Tips for Selling A Multi-Family Property in Athens

Obviously, the process of selling a multi-family property is quite a bit more complex than that for selling a single-family home – and usually for the obvious reason that a lot more people are involved. In addition, sellers of multi-family property have to follow certain rules and regulations in order to be legally compliant. Above all, you don’t want to open yourself up to the possibility of being sued. So to help you out, here are some tips for selling a multi-family property in Athens.

Prepare the Property for Sale

Properly preparing a Athens multi-family property can actually make or break the sale. It’s that important because investors interested in buying will want to know that the property has been maintained. And if it looks well kept and well maintained, those investor buyers will be much more likely to make an offer (and one nearer your asking price).

The areas you should address in preparing your multi-family property for sale include:

  • Common areas – These should be cleaned up and repainted when necessary. These areas are often highly visible, so don’t skimp here.
  • Curb appeal – Be sure to create a great first impression. Trim bushes and shrubs, and weed and mulch beds. Also, replace any siding and trim that needs it.
  • Doors/locks– Doors seem to take a lot of abuse in multi-family properties. It’s well worth the expense, then, to repair or even replace unsightly entry doors.
  • Parking areas – The appearance here does matter, so check to see if you need to repaint lines and/or numbers.

Review Leases and Related Documents

This legal aspect of selling a multi-family property in Athens is extremely important, so it’s always a good idea to enlist the aid of a real estate attorney with experience in this area. In any case, though, you need to review the leases before selling. You absolutely must keep tenant rights in mind because, depending on terms, you may or may not be able to sell while units are occupied.

You also need to be familiar with the terms of leases in order to answer the questions buyers will surely ask. The questions include:

  • What are the exact terms of the leases?
  • What are the rent amounts for different units?
  • What does each unit’s rent include?
  • Are you holding security deposits, and what are the terms for deposits?
  • Are any of the rents government subsidized?

Use an Agent with Experience in Selling Multi-Family Property

To help you navigate the complex process of selling a multi-family property in Athens, you should consider hiring an agent who has experience in this area. Using a top agent is important for selling any kind of property, but especially so for selling a multi-family property.

You can check agents’ profiles online, as well as their selling record. But nothing beats a personal interview, which should include at least the following questions:

  • Can you provide contact information for the former owner of a multi-family property whom you represented for a sale?
  • What is your method for handling a showing when a property is tenant occupied?
  • How do you handle uncooperative tenants?
  • How much notice do you give?

Asking the right questions and getting the right answers can greatly increase your chances of getting an agent who can represent you well.

So if you are trying to sell a multi-family property in Athens, just follow these tips to get a good price and avoid the risk of being sued. And if you are a newbie to selling a multi-family property, it might be a good idea to enlist the aid of qualified real estate professionals. And that’s where we can help.

Are you ready to sell a multi-family property in Athens? We can help! Send us a message or give us a call today! 706-426-1082

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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