Sell Your House with Tenants
You first need to determine if you can sell your house with tenants, which involves looking at your lease agreement to determine your tenant’s rights. If your lease agreement says that the tenant has the right to occupy the property for a certain period of time, then you will likely not be able to sell the property until after that timeframe has expired. However, if your lease agreement is silent on the issue of whether or not you can sell the property, you may be able to sell it with tenants in Alabama.
Alabama Eviction Laws
An eviction process begins with the landlord terminating the lease or rental agreement. In order to evict a tenant, the landlord must have legal cause for doing so. Legal cause in Alabama includes failure to pay rent, violating the lease or rental agreement (including lying in the application process), and engaging in certain illegal activities.
The landlord must give the tenant notice before terminating the lease. All of these situations require the landlord to give a seven-day notice in Alabama. However, the tenant’s options will vary based on why they have received the notice.
Should You Evict?
Despite being legal, evictions are complicated and can get messy. Regardless of the circumstances, it is always a good idea to give your tenants notice before listing your property. By taking this step, they will be able to come up with alternative living arrangements and avoid future conflicts.
Lease Agreements and Selling Your House
If you’re able to sell your house with tenants, you’ll need to make sure that all of the lease agreement terms are met. This includes ensuring that the property is in good condition and that the tenant has been given proper notice of the sale.
Your Options When Selling a House with Tenants
You have a few different options if you’re selling your house with tenants. You can list your house on your own, work with a real estate agent, or sell your house to a cash home buyer company.
Listing the Home Yourself
When you’re selling your house with tenants, it’s essential to know your rights and obligations. Be sure to check your lease agreement to see if there are any restrictions on selling the property. You should also give your tenants plenty of notice before showings or open houses. Finally, be prepared to negotiate with potential buyers to get the best possible price for your house.
Working with A Real Estate Agent
If you’re working with a real estate agent, they will handle all the details for you. However, you will likely have to pay a commission when your house sells. Additionally, the process can take months until a deal is closed.
Selling to a Cash Home Buyer
Selling your house to a cash home-buying company is another option. This is an excellent option if you need to sell your house fast and don’t want to deal with the hassle of showing your house or negotiating with buyers. When you sell your house to a cash home-buying company, they will make you an offer on your house as-is. This means that you won’t have to make any repairs or clean before selling. In addition, you won’t have to worry about finding a buyer or paying a commission.
What to Do Before You List Your House for Sale with Tenants
Before you list your house for sale with tenants in Alabama, there are a few things you need to do. First, you need to give your tenants written notice that you intend to sell the property, and this notice should be given at least 30 days before you list the property for sale.
Second, you need to make sure that all of your utilities are up to date and paid in full. Finally, you should take some time to repair any damage to the property and make any necessary cosmetic repairs. These steps will help ensure that your house is in tip-top shape when potential buyers come to take a look.
How to Show Your House with Tenants
As far as showing your house goes, you’ll need to work around your tenants’ schedules. This means that you’ll likely need to show the house during evening hours or on weekends. You should also make sure that the house is clean and tidy before each show. If you have any pets, you’ll need to make arrangements for them to be out of the house during showings.
Closing Tips When Selling Your House with Tenants
When you’re ready to close on the sale of your house, there are a few things to keep in mind to comply with Alabama’s landlord and tenant laws. First, you’ll need to provide your tenants with a notice of sale. This notice should give them at least 30 days’ notice that you will be selling the property. Then, you’ll need to make sure that all of the utilities are transferred into the new owner’s name.
Sell Your House Without the Hassle Today!
Selling a house with tenants can be complicated and drawn out. To avoid any potential inconveniences, selling your home to a home buyer company may be your best option. At Favor Home Solutions, we offer fair cash offers and work with you through every step of the process so that you can sell your home quickly and easily. Forget about paying commissions or worrying about repairs- we buy your house as-is!