Are you, as the owner of the property, even allowed to do that?
What do you need to know?
Well, at Green Beacon Properties, we’ve helped lots of different people in Chicago sell their homes — even people who had tenants in their property.
And the real key here is the lease you have with the tenant must be honored. So depending on the kind of lease you have, there can be a few different outcomes…
Give One Month’s Notice — If you just have a month-to-month lease with your tenant, then you usually just have to provide one month’s notice before they need to be out of the home. Then you can sell the property as normal. But this will only benefit you if the property is already in good shape to sell on the MLS (clean, updated, and nothing broken).
Sell As An Investment Property — If you have a lease with the tenant that has several months or years left on it, the good news is that you can usually still sell the property, but the lease must be honored. This means that you’d probably want to sell it as an investment property since the tenants will get to remain in the home. Again, though, this is contingent on the home being in good shape when you sell it.
Sell To a Professional Homebuyer — Regardless of what kind of lease you have, you can almost always sell to a professional home buyer like ourselves. We can pay cash, buy your property as-is AND deal with your tenants. And if you think your house is in bad shape… I promise you we’ve seen worse 😉 Give us a call at Phone number 312) 820-8054 if you want to get your fair cash offer.