Ask Terry Questions Selling a Townhouse

Selling a Townhouse

By Terry Savage on January 31, 2019 | Housing / Real Estate

i need to sell my townhouse which is currently being leased. I tried to sell it last year but had to take it off the market. With the mortgage and pre cost after six moths needed to lease it.

My question – Need to sell but not to give it away. Should I get real estate agent and show place only for qualified prospects.?If I get an acceptable offer try and buy the lease out or extended closing. last year they told me listing it in May was why we didn’t get an offer.
Financially I need to sell the property.  Lease doesn’t expirer until August 2019.
Can’t go another year.  Must sell.People are telling me to wait until August and put it on the market.
I can’t take that risk.
Can you HELP!!!!!!

Terry Says

First of all, you’re listening to all the wrong people!   Looking backward, the ONLY reason a property doesn’t sell is that you priced it too high — or didn’t market it well.   And that means you’re planning with an important asset as an amateur.

First, get a qualified real estate agent.  Show him or her the rental contract you signed.  A LOT depends on the wording of that contract.  Did you have a real estate attorney draw up the contract?    If it specifies, in writing, that if the apartment is sold the tenant has 30 days, or some other period, to get out then you are in luck.  If not, you may have to market the townhouse with a closing date set in August of this year.

Stop fooling around and get professional help.  You need a realtor/broker and an attorney who specializes in real estate law.  Start with the broker who can read the contract and recommend an attorney.



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