Inside T&H: Selling Your Indianapolis Rental Property
As an Indianapolis rental property investor, there will inevitably come a time when you decide to sell one, or all of your properties.
We realize that this is a natural part of the rental investment cycle, and so we have put processes and resources in place to provide the best sales experience possible for our Clients.
As a fully licensed brokerage, we can facilitate the entire home selling process for you.
We know you have a lot of options when it comes to choosing an Agent, but we hope that you’ll see the benefit of continuing our partnership from management to selling.
T&H Realty Rental Property Selling Process
There is series of events that will take place once you inform us you would like to sell a property.
1. Comparative Market Analysis
Our sales team will conduct a comparative market analysis to see how the market is currently performing and get a ballpark for what your property could sell for.
We will couple this with an estimated net proceeds sheet so you can have a firm understanding of the costs associated with selling your property.
At this time, we will take into account if your property is vacant or occupied and advise you on our recommended strategy. There are pros and cons to selling a home vacant vs. occupied.
2. Property Assessment
If after looking over the numbers you determine you would like to move forward with selling, our Agent will visit the property to ascertain the current condition and determine any work that may need to be completed prior to listing.
Once the evaluation is complete, we will nail down a list price and send a listing contract for your signature.
*Note: We charge a commission equal to 6% of the final purchase price which will be split with any agent who finds a successful buyer for your property.
Once the listing agreement is signed by all parties and any agreed upon work is completed, we will begin the marketing process for your property.
This begins with a new set of professional photos being taken to disburse to various outlets online.
The property will be listed on the MLS as well as the following syndicates:
- Street Easy
We also post to relevant Facebook groups.
Why Use T&H Realty Services to Sell Your Indianapolis Rental Property?
We’ve talked a little about our technical process, which honestly, isn’t terribly different than any other brokerage.
But there are several advantages and benefits to using us to sell your property which we will discuss next.
- Proprietary Knowledge and Insight into Your Property
We know your property well because we’ve managed it. Whether we have been your property managers for a short term or a long term, we have been through the property and we know its strengths and weaknesses. This makes it a lot easier to transition from a rental to a sale.
There’s no learning curve, and we can get right to work.
We also have all of your tenant’s contact information and a working relationship with them, which allows us to simplify the showing process and get your property on the market even before a tenant vacates. We can also try to facilitate a sale to your Tenants, which is a a win-win for everyone.
Any presale work or inspections can also be efficiently managed. Between your Property Manager who is extremely familiar with the home, all of the documented maintenance history and notes, as well as a dedicated REALTOR, you’re getting a level of service not found just anywhere.
Another perk is you can use your existing T&H Realty account to move funds when you have to pay for repairs or other items. That makes managing this process a lot easier.
- Protection During Vacancy Technically, when your tenant moves out and you decide to sell your property, your contract with us ends, absolving both sides of any duties or obligations.
But, as we know all to well, vacant properties are vulnerable. The last thing you want is for something catastrophic to happen to your home while it’s on the market, diminishing your chances of getting it sold.
So, to help prevent and minimize emergencies in your vacant property while we’re trying to sell it, you have the option to sign an addendum giving us continued management responsibilities.
To further put this into perspective, I’ll share a real life example.
Recently, an inspector and the buyer’s agent were at a vacant home we were selling for a client and they discovered a leak that was pouring water into the basement.
The home was at risk of major damage, including mold development. Had we not had the authority to call in an emergency maintenance team after hours, who knows how much damage would have been done.
But we were able to get in within hours of the reported damage, mitigate the issue, leaving very minor, repairable damage that would not hinder the sale.
This is an invaluable service that you won’t get selling your property with just any agent.
- Dual Approach
When you work with us, you get a dual approach to the sale and the rental of your property. If for whatever reason your home does not sell or you’re not 100% sure whether you want to sell or lease it again, we can list it for rent at the same time.
This minimizes your vacancy and gives you options and flexibility.
- Exclusive Investor Network
We currently have a list of over 150 investors looking to acquire properties here in Indianapolis.
What does that mean for you?
It means that before we even list the property on the open market, you could have 1 or more offers from other Investors actively trying to grow their portfolio.
As you can imagine, homes that we have managed and have proven revenue are very attractive to prospective buyers.
Occupied homes are especially hot commodities among our investor network.
Again, we know the sale of your property is a big deal, and you want it handled the right way.
If you have any questions or would like more information on the possible sale of your property, please click the link below!