Do you want to know how to Sell a Multifamily Home in Kansas City?
At Lutz Sales + Investments, we specialize in selling multifamily properties in Kansas, and in this article, we will walk you through some industry insider secrets that have allowed us to obtain extensive profits and success over the years. The process can be extensively grueling and challenges, given all the legalities, rules and regulations, but the below mentioned tips and strategies will help prepare you for the journey ahead.
Let’s take a look at some insider tips on selling a multifamily property in Kansas
Arrangements for the Sale
It is important to prepare all relevant documents that will allow the prospective buyers to examine the yearly income and expenditures of the building, alongside lease agreements and utility bills. Sellers will be required to prepare a due diligence report, and having these ready on the negotiation table will certainly move things forward at a quicker pace.
Dealing with Tenants
Addressing the challenges posed by uncooperative tenants is by far the most challenging aspect of selling a multifamily property in Kansas. If you can replace and evict a problematic tenant within your legal boundaries, go ahead, because uncooperative tenants who create trouble and do not pay rent will only discourage your prospective buyers from investing. Meanwhile, it is important to satisfy cooperative tenants so the buyer is motivated by the prospects of a reliable income stream.
Repairs & Maintenance
Multifamily properties are much different than single-family homes, and there is little room for buying multifamily properties with scores of damages, structural defects and repairs. If a motivated buyers will see visible needs for repairs, he/she will most likely imagine scores of hidden problems in the building. So be sure to prepare the property by addressing all visible repairs and maintenance needs, and ensuring that the building is well maintained and cleaned.
Market your Listing
As the top multifamily real estate brokers in Kansas, we simply cannot stress enough upon the importance of marketing your listing. The real estate market in Kansas and Missouri is always ripe for buying multifamily properties, however, marketing the listing is crucially important in order to obtain offers from motivated buyers who can pay the price that you seek. This is where we step in and breeze you through the process of listing, marketing and finally, closing the deal. We employ modern technological tools and real estate networking mediums to ensure that your listing is marketed and promoted across all the modern listing platforms and industry circles.