While the possibility of getting a listing is music to the ears of most realtors, there are some important factors to be considered, if you are trying to sell a property that is occupied by a tenant.
First, you may want to review a copy of the lease, to determine what actions are expected of the tenant. Also, once a buyers offer is accepted and the closing is set prior to the end of tenant's lease, it is important that the buyer understands that the tenant has a right to
remain on the property, unless other terms are agreed upon. These terms also need to be clearly documented on the MLS.
Other factors to consider is whether or not a tenant is willing to cooperate in showing the property. In some instances, the landlord will be proactive and assist, if the tenant doesn't cooperate; however, some may leave it for the listing agent to handle. This could be a challenging situation when the property is appealing and there are ongoing showing requests.
Ultimately, it is important that both the listing agent and property owner are clear on the expectations of all parties involved, to avoid any confusion for tenant, buyer and have a
successful journey to closing. The information provided is part of a three part series published on Florida Realtors.org.
Source: Florida Realtors.org
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