Click Fraud Protection

5 Tips for Selling Your Multi-Family Property in Los Angeles

Unlike a private home, selling your multi-family property involves several people, depending on the number of units. Sellers must put a great deal of consideration into the transaction to ensure they aren’t crossing any legal lines regarding the laws, rules, and regulations of Los Angeles by which multi-family property owners must abide. Failure to do so can be extremely costly.

We will cover five tips for selling your multi-family property in Los Angeles 

Check the Lease

When you set about selling your multi-family property in Los Angeles, the first thing you need to do is open all of the leases and do a thorough review, ensuring that you’re considering all of your tenants’ rights. Additionally, buyers will request access to your tenant files, so you’ll want to be doubly sure everything is in order. Some buyers wish to occupy one of the units, so they may move on to another property if your leases are all solid.

Prepping

To compete on the market when you’re selling your multi-family property in Los Angeles, you must present the property in the best light possible. Take a snapshot of the property. Looking at the photo may help you focus on the curb appeal or lack thereof that a buyer would note as they scroll through listings. You’ll want to trim lawn and shrubbery, paint the building more appealing, and be sure any signage is attractive and the parking lot, amenities, or equipment is well maintained. Pay attention to door locks as well. Fumbling with a key won’t make a good impression.

Documents

You risk turning off a buyer if your documents aren’t ready for review and in good order when selling your multi-family property in Los Angeles. Your bookkeeping records must be up to date. Your yearly net operating expenses will be of much interest, outlining all costs associated with the property, as well as the income from the rentals. This report provides buyers the ability to compare your properties with others quickly and if it is worth delving further into the transaction. Provide any paperwork that reveals regular maintenance, repairs, and any warranties that may still be valid, which hold value to the buyer. You’ll also want to include documents showing the roof’s age and the major systems, such as heat or air, and the appliances in the units. 

Inspections

It is wise to have an inspection completed before selling your multi-family property in Los Angeles. Finding surprise problems ahead of selling is best. Knowing the issues that exist will allow you to decide how best to resolve them before entering into negotiations. Should the buyer remain at the negotiating table upon reviewing the inspection, now considering your property as a fixer-upper, they will likely make an insultingly low offer. It is more likely your buyer isn’t interested in rehabbing a multi-family property and will walk away if their inspection should reveal a problem that the seller didn’t bring to their attention previously. 

Direct Sale

Sell directly to 2nd Chance Investment Group LLC. – we buy whether or not you have tenants!  At 2nd Chance Investment Group LLC., we purchase properties as-is for cash, so closing is fast. There’s no need to worry about sprucing the place up, or completing repairs, or paying holding costs while the property lingers on the market. The professional buyers at 2nd Chance Investment Group LLC. will go over the numbers with you, making sure you agree that our offer is fair. We will also present to you what you would realize if you were to list your property on the MLS so that you can compare all options. Working with 2nd Chance Investment Group LLC. makes selling your multi-family property in Los Angeles easy! Call 2nd Chance Investment Group LLC. at (866) 593 7012 or send us a message today.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

What Do You Have To Lose? Get Started Now...

We buy houses in ANY CONDITION in California There are no commissions or fees and no obligation whatsoever. Start below by giving us a bit of information about your property or call (866) 593 7012...
  • This field is for validation purposes and should be left unchanged.