Selling multi-family by owner - Landlord Forum thread 359650

Selling multi-family by owner by Edward on August 30, 2019 @15:07

Hello all,

I'm in the early stages of listing my multi-family. I want to try to sell "by owner".

My question is, how to you vet a potential buyer? Getting many people who want to see the property, but it is fully occupied and I'd rather not have people who can't afford it, or who just want to compare to other properties, walking through my tenants' units on a whim.

Thanks for any advice.

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Re: Selling multi-family by owner by Garry on August 30, 2019 @15:31	[ Reply ]

How many units are there in your multi-family? Are they 1,2, and 3 bed units? Are they older or newer units? Where are they located, and what's the asking price ?

Re: Selling multi-family by owner

Re: Selling multi-family by owner by Phillip on September 4, 2019 @16:23	[ Reply ]

If I were to sell by owner (I have done it once, but it was a single family home), I would allow for buyer agents and be willing to pay the 3% to that agent for the buyer. That way you can vet the realtor and request a pre-approval letter and all agents have to follow a specific set of rules, so whether or not you pay the 3% by having a selling agent, the buyer's agent will be required to comply with the rules, so you should be covered.

Re: Selling multi-family by owner by Richard on October 11, 2019 @01:54	[ Reply ]

Here are a few tips to sale multifamily by owner- 1. Prepare multifamily for sale by conducting a multifamily inspection, painting the walls and repairing the damages. 2. Clean up the property. 3. Keep at least one unit vacant to conduct showing at any time. 4. Get an appraisal for multifamily. 5. List your property on different websites. 6. Sign a listing contract with a realtor. 7. Advertise your property. For more help, visit SGP Multifamily: https://www.sgpmultifamily.com/

Re: Selling multi-family by owner