Selling property to tenant - Landlord Forum thread 360785

Selling property to tenant by Sunny on August 20, 2020 @18:40

My tenant wants to purchase my property, and I do want to sell it to him. We do want to minimize transaction cost if possible by not using a real estate agent. Does anyone have experience and can point us in the right directions so that we can handle it on our own? If we have to use an agent, what commission percentage should it be customarily 1% or a fix amount since basically I've found a buyer and agreed on a price? Appreciate any inputs or comments. By the way the property is in California.

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Re: Selling property to tenant by Jason on August 21, 2020 @03:13	[ Reply ]

Tenant is going to need to be pre-approved unless he/she/they are paying cash.

Re: Selling property to tenant by Brendan on August 23, 2020 @14:57	[ Reply ]

FYI some areas of Calif have prices going high now with low inventory. There is some July 2020 data out but you may not have access without a Realtor. A company called 10KResearch puts it out as HOMEDEX You could sell the house through a Title Company in California without agents, brokers, or commissions, but you don't have the legal protection & Errors/Omissions Insurance of a broker. Percents are negotiable. Don't inadvertently sell your home low. What city?

Re: Selling property to tenant