Thanks for all the advice. I’m going to push to put it on the market by April, but one of the tenants is on lease until June 30. I figured if I offered a month or two of free rent (or pay out the equivalent on move-out) I could get her to move out early. The only articles I’ve found involve buying out a rent controlled unit–I freaked out when most articles seemed to cite 5 figure buyouts, some 7 figures, until I realized that situation doesn’t apply here…I think. Anyone have experience with breaking a lease in a non-rent controlled situation? What’s a reasonable amount to offer?
I’ve never been a firm believer in the seasonality of selling. Some neighborhoods that are geared towards good schools might feel the spring push, but North Park shouldn’t that much. I wouldn’t lose/or give away money trying to time the sale of the home. I’ve done a few flips in the past couple years and I don’t think the prime selling season made a difference for us. We just put it on the market when we were ready. There are other market conditions that are much more of an influence on price. Don’t give away gauranteed money to chase a possible higher sales price. Make the property look nice and avaialble to all buyers (VA, FHA, Conventional). In your area you might want to paint, do flooring, new baths and kitchen, landscape (don’t spend too much on landscape).
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